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How to Reward Employees on a Tight Budget

thumbs upRewarding employees is important because a happy employee is a more productive one. Thanking your employees for their hard work motivates them to work even harder. It's important to say thanks, but sometimes it's tough on a tight budget. Luckily, there are a few ways you can still offer rewards without breaking the bank.
Give them a day off. If you don't have cash to spare for a sizable bonus, you can always thank your employees by giving them an extra day off. If you'd rather not pay for a full day that he or she isn't working, you can always give the option of a late start or an early release instead. You can also think about expanding breaks or lengthening lunch hours. The point is that rewarding with time is both affordable on a small budget and still a great way to say thanks.
Hand out free food. Everyone loves a free meal or a tasty snack. Order lunch to say thanks for a successful advancement in the company. Bring in breakfast one day each month. Surprise your team with ice cream or candy one day. It doesn't always matter what you do -- it's more about making an effort to make sure your employees feel valued.
Learn the best way to motivate your employees. Everyone's different and has different preferences. What excites one employee, may not be the best way to reward another. Take polls and ask your company what they prefer. Not only will you chose rewards that better suit them, but they'll feel valued just for you asking.
Read the full article on LinkedIn.

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Topics: Gift Card Incentives & Rewards, Employee Incentives & Rewards

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