5 Great Rewards for Employees

Start-up companies don’t necessarily have the money to provide employees with the same rewards that large corporations can — when the company has just started making a profit, it’s difficult to pay out bonus checks every Christmas. This doesn’t mean that employees at start-up companies don’t deserve rewards, or that they can’t receive them; start-ups should consider a few of these creative, and often more coveted options, that personalize a work experience and remind employees why they took on a career with a small company in the first place.

5 Rewards that Don’t Break the Bank

  1. Flexible hours

    The most useful rewards for employees aren’t necesarily monetary. Job seekers are often looking for flexible hours, because everyone has a busy schedule — employees with children, especially, are prone to want hours that make it easier to see their children. By providing more flexibility as employees grow within the company, employers are offering not only the freedom to get work done when the employee finds it best suited to his or her needs, but also recognizes that employees are people too — by providing flexible hours, there is a mutual respect established that strengthens bonds within the office, and keeps both employees and employer happy.

  2. Education benefits

    Providing compensation for education makes sense for everyone in the office; the employer has more useful employees, and the employee is increasing their worth within their field, which benefits both his/her time at the startup, and his/her future career. Employees will appreciate the ability to take time off in order to attend conferences that pertain to their work, and, if possible, providing some compensation for college credit at local or online schools is also a big plus for prospective job seekers and current employees.

  3. Recognition awards

    Everyone wants to know that they are doing their job well, and that their boss recognizes their accomplishments. In order to improve employee satisfaction, consider recognition awards for a job well done — this could mean something monetary, like a gift certificate or small, personalized gift, or something simple like a letter or card. A note with recognition awards: unless working with a pre-established system, it is best to keep these private unless employees comment that they want a more overt recognition around the office — before giving out plaques, consider what will make employees comfortable. Oftentimes, a private recognition letter is enough.

  4. Opportunity to travel

    For startups with a bit more money in the budget, or small companies that are well-established, offering employees a vacation for a job well done is one of the most thrilling awards. Though monetary, a vacation, or even the opportunity to attend an enjoyable work-related function at a distant location, is a nice break for any hard-worker. Consider company retreats if the company is small enough — a personalized vacation package can be worked to fit almost any budget, and traveling together will strengthen relationships within the office, as well as improving individual attitudes.

  5. Office improvement

    Startups especially are usually housed in slightly less-than-ideal quarters — using money to improve office spaces for employees can boost morale, is an indicator of the success of the business, and thus the success of the employees, and reminds the employees that it isn’t all about business, and that their employer is interested in their well-being and their happiness. Upgrading to a larger office isn’t always necessary — providing a nicer lounge space, with a kitchen, or even a new appliance like a Keurig to make life more convenient for employees, can be enough for employees to know that their employer is interested in their happiness.

13 thoughts on “5 Great Rewards for Employees”

  1. Benjamin Cip says:

    There are also special discount price for Travel Check in my country. Some Start-up make deals with insurance companies and offer discounted insurance price (different from the public price) to increase their employees purchasing power. If the company make a deal with local restaurants and bistros, and offer restaurant tickets to their employees, it’s a great way to reward them.

  2. Erwin says:

    Hi everyone,

    I work in a big company and I don’t get even this very good and low cost extras!
    This five examples are very cheap for the company and can give the employees good value, but the bosses sometimes forget about the workers and they are focus only on the moeny.

    Thanks for shareing and I hope the right people will read this post.

    All the best

    Great DVD: http://howtobuildlistfast.info

  3. faisal says:

    and best is bonus!

  4. Kael says:

    Flexible hours is incredibly beneficial.

    It takes away from peoples “power” hours. Or if they have a new family it is important for them to be there during specific hours to help development of their children.

    Recognizing peoples creativity arrives at different moments of the day is key to allowing genius like ideas to flow.

  5. Keshav Yadav says:

    Another blog post, which has made my knowledge extensive

  6. I. C. Daniel says:

    I don’t have any company but I’m glad you shared these tips.

    Best regards from I. C. Daniel

  7. Bryan says:

    A few stock options can do wonders too 🙂

    1. Louis says:

      I’ll go with this one. If the company does good in the stock market 🙂

  8. Denzil says:

    These are very nice examples that well known companies don’t even use. I hope there’s many business owners that can take lessons here to reward employees hard work.

  9. Sanju says:

    Great post. I think you should also add Family’s Medical Insurance to your list. Because these days, people first look for security for their family.

  10. Stephen says:

    Awesome post! I think that Flexible hours is the best in your list that applies to myself because I can juggle work with family and other money making opportunities.

  11. No mention of meetings with some pizza on the side? Taking the burdens off your employees for a while in order to discuss issues and company plans while enjoying some good food should be reward enough.

  12. Riza says:

    I don’t know about other people, Anna, but for me even a small act of appreciation like saying “good job!” means a lot. I’m glad an article is made about appreciation- it’s definitely the reason behind “awards” and the suggested list is awesome. 🙂

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