We asked members of the Entrepreneurs' Organization (EO) to share their unique tactics for rewarding their employees. Here are some ways you can recognize your team for a job well done.
"We think employees should be recognized company-wide. We make our point to show our appreciation through verbal acknowledgements, whether it comes from peers, supervisors, or executive management. It's important that as a team, we come together, appreciate each other's efforts, and reach our common goals together."
Tejune Kang, EO New York
Founder and CEO; Six Dimensions
Give thoughtful gifts
"If a member of the team goes above and beyond--works long hours to meet a deadline, or finishes a project ahead of schedule--I reward them with a personal gift they wouldn't have purchased for themselves. It shows I know them on a deeper level and that I appreciate the work they do."
Keith Roberts, EO Colorado
Send personal emails
"Every Friday I send a personal email of thanks to employees who have done something that has helped develop the business, develop themselves, or made a difference. It takes just 30 seconds per email while acknowledging good deeds. The staff seems to love it."
Kusal Goonewardena, EO Australia--Victoria
Director; Elite Akademy Sports Medicine
Institute a "points" system
"We reward our employees for demonstrating our core values. We distribute 'points to award' once a month, which enables our employees to recognize each other's efforts. Points can then redeem rewards via a customizable catalog which includes goods, gift cards, and even charitable donations."
Chris Carey, EO Minnesota
President; Modern Automotive Performance
Offer "Learning Money"
"We provide learning dollars to our employees twice a year to sponsor anything of interest that allows them to learn and grow. Some people use this to improve themselves professionally, but others push the envelope by pursuing things that they would not otherwise try."
Jeff Martin, EO Minnesota
CEO and Founder; Collective Genius
"Every quarter, if our 'Critical Number' is reached, an employee celebration is held. For example, one reward this past summer was an afternoon catamaran boat ride on Lake Erie with food, drinks, and leaving work early."
Ben Sayers, EO Western New York
CEO; VoIP Supply
"I run contests where we give a company car for the producer of the month to drive for the month. We also do cash rewards, vacation, time off and bacon contests. Yes, we've awarded a pound of bacon to producers who've achieved a set of goals."
Craig Fluty, EO Albany
Principal; Pinnacle Recruiting and Staffing LLC
Split your profits
"We reward our employees as a team with 30% of all profits split between each employee on a quarterly basis. This allows us all to be focused on one major goal, which is profit."
Michael Gellman, EO Colorado