Business owners are often so focused on correcting their employees’ mistakes that they often forget to react when they get something right. Management is not only about focusing on the negative—in fact, it should be more about boosting your staff members’ ego by celebrating the positive. It is vital for business owners to show their employees that they appreciate their time and effort. Not only will this lead to a happier corporate culture and more loyal employees, but it will create more efficient workers.
A study found that when bosses show their employees they appreciate them, the workers become more empowered and productive. Another study held up these findings, citing that 69% of staffers worked harder when they felt the appreciation from their bosses.
Creative Ways to Show Appreciation to Your Employees
Small business owners tend to feel that they can’t afford to shower their employees with gifts. However, a show of gratitude and appreciation doesn’t have to cost an arm and a leg. There are low cost and even free ways to show that you care.
If you love to watch the Oscars, create your own award ceremony at the office. You can find low-cost medals or awards and engrave them with the achievements of your employees. It’s up to you if you want to focus on recognizing your top players, or create an award that will honor every member of your team. Don’t forget to include everyone, such as cleaning people or delivery drivers.
You can make this fun and silly, creating awards for categories such as “Best Dressed,” “Best Work Husband,” or “Most Deserving of a Break.”
We’re not talking about coupons to grocery stores here, but coupons that can be redeemed by employees when they need them. They can entitle your staffers to time off, an extended lunch, the ability to come in early or leave late, or time to pitch an amazing idea they have. This won’t cost you anything, but will empower your employees to use them when they may simply need a break or a boost at the office.
Special Perks at Work
If you ever got to be principal for the day at school, you know how special it felt to get that designation, at least for a short time. To show your employees you appreciate all that they do, offer them special perks at work.
This can involve choosing an employee of the month and then allowing them to be CEO for a day. You would obviously limit their power on top level decision making, but they can decide on other things, like what to order for lunch that day, to set a casual dress day, or to create a wacky day when everyone dresses up as superheroes.
The three ideas mentioned above are fun and low-budget, but they truly do work. Oftentimes, it’s not the monetary value of the gesture, but the simple act of showing appreciation. However, if you feel that your employees are deserving of something more, such as bonuses, turn to IOU Financial for a business loan. We work with small companies to offer hassle free and fast loans of up to $300,000. Contact us today to learn more.