Do you consider employee rewards as part of your strategy? Your amazing employees deserve appreciation and acknowledgment, don’t they?
Yes, every employee wants to feel appreciated for a job well done.
For many companies, that appreciation is structured as monetary incentives like bonuses and cash rewards. They require clear communication and parameters.
However, these days, business owners are looking beyond these types of incentives for employee rewards, and instead going the creative route to reward their employees in unique ways. At TLD, we love creativity and as a small company haven’t got a huge pile of money stashed anywhere!
Here are some unique and innovative employee reward ideas you can incorporate into your business.
Experiential employee rewards
Experiential rewards are all about unique, memorable, and personal experiences. The right experiential reward can provide an unforgettable experience that inspires employees, motivates them, and makes them feel appreciated and an essential part of the team.
There are numerous options for experiential rewards because they should be personal and every employee is different. They can range from sports games tickets and art workshops to adventure trips or the opportunity to dine at a restaurant with a celebrity chef.
Technology can also be an employee reward
We rely on technology in our daily and professional lives more than at any other time in history. This is why many people would appreciate receiving tech they have been wishing to buy themselves. You can start with something as simple as a tablet or pair of headphones and go up to and beyond a powerful gaming laptop.
Gift cards are typically seen as a personal gift, but they can be the perfect reward for the right employee. We’ve used them before with an employee card from Volopa, and we’ve experimented with others. Businesses can reward employees in the form of gift cards to their favorite stores or to get something they have desperately wanted for a long time. The good news is that there is software to make it easy to reward your team for a job well done with gift cards as you have physical and digital options.
Gift card fulfillment platforms even allow you to personalize the rewards within the card, control and approve individual budgets and buy the gift cards in bulk so you always have enough regardless of the team’s size.
Flexible work arrangements
This option might not seem like much of a gift, but many employees would appreciate the work-life balance that comes with a flexible work arrangement. Is it an employee reward, or a default? It depends. You can reward only your top-performing employees with the option to work remotely. Those who proved they can manage their own time and focus well.
At TLD, we are a fully remote team now, and we wouldn’t return to the office based environment. Especially because we’re in 4 countries!
Another employee reward idea is to can adopt flexible work hours, or set up a hybrid arrangement that fits how they work best.
Office upgrades for rewarding employees
Before we would go to work physically in our amazing offices in Soho. And it did bring us a lot of interest from talented recruits! How comfortable and inviting the workplace environment is can impact your employees and your business in different ways. It can also affect your employees’ health and well-being. For example, employees can get injured if they sit on non-ergonomic chairs, or do not have the option of standing while working. Creating relaxing break areas, or asking your employees to suggest upgrades that would make the most difference to them.
In addition, technology upgrades to improve productivity and job satisfaction.
It’s worth opening your mind and looking beyond monetary rewards and incentives. Innovative and creative ones can be used alongside or beside them. The most effective employee rewards align with the company culture, employee preferences, and overall business goals. The right incentives can improve employee engagement, retention, and job satisfaction while fostering a positive and motivated workforce and workplace.