Managing a start-up has its up and downs. Giving raises as rewards for employees who are working excellently becomes hard, most especially when budget allocation is too tight. However, you must find ways to make your performing employees happy minus the raise.
Employees perform well once they feel that their superiors or employers value the work that they have done for the company. Aside from a bigger paycheck, employers or superiors can show their appreciation in several ways. Here are some of the suggestions that managers gave in order to keep their employees happy.
- Transparency. Constant feedbacking and the ability to understand employee concerns is important. Share what you have learned, and how you solve issues. It is best that the company shares how they have performed as an organization. What they have excelled in, what needs to be improved and what needs to be done to become better as an organization are three of the things you’ll always need to consider. By letting your employees know where you are, they become active participants in the mission and vision of the company.
- Offer additional vacation leaves. It won’t hurt if an employee earns an additional day or two paid vacation leaves for an outstanding performance in a year. Rewards like this can become good alternatives to raises which the company might not be able to afford.
- Redesign your workplace for creativity and collaboration. The office atmosphere should be more open to communication and sharing of ideas. Provide better furniture, spacious tables and don’t forget provide snacks and beverages, if budget still allows it.
- Design a career pathway. Always ensure that there are constant training opportunities available for your employees. If employees feel stuck, where they are, chances are they might leave you and look for companies that will address their needs. There should be career planning forums held between management and employees.
- Identify who among your employees are sharing and embibing the mission and vision of the organization. Ensure that these employees are given enough growth opportunities. If they find something worth contributing for or taking initiative in. Let them.
- Maintain a positive work environment. Publicly acknowledge accomplishments, treat them to lunch. Help your employees to grow and develop by immersing them to new responsibilities, send them to training or teambuilding activities.
- Give rewards. If their monthly attendance is perfect, treat them to dinner. If they have no tardiness, give them a gift certificate or a voucher. It is important to recognize and reward employees for good behaviour.
- Appreciate your employees for doing their jobs excellently even in the smallest of ways. Encourage teamwork and open communication to increase engagement and synergy among employees. Buy a bell and use it to announce good work from employees.
- Offer benefits beyond the basic pay and government mandated benefits. Free lunch. health care, gym memberships are often benefits that employees might look forward to having.
- Involve your employees. Allow them to make a difference for themselves and for the company.