Things in business are tough at the moment and many companies are struggling to keep afloat.  There is less disposable money around, so we wondered whether the annual cash bonus staff incentive is still the way forward or whether companies could take a different approach?

Whilst employees do recognise that the company may need to tighten their belts to keep everyone employed, and being employed is, at present, reward enough, it is still hard to keep employees motivated and incentivised.  They are having to work harder, for longer, and perhaps for less pay, but there isn’t the budget to reward them for their loyalty…so what do you do?

How else can you reward and incentivise staff without breaking the bank?  There are plenty of simple and cost effective alternatives to bonuses – which will show the employees that you value their efforts and, although you may not be able to afford a bonus or a pay rise, you want to show them their work and loyalty is appreciated.

Whilst a bonus pay cheque once a year is a lovely and very welcome incentive for most employees, smaller and more regular gestures of thanks could well be more appreciated.  It could also work out cheaper for your business too – win-win!

12 Recession Busting Ways to Reward and Incentivise your Staff:

1. Something as simple as an email to thank the team for their efforts on a project and show the employees you value their work
2. You could buy cakes for the office – there aren’t many people who don’t enjoy cake!
3. If you can afford to do so, take the team out for a meal or drinks
4. Organise a staff fun day / BBQ and get everyone involved in it
5. Acknowledge their efforts by letting staff finish early one afternoon
6. With the Olympics coming up next year, you could put a tv in a meeting room so staff can watch it
7. If your business allows for it, you could offer flexible working hours
8. A bonus day off – maybe at Christmas
9. Make something free for a day – if your employees have to pay for tea or coffee (for example), make it free for a day
10. Give your staff the personal touch – recognise birthdays, last days, births etc.
11. Discount vouchers or gift card rewards so the employees can treat themselves
12. Nominated employee of the month incentive prize

There are lots of ways to show your staff your appreciation for their efforts.  Get creative and see what recession busting staff incentives you can come up with – let us know!

Get in touch with Headliners – visit our website www.headlinersgroup.com