If you're a smart business owner, you value company loyalty - From customers and employees - Because it positively impacts your revenues.
If you’re a smart business owner, you value company loyalty – From customers and employees – Because it positively impacts your revenues. The tips outlined here will help you reward your hardest working employees while encouraging business growth…
Office parties are great because you can celebrate the small wins. However, for those projects that earn big revenues, larger rewards should be implemented and considered an investment on the internal brand.
You need to think bigger:
Company loyalty positively impacts your bottom line. Here are some creative ways to fuel the win/win.
What does the concept of company loyalty mean to you? Does it still make sense today? We think it does… Why companies wouldn’t reward loyal employees escapes us, as it is a productive effort that continues to bring positive influences toward the business. Especially for small businesses! You might consider implementing your own reward system. It is quite simple to do. Let’s explore six easy ways to reward your best employees and promote company loyalty…Handwritten Notes
You may be underestimating the power of handwritten notes — Especially when they come from a supervisor or CEO. The best thing about them is that they have very little cost and do not require a large time investment. These simple expressions both acknowledge a team member and show them that they are valued. Combined with a token item that would be appreciated by the individual, and it would mean even more. You can choose to use branded stationary and put the notes in their HR file as well.Magazine Subscriptions
Magazine subscriptions really are a great reward because they keep on giving. A lot of magazines will give you a discount if you choose to take them out on an annual basis. They are deal for those who have a keen interest on certain topics. You can choose to assign a specific magazine to help your staff understand more toward job performance, or let them choose their own for enjoyment during down time.Perks
Who doesn’t love a good perk?- Big brand discounts
- Travel programs
- Yearly attendance at industry conferences
Office Parties
- Pizza parties
- Barbecues
- Dessert bars
Milestone Celebration
Every successful company tracks project completions and yearly goals. Recognition is especially vital for teams that work on huge projects requiring a lot of time – Each day, and for the long-term.
Office parties are great because you can celebrate the small wins. However, for those projects that earn big revenues, larger rewards should be implemented and considered an investment on the internal brand.
You need to think bigger:
- Leadership retreats with recognized thought leaders
- Big-ticket incentive prizes
- Large-scale celebration events with celebrity presence
- Company cruises
Paid Time Off
Time off is a great motivator for your team and it is also one of the most effective ways to make them feel appreciated and show you care about their well-being. The time away from work should be in addition to their regularly earned vacation time. Some may already know this as “comp days.” You can choose to give them time off or you can go a step further and give them a gift card for an airline so they can fly to see friends or relatives.Final Thoughts On Company Loyalty
Company loyalty today looks different than in years and decades past – From both the employer and employee perspective. Regardless, professional loyalty should be rewarded. Both the company and the hard-working employee benefit. FJ0 Replies
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