6 ways that companies could reward employees – other than increasing their pay

If you have worked your business from the ground up, or you are the boss of a loyal bunch of employees, we all know how important our staff are to our companies. It can be hard to show our employees just how valued they are, especially when a pay rise isn’t a feasible option.

Increasing wages can be done in bigger businesses, but in smaller businesses, where lower-level staff are arguably more fundamental to day-to-day running of the company, this isn’t a sustainable rewards option. Instead, think about these 6 other ways that you could reward your employees.

Reward scheme

A rewards scheme can give a huge boost to career satisfaction.  These benefits programs offer many perks and savings, from gift cards to instore and online discounts. Through this year many of us have been drawn to online shopping for obvious reasons. With the pandemic still ongoing, retail sales over the Christmas season are predicted to be pretty evenly balanced compared to previous years. Why not give your employees the chance to save a bit of money on their last-minute Christmas shopping? They can even receive cash back, saving thousands of pounds a year.

Parties and celebrations

What says thank you better than a birthday or holiday party? You could even throw a celebration just because they have done great! Social events can be amazing for workplace morale and productivity, as they allow your staff to socialise outside of the office environment. As they get to know each other this can improve overall communication in the office. Make sure to invite everyone and over-order on the guacamole. And most importantly of all, just let loose and have fun.

Flexibility

This year we have all learnt, sometimes on very short notice, how to work from home. Now that we are starting to return back to the office, some people may have enjoyed the extra time with their family that they got by working from home. Therefore, why not allow your staff to choose one day a week, fortnight, month, whatever works for you, to work from home. If people don’t want to do this, maybe look at flexible working hours so that your employees can have a better work-life balance.

Dress down Fridays

A really simple idea is to let your employees wear whatever they want one day a week. You could make it themed depending on the holidays, or maybe fancy dress for charity. Or, you could just let them wear those comfy clothes we have all got used to wearing over lockdown into the office, implementing more of a smart-casual look overall.

Time off for birthdays

Find out your employees’ birthdays, and then make their birthday a compulsory holiday. You can make this a paid holiday too for an extra perk.

Show your appreciation

Showing your appreciation for your employees doesn’t have to cost anything, you could just say thank you. Show you are grateful for their hard work and congratulate them on their successes. After all, rewarding your employees means nothing if you don’t show them how thankful you are to have them.

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