3 Ways To Reward Employees Without A Bigger Budget

The best way to recognize the hard work and good performance of an employee is by giving them money, either as a bonus at the end of a month or year or as an above-average pay raise. However, as a property manager you might not have the authority to improve someone’s paycheck, or your budget might not have the money to spare.

Still, it’s important to recognize employees who do a good job. Not only is it a way for you to say thanks, but your whole staff will work harder when they know that work will earn them a reward. So when a financial reward isn’t possible, you should use alternatives like the following ideas to keep your staff focused.

1. Improve The Workspace

Even if you don’t have the budget for raises, you might have some money you can spare on workplace and tool improvement. Your employees will enjoy working in a clean and well-decorated room, and they’ll definitely like using new tools, modern apps, and other equipment that will make their jobs easier.

2. Offer Preferential Treatment

Many workspaces have an employee of the month program. Not only can you use that at your job, you can make it mean something by offering the chosen employee several perks. This can include a better parking space, a looser dress code, a longer lunch break, a free lunch, a framed photo you put up with a small ceremony, and more. Don’t be afraid to get creative or think of things that will appeal to the chosen employee.

3. Consider Flexible Hours

If an employee can do their job at any time, consider switching their schedule from fixed hours to flexible hours. While flexible hours have both benefits and drawbacks, giving them to an employee shows that you trust them to still put in the time every week and do their jobs without direct supervision. Telecommuting is another way to show this trust, although it’s not possible for every job position.

It’s important to recognize employees who do their jobs well. If someone gets the same results from working hard and being lazy, they’re much more likely to be lazy. So when the budget doesn’t let you offer financial rewards for good work, be sure to offer other rewards that your employees will value.