Everyone likes to feel appreciated, especially when they are doing more for less. When I was in business school we reviewed a study that showed the number one thing that employees wanted was recognition for a job well done followed by opportunities for advancement, being with a company that is growing, and feeling like their opinions were solicited and appreciated.
Here are some ideas for associate recognition on a budget:
*Birthday cards. I send a birthday card to all of my associates. I personally sign the card and address the envelope. I think that if you use a computer-generated label and have your assistant sign the card for you, you’re better off not even doing it.
*Thank-you notes. It takes less than five minutes to write a thank-you note. I do this for significant achievements.
*Gift cards. I carry a supply of $25 gift cards with me. When I hear about someone who has gone the extra mile for a customer or coworker I hand out a gift card. The thought means more than the amount.
*$100 bills. While gift cards and thank you notes are appreciated I’ve always found that a $100 bill speaks louder. Who doesn’t like a nice, crisp, $100 bill? I give these out for accomplishments well above what is expected.
*A day off with pay. This really costs you nothing but is generally appreciated a lot, unless the associate is swamped with work and a day off would only add more stress to his or her life. Keep this in mind when giving out such an award.
Jim Sobeck is CEO of New South Construction Supply, a building products distributor based in Greenville with nine locations in the Carolinas and Georgia. He is the author of “The Real Business 101: Lessons From the Trenches.” newsouthsupply.com.
