Twelve Non-Monetary Ways to Reward Staff

In 2019, Randstad's research into employer branding showed that employees' top motivators were job security and competitive salary. With the recent pandemic causing many countries to be in a tight economic situation, it can be challenging for HR staff & SME owners to offer extra pay when their budgets are already struggling to stay afloat.

 

Here are twelve great non-monetary incentives you can offer to motivate and keep top employees:

 

1. Flexible Working Schedule.

Offer flexible working arrangements like giving employees a chance to work-from-home once a week, or for staff to choose their core working hours instead of the usual workday.

 

2. Free Training.

Provide extensive training plans in house and offsite. This way, employees can finish their accredited courses as well as vocational training. 

 

3. Recognition.

Offer tangible recognition for employees who consistently deliver. You can send them a congratulatory email for a job well done and cc'ing in business leaders. Other ways include giving the team a handwritten note and mentioning their successes during monthly meetings.

 

4. Extra Day Off.

Provide your employees a day off (not a part of their annual leave) as a reward for great performance. 

 

5. Experiential Rewards.

An experiential reward is an experience or event that a worker earns. For example, free gym membership, a day at the spa, a pass to a match, or anything your employees might like.

These are tough times, remember to acknowledge your employees who still work hard despite the challenges.

6. Time Off for Side Projects.

Offer time out of everyday work commitments to work on projects which your employees may be passionate in but are not necessarily related to the core business.

 

7. Awards.

Hold a monthly or quarterly awards event that highlights the staff's efforts who continually perform well. You can also include peer-nominated awards to spotlight the worker(s) who consistently show leadership and assist their colleagues.

 

8. Freedom to Volunteer.

Give the employees a chance to engage in volunteer work - this can offer a nice break from the office and provide the added benefit of increased morale through altruistic pursuits.

 

9. Switch Roles.

For companies that benefit from many office locations, offer employees the chance to change the scenery by changing positions for a week or month.

 

10. Lunch With the Employee.

Sometimes, we need to go beyond. For staff who prefer one-on-one’s and personal expressions of gratitude, there's nothing like bonding over food and spending some quality time with their boss during lunch. It’s a perfect opportunity to receive feedback from your staff and address their personal issues. You can personally show your gratitude towards their hard-work as well.

 

11. Offer to Mentor.

You can offer your guidance to your workers. The best employees would love to learn more from their leaders, and it would be a great experience for them. Help your workers by sharing your experience and knowledge that they can apply at work and be successful.

 

12. More Autonomy.

Your employees love their independence. Giving them the freedom to work on a job by themselves without a supervisor looking over them would be a great chance for your workers.

 

Keep in mind that rewards are a way to show your staff appreciation for their hard work. While extra money can be the primary motivators for employees, it's often the intangible, non-monetary rewards that have the biggest effect on employee morale.

It does not matter what benefits you offer to staff, your priority is to create a workplace with an atmosphere that regularly recognises and reward hard work.

Sources: Randstad & Vantage Circle

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