Easy employee appreciation ideas for small businesses

small business

Apr 19

A happy business team often equates to a more efficient and successful business. Simply rewarding your staff and investing time and money into retaining great employees can increase your profit margins and help you recruit qualified candidates in the future.

So how do you reward employees without breaking the budget? Of course, every business approaches employee recognition differently, but here are a few ideas!

Small Rewards Can Be Meaningful

There is plenty of data to suggest that small, consistent recognition yields the same or similar results to one-time recognition efforts on a larger scale.

For instance, you might find it fun to offer challenge coins to those employees who perform well - a tradition that began in the military but has now made its way into corporate America. A company like Challenge Coins Ltd can customize the coins with your logo, branding, or a custom message of encouragement. Awarding outstanding employees and organizing corporate gifts for employees is also an excellent way to treat employees who perform above average standards.

Presenting high performers with a small reward can significantly affect their workplace happiness.

Words of Affirmation Matter, Too

Sometimes businesses can let small achievements go unrecognized when a simple word of affirmation or encouragement would go a long way. Unfortunately, a lack of praise or acknowledgment can hinder an employee's motivation and confidence, ultimately contributing to high employee turnover or low workplace morale.

Small praise after each achievement (big or small) will show your team how much you appreciate them and recognize their efforts. Try keeping a stash of notecards on your desk and using them to send a quick note of appreciation when you notice a team member has gone above and beyond.

Have More Fun With Your Team

If your business lacks team events or socializing in a laidback or casual environment, your employees might be tempted to look for a more contemporary work environment. Having fun with your team will help you strengthen connections and workplace friendships, allowing colleagues to feel more comfortable around one another.

Host an outdoor lunch and invite everyone to contribute their favorite food or drinks to offer more socializing without the burden of asking people to stay after work or attend weekend functions. (If budget is a concern, considering getting a corporate sponsorship to help out with the cost.)

Or, consider offering a staggering four-day workweek where employees rotate having Fridays off. These small but significant actions can signal to your team that you're invested in their well-being and appreciate their contributions to the team.

Be Open To Receiving Constructive Feedback

According to Gallup, Gen Z and millennials now make up nearly half (46%) of the full-time workforce in the U.S. (Source) When asked, this group ranked having an employer who cares about their well-being as the number one priority. (Open, transparent, and ethical leaders were a close second, followed by leaders who support a diverse and inclusive workplace).

Many businesses mistake well-being for posh lounges, cushy hours, and multiple weeks of vacation. While those perks are undoubtedly appreciated, well-being typically aligns with a workplace where your voice is heard, your ideas are valued, and you feel safe speaking out about potential issues or challenges.

Investing in your team's well-being may be the most critical way to show employee appreciation, and it costs nothing to your bottom line.