In a cash-strapped economy, many business owners may be wondering how they can keep good employees and even attract new if they don’t have the cash to provide them with monetary bonuses.
There are other items that your staff will enjoy because remember, money isn’t always everything. Here are a few items I have found that employees — and even your independent contractors — may appreciate:
- Offer flex time. The ability to work four 10-hour days or to come in late and leave early could be a very precious commodity.
- A “thank you” goes a long way. Let your staff know you appreciate them. If someone goes above and beyond, send out a company wide email and let everyone know.
- Listen to them. Make it a practice to reach out and ask their opinion. Don’t save your conversations until the annual review rolls around.
- Foster cross-company communication and collaboration. Perhaps an employee in Department A could make an impact in a project that Department B is working on — be the bridge that makes it happen.
- Don’t let boredom set in. If your staff is doing the same tasks day in and day out — and yes, we know there are those tasks that need to be done — but there are also likely items you could ask them to participate in to help alleviate boredom and shake up the workday.
There’s nothing that says you can’t have fun at work and with your employees, right? Plan a company wide picnic, offer an afternoon siesta where you provide some snacks and time to simply relax. What can you do to reward your employees that don’t involve cash?