5 Ways To Reward Your Employees

Employers know that their employees perform and thrive better in a work environment that not only promotes their well-being but also recognizes their good work. Rewarded behavior is perceived as desired behavior and employees are more likely to perform better when their productivity is encouraged and recognized. A well-chosen employee rewards program goes a long way to help establish an employer’s work standards and provide a means by which employees gauge their performance.

Here are 5 ways to reward employees for their hard work and motivate them to do even better. Our recommendations are arranged from the most affordable to the more premium types but each is guaranteed to make company employees look forward to the awards they so deserve.

Snack Box
Snack boxes contain a selection of snacks that can range anywhere from chips and cookies to candies and bars. Virtually anything goes. Snacks may be sourced locally or from all around the world. Snack boxes are fun, thoughtful, and tasty treats to present to an employee for a job well done. Snack boxes from Snacks With Bite are great as a reward for one employee or for a group. It can even be made into a monthly reward, which works well for productivity- or results-based work. A snack box is an affordable, customizable, and fun way to tell an employee they are a valued member of your organization.

Time Off
Although time off is a company benefit that all qualified employees earn, extra vacation leave credits go the extra mile. Time off is one of the most popular non-monetary rewards for excellent work performance. Many employees spend majority of their time at work and would appreciate some time off to spend with themselves, their families or friends simply to have fun, rest, take up a hobby, or go on a short trip.

Paid-For Training
Training as a way to reward employees was once an underrated strategy for many companies. Some employees may even view it as a cumbersome activity – something that gets in the way of their job. However, training holds an intangible value that later translates to all-important tangibles. With relevant and timely training, employees become more informed, more knowledgeable, and more skillful at performing their job. Work-related training is also a great way for employees to learn skills that could qualify them for a better position or even a promotion.

Event Tickets
Another great way to reward employees who have shown exceptional performance is a chance to see or participate in an important event. Tickets give the employee access to fun events such as a sports game, movies, concerts, and festivals. If a truly premium experience is preferred, the employer may even choose to provide VIP access to a special event where an employee can enjoy special privileges for a day.

The type of events may even be categorized depending on the type of reward that an employer wishes to give away. An employee who has reached a certain level of productivity, for example, may receive a higher value ticket. With graduated rewards, employees can look forward to a number of options while ensuring that their performance is up to par.

Incentive Travel
This employee reward is admittedly the most expensive in this list but it can be a very effective way to increase motivation and encourage productivity among workers. Incentive travel is not just a reward but also an experience. It can consist of a short trip, one that involves a location within the city or town where the employee works or a longer trip to another city, state, or even country. Many companies reward their most valued employees with paid-for vacations as a way to show appreciation for completing a goal. Vacations are often given away as a sales incentive by many companies to their employees and employers often use it to reward exceptional results.

Business Advice and Tips for Start-ups

As a start up business, the chances are that you’ll want to do everything that you can to take your small enterprise and turn it into a powerhouse of profitability. Everyone has to start somewhere and even the biggest names in the industry will have begun their lives as a small idea waiting to take the world by storm. So, here’s a little business advice to help you to enhance your productivity whilst reducing your risks in the process.

Secure your funding

Without funding in the form of finance or loans, some companies might struggle to even get off of the ground. Unless your agency has sourced its cash from private investors or your own savings, you may find yourself needing to request support from a third party lender to help you to find your feet. A good loan broker or finance specialist could help with these endeavours.

Minimise your overheads

Overhead costs are a necessary part of business expenditure, but without proper care they could end up taking a huge toll on your finances. Some overheads can be considered expenses which are often tax deductible, but others aren’t – so it might be worth getting in touch with an accountant for clarification, or to help with managing finances in general.

Maximise your expenses

In Australia, it’s entirely legal to submit tax returns that include expenses and as long as they fall into specific categories (such as uniform allowances for instance), these costs can be subtracted from any taxable sums owed. The more business expenses you accrue, the less tax you may have to pay – but it is also worth noting that you will need to ensure your adherence to particular taxation policies to avoid getting into trouble. A good accountant should be able to help with these practices.

Claim your assets

Claiming assets in a digital sense means taking control of any relevant websites, databases and social media pages that can be used to promote your business. If your brand has a name, it should match your website – as well as any dedicated social pages that you own. Not only can this help with brand recognition; it can also make it much easier for your customers to find you. The simpler it is to reach you, the more likely it can be for you to see a return. With a media agency, particularly one that specialises in marketing, you could find yourself being propelled into the public eye and maximising your profitability in the process.