Reward System for Employees: Non-cash Perks Your Staff Will Love
As a business owner, you may be looking for ideas to motivate your employees to perform at their best without using cash as a reward. Non-monetary rewards don't just save you money—they also let your employees know they're seen and known by you, making them feel understood and valued in a more meaningful way.
These practical tips and ideas will help you create a reward system with a personal touch.
A recent Gallup study uncovered some surprising findings when it comes to rewarding employees: Only about one-third of workers reported they'd received praise or recognition for their work in the previous week. Those workers who didn't report receiving recognition were twice as likely to say they planned to leave their job within the next year.
Creating a reward system for employees that goes beyond cash bonuses can help with company morale and employee retention. While recognizing the value your employees bring to the table, you also strengthen their commitment to your company.
Your employees want to be recognized
Before deciding which non-financial rewards to provide, make sure you really get to know your staff.
Employees want to know they matter to you as people, not just as workers. As you learn about your team, you'll begin to understand the manner of recognition that most resonates with them, both as a group and as individuals. Do they seek company-wide recognition for their efforts? Extra time with their families? Public or private praise? How do they spend their downtime? What are their hobbies and interests? Ask your employees how they prefer to be recognized or take time to learn which of the 5 Languages of Appreciation resonates with them most.
Use these ideas for inspiration as you create your own non-monetary reward system:
- Recognition in your community through an email newsletter, blog, or social media profiles
- Specific praise for what they've accomplished in personal letters
- Spotlights on an Employee of the Month board in a central location
- A special recognition badge on employees' bios on your company website or app
Mental and physical wellness rewards
- Personally engraved journals
- Short-term subscriptions to healthy meal delivery services
- Subscription to healthy living apps for sleep, yoga, meditation, or movement tracking
- Paid lunches catered at your business
- Vouchers for spa services such as massage, facials, manicures, pedicures, or reflexology
Professional development rewards
- Ring lights, selfie sticks/tripods, or microphones for employees looking to up their social media game
- Enrollment in continuing education, including industry workshops, seminars, or conferences
- Professional photo shoots or video shoots for their social media (and yours, too!)
Personal value rewards
- Experience-based gifts specific to outside interests such as fishing, hiking, or rock-climbing excursions, or classes for cooking, playing instruments, dancing, or crafting
- Tickets to a concert, amusement park, or aquarium for their family
- Branded, customized swag such as personalized water bottles, apparel, or yoga mats
As you consider the best rewards for your staff, align your company's values with your employees' interests. Personalization and thoughtfulness go a long way, too.
Your current team will appreciate a reward system that honors their physical, emotional, mental, and spiritual health and well-being. It may also entice new hires to your fitness, beauty, or wellness business.
Looking for more non-monetary ways to incentivize your team and top performers? Check out these Mindbody webinars: