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3 Cost Effective Employee Rewards

Posted, by Deborah Merkin
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Looking to reward employees and show them you care? Showing organizational support with employee rewards for a job well done can be an easy, low-cost way to invest in your workforce. Here are 3 easy ways to incorporate employee rewards into your employee loyalty and recognition strategy.
Take your team out: Using simple gestures like a team lunch out, or a group happy hour after work, or even an activity like a team bowling night, is a great way to reward employees. Getting your team together outside of the office is a great way to bring people together, and form interpersonal relationships while rewarding your employees for the hard work they do. Investing in hard work, and rewarding employees is a great way to keep employees satisfied at work, and raise productivity and retention rates.
Time off: Reward employees with extra time off, or flexible work hours for hard work, or a job well done on a specific project; it’s another low-cost reward strategy that resonates with employees. Time is valuable to employees, especially personal time. Giving employees extra personal time, as a reward is a great strategy to perpetuate desired behavior, and show other employees that going above and beyond will be noticed and rewarded by management.

Group Recognition: Recognizing employees amongst their peers is a great way to reward employees because it communicates plainly to your workforce what behavior gets rewarded, and how to go beyond daily duties to garner employees rewards and how to get noticed by management. Recognition, paired with a small reward like a small denomination gift card to a popular retailer such as
CVS/Pharmacy or the
Cheesecake Factory is an effective use of low-cost employee rewards, paired with public recognition.
For more information on how to incorporate employee rewards into your employees recognition and retention strategy check out this article from Dynamic Business.

Topics: Employee Recognition, Gift Card Incentives & Rewards, Rewards & Loyalty, General Gift Card, Employee Incentives & Rewards

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