Employee Reward Program & Compensation Ideas

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Exceptional performance from your staff might not be something that you would expect all of the time, but when your job is done well, there’s a need to set up an employee reward and recognition program to appreciate how hard your staff is working.

Although you pay your employees a wage to come and work for you, it is important to set up an award program for best practices, especially employees with long service year who keep having their jobs done well

Generally, you can set up an employee recognition program for the year of service in form of a small anniversary.

The purpose is to show appreciation to all workers, reward excellent performances so as to motivate new employees.

There are many ways that you can reward your employees, which is both beneficial and annoying.

On the positive side, having many ways to reward your employees means that there are appropriate awards for businesses of all sizes.

On the less positive side, this also means that you have to choose from a wide range of rewards for your employees – which can be difficult.

Here are some of the best compensation strategies, the importance is to boost the morale of your workers in the workplace.

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Although some are more creative, some are just pure effective.

How to compensate your good employee

A monetary Bonus

If you care to know how best you can reward your employees for a job well done, financial compensation, either direct or indirect is most appreciated and this strategy should be adopted.

The fact is that workers always believe they should get more for their efforts.

Not so creative but definitely appreciated by anybody on the receiving.

If somebody has been more productive than you would have ever expected, it is important to reward them, but it is difficult to organize something extravagant.

Sometimes, a simple monetary bonus is all it takes to show your staff that you appreciate all of their work.

A bonus can be something that a business of any size can easily offer because the size of the bonus can be something of your choosing.

For example, a small business might simply offer a bonus of £20.

A bigger business might offer a larger bonus, but the size of a bonus is all relative.

Regardless of the size of your business or the size of the bonus on offer, no employee is going to complain about being on the receiving end of a little extra money!

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Employee Appreciation Gift

If you fancy offering a gift to your hardworking employees rather than simply giving them extra money, that is a great idea!

Who doesn’t love receiving a gift that they really didn’t expect to be receiving?!

Gifts, again, are relative to the size of your business.

Your employees won’t be expecting to receive the latest iPad if you are a small-scale business.

Instead, something such as a bottle of their favorite alcohol could be an appropriate reward for hard work.

What you need to do here is to be creative with the appreciation gift.

Make it fun and unique, not necessarily expensive but make it wahoo.

 

A Corporate fun Day

A corporate fun day is a perfect way to reward a group of hardworking, overachieving employees, exceeding both a gift and a monetary bonus.

Also, it is usually filled with team building activities that will strengthen coworkers.

Corporate fun days come in a variety of shapes and sizes, with a variety designed to suit different businesses.

There are also a variety of activities you can take part in as part of a corporate fun day, such as the following:

 

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Fairground experience corporate fun day:

If you are looking to throwback to the good old days when you used to enjoy going to the fairground and forgetting all your worries, this fairground experience could be one of the best ways that you can reward your employees for all of the hard work that they have put into their work recently.

This is one of the fun things you can do with your coworkers outside of work. Just make it one Friday and have fun.

 

Inflatable activities corporate fun day:

Is there anything that’s more fun than a day of inflatable activities such as human table football and demolition knockdown?

Well yes, probably! However, this is surely one of the ways that you can best reward your employees for all that they have achieved in recent times.

You can put the workers into groups and engage them in games and competition.

Fitness challenge, table tennis, Werewolf, eat poop, you cat are some of the games you can include.

 

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This article was written by Jack Mitchell with useful information from ATM Events.

Jack is a Yorkshire lad with a love for film, reading, and the great outdoors.