Few people will argue with the fact that a motivated employee is a happy one. Many employers always look for ways to reward their employees, including giving them money or bonuses at the end of a fiscal year. Nevertheless, there are many ways an employer can pay their staff without necessarily having to use money to boost their morale and productivity at work. Below are some of the alternatives you can use to reward employees without having to hand out cash incentives.
Offering flexible working conditions
Technology has certainly changed the scope of how we work by enabling most businesses to operate in the cloud. When operating in this fashion, employees do not need to be concentrated in one office to get the work done. They can work from home and upload their work to the cloud via the Internet. Therefore, allowing them to work from home will be one way of offering flexible conditions. You can also enable them to combine a whole week’s work and clear it in two or three days and spend the rest of the time as they wish. Moreover, you can change their shifts when they need them.
Teach and improve their skill set
You probably hired your employees because of individual quality of skills they had, and you might be thinking of rewarding them by improving their skills. Yes, allowing your employees to sharpen and increase their skill level will motivate them to tackle new challenges at work and will not cost you a ton of cash. You can leverage with some of your business networks and find leaders from other companies to come and voluntarily give their professional tips and pieces of advice to employees without having to pay for them, or in exchange for doing the same for their employees yourself. Additionally, you can sponsor vocational training programs for employees to allow them to study and become better versions of themselves. Moreover, you can set up programs specially designed to offer training and skill-polishing to employees.
Offer More Responsibility
Most people will argue that offering more responsibility without any cash incentive accompanying it will not add up to motivating employees. However, this is not the case and is not valid for all employees. Some of your employees will be interns and volunteers from colleges looking to gain skills that will put them at the forefront of getting employed in the future. Therefore, providing more responsibility to them will be a challenge to improve their skill level and may motivate them to work harder to handle the task assigned to them. You can also involve them in recruitment advertising in the Bay Area to help choose the next lot of employees for your company.