As a small business owner, we’re sure that you want to do all that you can to reward your employees for their hard work without breaking the bank. Offering rewards and incentives to your employees can be a great way to show your appreciation for their continued hard work and dedication.
While financial incentives are one option, there are many low-cost rewards that can be just as effective in boosting morale. These are often more attractive to the owners of a small business where budgets for employee benefits are limited in scope.
Here are some of the favourite ideas, put together by aible HR Services, for budget-friendly rewards and benefits that you could offer to the employees of your small business:
Health and Wellness Perks.
Promoting health and wellness in the workplace can have numerous benefits for both employees and the company. Offering free or discounted gym memberships, healthy snacks, or on-site fitness classes can help employees stay healthy and energised during their working day.
Fun and Leisure Activities.
The workplace doesn’t have to be all work and no play. Offer employees the chance to participate in fun activities, such as team-building events, happy hours, half-marathons and office game days. This can help foster a positive work culture and promote camaraderie among team members.
Allow Employees to Bring their Pets to Work.
This can be a major perk for employees who consider their pets to be part of the family, especially those who struggle with taking care of their pets whilst at work. This can also help to reduce stress and improve overall well-being for others in the office, but be mindful that other may have allergies to certain animals.
Offer Free or Discounted Transportation To and From Work.
This can be a major benefit for employees who live in an area with high traffic or limited parking. It could be in the form of a car-share scheme, paid-for public transportation or with an income-sacrificing cycle to work scheme.
In a world increasingly focused on reducing emissions and with rising costs of driving, offering incentives for car-sharing or public transportation can have a great impact on the wellbeing of your staff and their commuting costs.
Introduce a Flexible Working Schedule.
This can help employees manage their time more effectively and improve their work-life balance. Allowing your employees to adopt a flexible working schedule can ease the stress of a strict 9-5 schedule.
Your employees will not have to worry about getting to the office at a strict time when taking children to school, attending doctor’s appointments or undertaking personal admin, and removes the stress of being stuck in traffic during the commute.
You might also consider adopting hybrid working practices, allowing your employees to work from home on occasion to reduce their commuting time and aid in improving their work-life balance.
To read about the potential changes coming to the way in which UK workers are able to request flexible working, Click Here.
Provide Free Lunch.
This could be in the form of a company lunch once a week, or even a monthly lunch allowance for employees to spend at local small businesses. Taking an hour with your hard working employees over a paid-for lunch will allow them to relax and enjoy a delicious treat, with the benefit of being celebrated by the whole team for their hard work.
Host a Charity Event.
This can be a great way to give back to the community and support a cause that is important to your employees. To recognise hard work, you could ask an employee to select a charity of their choice and host an event to raise funds.
This could involve team building activities, sponsored runs, or sponsoring the employee to complete a bucket-list challenge of theirs such as a skydive.
Offer a Mentorship Program.
This can be a valuable learning opportunity for employees at all levels of an organisation. It can help newer hires learn from more experienced employees, and can also foster a sense of community within the workplace.
As a small business, you could consider reaching out to senior members of other local organisations to build connections within the industry and develop mentoring relationships.
Additional Time Off.
One of the most valuable rewards you can offer to employees is additional time away from work. This can be in the form of additional vacation time with every year of service, birthday leave, or charity days where the employee can dedicate a day of work toward the charity of their choice.
Giving employees additional time off in recognition of dedication and hard work can boost motivation, help reduce stress and improve their overall well-being.
Professional Development Opportunities.
Investing in your employees’ professional development is not only good for their careers, but it can also benefit your business. Offering your employees the chance to attend conferences, workshops, or training sessions to help them learn new skills and advance in their careers can be extremely motivating.
Additionally, being open about career progression opportunities within your own business can help motivate your employees further with the knowledge that they could receive a promotion.
Recognition and Praise.
A simple, free, but often overlooked reward is the recognition and praise of a job well done. Consider taking the time to personally thank employees for their contributions, and highlight their achievements in team meetings or company-wide communications.
Offering rewards and incentives to employees doesn’t have to be expensive. There are many free rewards that can be just as effective at boosting morale and improving productivity.
By taking the time to recognise and appreciate your employees, you can create a supportive work environment within your small business that encourages hard work with budget-friendly employee rewards.
If you enjoyed this blog post about employee rewards for your small business, consider reading Employee Stress – Three Tips for Small Business Owners
