We’re quickly approaching the 4th quarter and end of year bonuses. Sometimes that’s a joyous time of celebration and others…well, let’s just say it’s no fun falling short of the mark. When you can write big bonus checks, it feels good. When you can’t, you can still award high-performing employees.
3 Ways to Award High-Performing Employees on a Budget
Public Recognition
If someone does something well that could serve as an example to others, recognize them publicly and be specific as to why you are doing it. Did they save a client from canceling? Do they emulate your ideal can-do attitude at work? Tell their story and explain what makes their work extraordinary.
Reward in a Timely Fashion
Always reward the employee as close to the desired action as possible. Giving an award in December for an action in January, while still appreciated, does nothing to tie the action to the award. Don’t worry about 4th quarter recognition. Catch them in the act of doing something amazing and show your appreciation then.
Give Them Something They Can Feel Proud About
A pat on the back and a check are nice but as soon as that adulation is over and the check is spent, so are the good vibes associated with it. On the other hand, if you provide the employee with something tangible they will place it somewhere for others to see and it will be a source of pride. People will ask about it or comment on it and the employee can relive the award reason over and over.
There are plenty of ideas for what you can use to reward employees, from a traditional plaque to a fun trophy. You can also create a whimsical tradition of something out of the ordinary like troll dolls with different hair color. Each hair color could signify a different award such as top sales, customer service expert, or any other designation that fits your company.
Remember that your sales department is not the only one bringing in revenue. Your support team retains your customers and your marketing team finds them. Consider other ways to award your high-performing employees throughout your company for improved morale that doesn’t break the bank.
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