Can't afford pay rises? Our top low-cost rewards
Posted on 26th June 2018 at 14:03
When you can’t afford to give pay rises, then a bit of creativity is called for when thinking of ways to reward your employees without it costing the earth. So we’ve done the thinking for you and here are our top 5 ideas for rewarding your workers without offering a pay rise.
Employee Awards – introduce Employee of the Month or similar award. As well as public recognition and a certificate of achievement you could offer a small prize like a meal for two, theatre tickets, a bouquet of flowers or shopping vouchers.
Days Off – give people an extra day or two’s holiday to be taken on top of their annual holiday allowance. People value their free time, so more of it is always appreciated.
Development Opportunities – offering the opportunity to go to a training course or providing some mentoring sessions with someone they can learn from is a great way to increase their skills and prove some career development.
Nights Out – take the team out for a drink, go bowling, play mini-golf or go to a bingo/quiz night. Getting the team together outside the workplace also helps with team bonding.
Flexible Hours – consider offering flexible work patterns. Perhaps they would appreciate a shorter working week, later starts, earlier finishes or longer break times. It might also be possible to allow some employees to work from home occasionally.
A good tip is that it’s always useful to find out from your employees how they would like to be recognised so that you can make the reward personal to them.
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