Everywhere we go, we can say that money talks. Cash will always be the king and the universal language that people speak. Money is used to reward employees and also used to make amends with customers. Cash is always equated with power, influence and status.
Even though money makes the world go round, there is one problem. Everybody knows how much it’s worth. $100 on my hand is still $100 even if it was transferred to you. The value of the money is stated on the bill itself. You cannot get more than what’s written on the paper.
Gifts or tokens on the other hand have a different value. Subjective as what they say. You can definitely give your employees something worth $10 but might be interpreted as $100 for them. What if you are able to purchase a pair of concert tickets and give it to your top performer of the month? How would they see them?
This might sound very aggressive to you as this article suggests different forms of rewards for your employees other than cash. It may appear as another additional to your expenses. But it will surely save you a lot of excesses at the end of the year.
So, here are the other ways to reward your employees other than cash:
It may be just a piece of paper to some, but if it was awarded to the top employee in a ceremonial way, that piece of paper might turn out to be one of the most important papers that an employee could ever have.
The above-mentioned are just some of the ways that can be used as alternatives for cash rewards for your company’s top performers. They can help your company deliver a lot and this can make your employees strive harder next time.
Read also: The Millennials Myth
Article Contributed by HR in Asia‘s Team.