Deborah Merkin
Recent Posts
Is Money Important for Motivation?
Using money for employee motivation can be effective, but it can also create a culture where employees are constantly and exclusively working for the money. Motivating with money can even create situations similar to coercion, by taking away the self-motivation that drives employees to go the extra mile. However, motivating with non-monetary compensation can motivate and dedicate employees for years to come. Here are 3 ways to use non-monetary compensation and put year-end compensation in perspective.
The Importance of Saying Thank You
Saying "thank you" is a small gesture that often goes a long way. In the workplace a simple "thank you" from a boss to an employee, or from upper management to a workforce can help keep employees motivated, loyal to the business, and productive. According to a survey this year of 2,007 people
for from the John Templeton Foundation, only 10% of employees say thank you to a colleague every day, and a mere 7% express gratitude daily to a boss. The same study indicated that spouses, children, even mail carriers were more likely to receive a thank you or other gratification from adults in the workforce. The majority of HR managers believe that showing gratitude increases retention rates, and 49% of those HR Managers believe that the simple act of saying "thank you" in the workplace can increase profits. Expressing gratitude to bosses, subordinates, and colleagues builds trust and culture in a company. For employers and management it is important to show gratitude, as well as express it. Providing small rewards for a job well done allows employees to feel the impact of a "thank you." Whether it is a simple
CVS/Pharmacy gift card to help with everyday expenses, a gift card to
The Children's Place to help get the kids special holiday outfits, or a
1-800-Flowers gift card to help employees pass the gratitude on; small rewards given as "thank you's" to employees can go a long way.
For more information on the importance of saying "thank you" and expressing gratitude in the workplace check out this article from the Wall Street Journal.
Employee Gifting Gone Right, Ideas Under $50
Contrary to popular belief it’s not always about the amount you spend on your holiday workplace gifts that shows how much you appreciate your employees hard work throughout the year. Breaking the bank need not be a concern when choosing the best way to thank employees this holiday season. Entrepreneur’s Margie Zable Fisher highlights some creative, thoughtful, fun and cost efficient gift ideas in several categories:
Food-
Two words sum up this category:
Sweet Tooth. Holidays are the time of year to indulge in the sweeter things in life. Try giving a box of fine chocolates or a basket of cupcakes from a local bakery, they’re sure to please.
Stress relief- Everyone is a little stressed out this time of year. Give them something to soothe their nerves. Herbal teas or aromatherapy products make great gift baskets.
Technology- It’s impossible to go anywhere and not see someone with an iPhone or iPad. Help employees protect their gadgets with cool cases or accessories.
Gift Cards- Some people are just impossible to shop for and that’s the beauty of gift cards. Give the gift of a night out of the kitchen with gift cards to
The Cheesecake Factory or help out with everyday purchases with gift cards to
CVS/pharmacy.
Check out more great gift ideas from Entrepreneur’s ‘Holiday Gift Ideas Under $50: Thirty thoughtful employee gifts for small businesses on a budget.’
Making Employee Gifts Meaningful
As the holiday season approaches it is important to show appreciation for your employees, and ensure that end of year gifts that go beyond the standard holiday bonuses provide meaning and extra gratitude for employees. Here are 3 quick quick tips to make sure your employee gifts prove meaningful this year and motivate your employees:
Gas Rewards Fuel Loyalty, Gift Card Sales
We have all seen fuel rewards programs, where businesses reward customers by awarding points for dollars spent at the store. These programs continue to grow with national gas prices, and can be an effective way to drive loyalty, and gift card sales. Offering flexible items such as gift cards, that consumers can then repurpose as gifts holds a huge value for consumers. Their gift dollars go twice as far, since they are earning gas rewards, a huge and necessary expense for most Americans. The value of repurposing every dollar for twice the impact will keep consumers coming back to both the gas retailer and grocer consistently as long as they can continue to gain rewards.
