In Lieu Of Money
With economic recovery still out of reach for most, many businesses are looking for ways to reward their employees without offering raises. K. Habib Khan, chief academic officer of the School of Business at Stratford University in Virginia, has some suggestions.
Khan offers 10 ideas for rewarding workers on the cheap:
1. Offer extra time off, even just a day or two over the year.
2. Provide flexible schedules, like four 10-hour days or one work-from-home day a week.
3. Make the dress code casual, or at least offer casual Fridays.
4. Bring in a catered lunch once a month.
5. Celebrate birthdays with cake and gift cards.
6. Bring in a mobile company to wash everyone's car.
7. Hire a massage therapist to give employees free chair massages.
8. Keep stashes of gift cards, event tickets or health club memberships to give out as rewards for excellent work.
9. Set up a rec room with a TV, pool table or air hockey game.
10. If you can't give a raise, offer a new title at the same pay to show your appreciation.
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