bonuses_blog.pngAll employees appreciate getting rewarded for a job well done, especially if the reward includes some type of financial compensation. However, during difficult financial times, it may not be feasible for companies to offer bonuses or pay increases. Fortunately, there are numerous ways to show your employees how much you appreciate their efforts that do not involve cash.

Studies have shown that employees actually value praise and recognition more than money in the long run. Also, a survey conducted by the Gallup Organization found that individuals who receive regular recognition and praise: 
  • Increase their individual productivity
  • Increase engagement among their colleagues
  • Are more likely to stay with their organization
  • Receive higher loyalty and satisfaction scores from customers
  • Have better safety records and fewer on-the-job accidents 

Engaging Employees Despite a Limited Budget

So what are some of the best ways to reward employees for companies that have limited budgets?

Praise and Recognition

The power of praise cannot be overstated. A study at the career site, Glassdoor, revealed that more than 80 percent of employees said they're motivated to work harder when their boss shows appreciation for their work, compared to less than 40 percent who are inspired to work harder when their boss is demanding or because they fear to lose their job. 

Offering a Flexible Work Schedule

Flexible scheduling allows employees to adjust the time when their work is completed. It can mean compressing 40 hours into four days or starting and ending workdays at different times. We've implemented this practice for various departments by allowing employees to work nine-hour days on Monday through Thursday, and four hours on Friday morning on an alternating schedule. Employees love having Friday afternoons off, and they were still working 40 hours per week.  This was implemented at no additional cost to the company.

Training and Room for Advancement

Employees are unlikely to be happy in their job if they continue to work with no training or room for advancement. A recent study proved this by showing that employees who felt they had no opportunity for advancement were not as happy as those with a workpath plan and, as a result, were more likely to begin searching for a new job sooner. 

Casual Dress on Fridays

Although this does not seem like a huge benefit, employees appreciate when they have the opportunity to feel more relaxed on Fridays. Also, there are several weeks a year when we allow our employees to dress casually all week if they choose to make a donation to a local charitable cause. This fosters community awareness and increases employee engagement, as employees feel involved in making a difference.

C.A. Short Company provides recognition programs designed for rewarding and recognizing employees based upon the client’s company goals and objectives. Each program is designed to fit the client’s budget, thus alleviating the dilemma that businesses often face when wanting to reward employees for their performance but not being able to do so due to budget constraints.

Companies can increase employee loyalty by incentivizing employees with points, badges and other recognition tools for performing positive behaviors that align with the overall company goals.

C.A. Short Company offers an innovative employee engagement platform that promotes individualized and group recognition to employees. Our People Are Everything recognition platform assists companies in creating an engaged culture by encouraging communication and recognition; thereby, increasing productivity.

Learn more ways to make this holiday season count by watching our on-demand webcast here.

Leveraging End-of-Year Giving Beyond the Holiday Season


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