Genuine non-monetary rewards
I had a meeting with a client a few weeks ago. I am sure you will be able to identify with this client. He was telling me that the company he worked for as a Senior Manager had given the directive that they couldn’t afford to give any employees salary increases. So, he wanted to brain storm what on earth to do for employees, specifically ones who have worked hard all year. His biggest fear was that employees might start to look elsewhere because of this situation.
So, what are his options? Firstly, you can never underestimate the utmost importance of genuine communication as a manager. Sitting down with your team, I would recommend individually, and laying your cards on the table is so important. People will usually understand times being tough and will usually be thankful that you took the time to explain the situation. However, this usually won’t be enough to sustain An employee’s happiness for an entire year.
This is where a genuine conversation about their performance is helpful. As a manager you should have regular catch ups/one on ones with all employees. Be genuine. It’s easy to find fault with employees, but it seems to be much harder to find the good in someone and really tell them how thankful you are to have them as part of the team and provide specific feedback about things they have done well and how they have helped the business. Look for other ways to reward your team, like suggesting a coffee at a local café as part of your one on one. Finding ways to help develop employees without sending them on expensive courses, like shadowing someone else in the business for half a day, attending a client meeting when they usually wouldn’t or giving them some work they wouldn’t usually work on to develop their knowledge.
There are so many ways to reward employees that aren’t just a salary increase. A genuine thank you for a job well done should never be overlooked.