Low cost employee reward and recognition may seem impossible, but keeping your team motivated and appreciated isn’t just about hefty bonuses or extravagant gifts. The key lies in meaningful appreciation that resonates with employees, making them feel valued and appreciated. To help you with this, we’ve put together nine cost-effective, yet impactful ways to reward your employees:
- Discounts: The gift that really does keep on giving time and time again. By offering employees access to an online discounts platform, they can benefit by saving money on big brands and every day essentials from high street retailers to holidays and even insurance!
- Organise Company-Wide Activities: Plan fun activities throughout the year to strengthen relationships and boost morale. It’s a great way to encourage camaraderie among employees and doesn’t need to cost an arm and a leg. Think of Cheese & Wine Fridays, themed lunches or even a quick game or two in the office.
- Public Appreciation: Making your gratitude known in a company-wide meeting or through an email blast is simple. Your employees will appreciate this public acknowledgment of their efforts and it will motivate the whole team.
- Thank You Platforms: An online portal with a peer-to-peer thank you platform adds a touch of warmth and sincerity that is hard to match. Much like the above public appreciation, a platform like this can show a live news feed of the latest thank yous, meaning celebrating achievements has never been easier.
- Time Off: Rewarding hard work with some well-deserved time off can be a great morale booster. It shows that you respect their personal time and appreciate the extra mile they go for the company. We all know a good work/life balance is key.
- Thoughtful Small Gifts: Gift cards, cinema tickets, days out or even flowers can be a sweet gesture of appreciation. It’s the thought behind the gift that counts, not its price tag! Our very own Lifestyle Gift Vouchers start from £10, making is simpler than ever to gift a reward.
- Employee Spotlight: Feature your star employees or employee of the month on the company blog, newsletter or online portal if you have one. It not only recognises their achievements but also motivates others.
- Long Service: Recognising an employees loyalty to the company doesn’t have to break the bank. Personally, we love small yet regular increments highlighting each year of service.
- Online Games: Revamp your rewards with a playful twist and get your team talking. A quick spin on a wheel? A festive advent calendar? Whacky races? Pack them out with low-cost rewards (see number 6!) to instantly recognise your employees whilst injecting some fun in to the work day.
Remember, Employee Reward and Recognition does not need to break the bank
But it’s also the secret to a thriving workplace, and making sure the balance between recognition and reward is thought through. Recognition tends to come first – it’s about acknowledging the hard work and achievements of your employees. Reward, on the other hand, follows recognition. It’s the tangible expression of appreciation for their contributions.
These low cost Employee Reward and Recognition ideas are great ways to increase employee engagement and enhance overall well-being within the company. Not only will these ideas increase employee engagement, but they’ll also contribute to fostering a healthier, happier company culture.
Here at Active, we have over 30 years experience delivering successful rewards and incentives, and are acknowledged experts in the industry. Check out our other blog Employee Rewards – What They Really Want for more tips, tricks and inspiration.
Contact our friendly sales team today to find out how we can work for you, your company and your employees.