Appreciate Your Employees with these Cost Saving Ideas

Everyone likes to feel appreciated, and employees are no different. In fact, studies show that more than half of employees would leave their current job for a company where their efforts were clearly appreciated. Fortunately, there are things that you can do to make your employees feel valued that cost little but mean a lot.

Say Thanks. People want to feel that their hard work is recognized. If you notice an employee worked over the weekend to meet an important deadline or stayed late one night to solve a problem, say thank you. Although it’s a small thing, employees do enjoy knowing that their hard work is recognized and appreciated. You may even want to consider a handwritten note of appreciation; recipients find these even more meaningful.

Offer Incentives. Everybody loves incentives. Fortunately, there are nice things that you can do for your employees that won’t end up breaking the bank. For instance, you could allow casual Fridays or offer up a prime parking spot to the employee of the month. Tell your hardest worker to go home a couple of hours early one Friday. Think in terms of things that will be appreciated but make little impact to your office budget.

Reward Group Successes. It’s far more cost effective to reward a group than an individual. So the next time a group in your office meets a major milestone, consider a pizza party or bring in donuts as a treat. Again, these things don’t have to cost much but they will make your employees feel like valued members of the team, and happy employees will reduce turnover while improving office morale.

Additionally, your happy employees may even result in greater revenue, says Dr. Noelle Nelson, author of the book, Make More Money by Making Your Employees Happy. “When employees feel that the company takes their interest to heart, then the employees will take company interests to heart,” she says. Furthermore, she cites a Jackson Organization study which indicates that “companies that effectively appreciate employee value enjoy a return on equity and assets more than triple that experienced by firms that don’t.”

As you can see, creating a workplace where value is recognized and appreciated is win-win for everyone and can be done at minimal expense. Use the tips above for improving the atmosphere at your office.

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