HR Strategy

Kudos, Not Cash – Budget-Friendly Employee Recognition

February 12, 2017

Employees everywhere appreciate getting a monetary bonus for doing a fantastic job or burning the midnight oil. There is also no doubt that extra cash motivates many employees to apply themselves with extra effort at work. Although some employers offer bonuses, many simply don’t have the resources to provide financial rewards. When businesses are faced with tight budgets, they often need get creative to reward and recognize their employees.

Using creative non-financial incentives can just as effectively improve employee performance, and motivate employees to reach those all-important organizational goals. Most employees appreciate being recognized for their efforts, regardless of whether the rewards are financial or not. For many, just knowing that management is aware of their hard work and achievements is all they need to keep feeling good about and valued for their contributions in the workplace.

There really is no limit to how creative you can get with your rewards and recognition programs. Whether you have a very strict or formal recognition program, or a spontaneous method of rewarding top performers, there are always interesting and innovative methods you can implement to keep people performing their best.

In the end, it doesn’t matter if your efforts are on a small or a grand scale; what matters is that you put effort into recognizing a job well done. Download our Employee Rewards Guide, which includes helpful methods of rewarding your top performers, so they’ll feel their hard work is recognized and appreciated.

While HRdownloads uses reasonable efforts to maintain this site/blog and its Services in an up-to-date fashion, it does not warrant the completeness, timeliness or accuracy of any information contained on this site/blog or any of its Services, whether in English or French, and may make changes thereto at any time in its sole discretion without notice. All information and Services provided by HRdownloads are provided to members and/or users “as is”, “with all faults,” “as available” and at the sole risk of members and/or users. Our human resources information and recommendations are based on seasoned, best practice field experience and should not be construed as legal advice.