7 affordable employee rewards that mean something
From juggling payroll and customer service inquiries to delivering your core product or service, a small business owner wears many hats. That’s why, as an entrepreneur, you know the value of surrounding yourself with a great team to help tackle your never-ending workload.
According to the Small Business and Entrepreneurship Council, you’re not alone. Almost one quarter of small business owners in America like you are employers.* And even if you don’t have a team right now, you’re probably thinking about hiring in the future if you have plans up your sleeve to grow your business. Take if from our fashion-forward borrower SlideBelts: thanks to their Funding Circle loan, they grew from a two-person operation in a garage to a team of 14 in an impressive new warehouse!
Creative benefits and appreciative gestures are key when it comes to attracting and retaining awesome employees. In fact, a recent study found that employees (especially Millennials!) reported that “recognition” was three times as likely to motivate them to produce great work than any other driver. That’s why you should take a little time to reflect and ask yourself: have I thanks my team today?
In honor of Employee Appreciation Day, here are some ways you can show a little appreciation to your employees without breaking the bank:
Every employee has a life outside of work – so acknowledge that. If it’s feasible for your business, offer paid time off, flexible working hours or a telecommuting option.
2. A little fun goes a long way.
You spend a huge amount of time at work, so it should be enjoyable. Consider inaugurating a regular company happy hour or bonding events. Everyone likes to let their hair down, especially when the boss picks up the tab.
Not only is it a great way to unwind and take a quick mental break, it’s also a fantastic way to socialize with the team and build momentum. For example, a little friendly competition at the ping pong table might turn into healthy competition on sales calls.
4. Free food and snacks.
Everyone loves a never-ending cereal bar and mid-afternoon pick-me-up.
5. Onsite pampering.
Bring in a massage therapist to help your team relax after they hit a major sales goal, or hire an errand-runner through Taskrabbit to help take the edge off their long work week.
6. Personal salutes.
Like with any relationship, sometimes the simplest gestures make the biggest impact. Take a little time to write a note to express why you personally appreciate someone and their efforts — or think a little more outside the box! For example, we have a gong in our office for people to hit majestically when they have a major breakthrough, like a product release, a major investor deal, or when an awesome new hire accepts her offer.
7. Reward by Praise.
Sometime it one only need to say “thank you,” ” I appreciate you,” and “I am here for you.”
Hoping to add new members to your small business family this year? Apply for a loan with Apple Capital Group team to help you grow the team.