6 INNOVATIVE WAYS TO REWARD EMPLOYEES

A company or business is not run by one person alone. There are key players that all contribute to its success. One of such key players is the employees. These are the people who work under the employer to achieve the company’s goals and ensure customer/clientele satisfaction. In a way we can say that employees make the company. The success of a business is largely dependent on how efficient and effective the employees are. Most of the time, you discover that they are the ones who are in direct contact with the customers or who personally handle projects and the success of the project is generally accredited to the employer as the face of the company. 

Rewarding employees for jobs well done, has been discovered to be a great way of keeping them motivated and encouraging them to even do more. Once a person feels appreciated even for one good thing done, the person will find it easier to do better. An employee who is unappreciated most of the time does work grudgingly and may find it difficult to give a hundred percent inputconsciouslynconsciouswill

Some of the ways that employers have come up with over the years to reward employees who have contributed positively to the company or business include promotion and increase in their pay, simple appreciation cards, parties thrown in honour of them, official recognition in form of awards, sponsored lunches or dinners, and so on. 

In addition to the above, here are 6 innovative ways to reward employees and ensure the continued success of your business:

1. Double pay: I will like to describe this as a step further from a surprise bonus pay. With the bonus pay, the employee gets paid the usual salary at the end of the month plus a little extra. With the double pay, the employee gets double of the usual salary. This is definitely a great motivator and will propel the employee to do even better.

2. Loan without interest: There are employees who have personal projects to undertake to improve their quality of life but they lack sufficient funding to carry them out, as many of these projects are capital intensive. The employees are also very reluctant to take out loans because these loans are usually attached with high interest rates. 

A good way to reward an effective employee who is in need of a loan is to surprise him or her with a loan offer with the interest waived. Remember that due to this employee’s hard work, there has been an addition to the company’s income and the continued hard work of this employee means future additions. Therefore, granting the loan without interest should not be viewed as a loss to the company. Firstly, the loan will be repaid and secondly, the employee is still working and constantly bringing in money for the company. On the one hand, the company benefits from a highly motivated employee who puts in his best and on the other hand, the employee gets to accomplish his/her personal project—it’s a win-win situation for everyone.

3. Invest in their continued education: Master’s, diploma, certificate, skill acquisition, just name it. Developing your employees will also in turn profit your business. With the level of skills and knowledge they presently have, they've proven to be valuable, how much more with improved skills and greater knowledge. You can reward a valuable employee by sponsoring him/her in further education. This sponsorship will ensure that he/she continues to be an asset. Investing in your efficient employees this way is another great motivator.

4. Surprise all-expense paid trip to a moderately exotic place: Another great way to reward an employee for a job well done is by arranging an all-expense paid trip for the employee and the family if there is, for a short vacation. The trip need not be to an expensive place, just somewhere different and nice. A place where the employee can take a break and relax. Recall the popular saying all work and no play makes Jack a dull boy? I will modify it to all work and no rest makes employees dull.

5. Time off from work: If you consider the all-expense paid trip too expensive for you as an employer, you may consider rewarding an employee by giving him/her a day off from work. It is important to rest the body regularly. This will aid the perfect working of all the systems. Working your employees for unending hours, 5 or 6 days a week is neither beneficial to the employee nor the business. In your haste to get the best from your employees by working them to the ground, you may likely find yourself getting lesser output from them over an extended period of time. Therefore rewarding efficient employees by allowing them to rest on a working day, is a good way to ensure that the level of efficiency and effectiveness they have prior exhibited, is maintained and even improved.

6. A paid visit to a good hospital for general check-up: Health is wealth. A major contributory factor to the effectiveness of an employee is good health. The only concern of a sick person is to get healthy, the same applies to a sick employee. It is even more important now than ever for people to regularly go for check-ups as many serious illnesses find a way to lie fallow for even a couple of years before outwardly manifesting at which point, it may either be too late to be treated or highly expensive. Prevention they say is better than cure. Rewarding efficient employees by paying for general check-up in a good hospital is a great motivator. Illnesses can be caught on time, necessary life changes can be inculcated on time and general medical advice is gotten. These will contribute to the good health of your employees and the healthier they are, the more qualitative their work output will be. Invariably, the better your business becomes.