Want to reward staff without adding to payroll cost? Here’s how to do it
With businesses increasingly feeling the economic pinch, employers are considering ways to reward staff without having to increase salaries. Below are some suggestions:
Additional holiday leave
An excellent way to thank or reward staff is to offer additional holiday entitlement. This can be seen as a major staff perk and is likely to retain valued employees seeking a work-life balance. In 2022, there is an additional bank holiday to commemorate the Queen’s Platinum jubilee. Not every employer is obliged to recognise this holiday if they don’t contractually recognise official bank holidays, so this may be a good way to provide an additional day’s holiday without it becoming an ongoing entitlement.
Examining Job Titles
There are various motivators in work, and some staff are motivated by status; so looking at job titles and formalising structures can make people feel valued and important to their employer. A title change will be the motivator to increase an employee’s status and encourage them to stay in their role.
Offering training is a very practical way to invest in employees and reap a return on that investment – upskilling your workforce is crucial and in turn, your employee gets a number of new skills they might not have achieved without you.
Sometimes a staff social event is a great way to say thank you. As restrictions ease, planning that summer barbecue or get togethers can really help employees feel like a team again as well as making people feel that their contribution is valued.
Spruce up the Office
It has been shown that pleasant working environments aid productivity. As employers are trying to encourage their teams back into the office, perhaps a mini upgrade is the motivator that might be needed? A lick of paint and upgrading chairs doesn’t cost a fortune but helps engender pride in the workplace.
This subject has been high on the agenda for months and it is important that employers think about how they can offer flexibility in working – whether it is looking at changing hours to accommodate school holidays or allowing home working in particular circumstances on an ongoing basis to reduce cost of commuting.
121 HR Solutions can support implementing changes in the workplace and would be pleased to discuss practical ways to aid motivation – call us on 0800 9995 121 to discuss further.