Have you been looking for ways to encourage morale within your business and reward the most loyal folks on your team?
At Hallmark Business Brokers, we not only focus on buying/selling businesses but also do business coaching to help folks master every aspect of running their company. That means we’ve seen what works (and doesn’t work) with employee motivation.
With that in mind, here are a few proven ways to reward your long-serving employees and motivate them to stay with you for many more years.
For many employees, nothing sounds better than a raise, bonus, or other monetary incentives. You don’t have to fall for the misguided notion that money doesn’t matter. Of course it does. Otherwise, nobody would work for you. Plus, there are several ways to tie this into performance metrics, or simply to say thank you around Christmas.
Grant Extra PTO
Do you run a small business and wish to lure talented folks away from bigger corporations? Well, then it helps to figure out what they value. Lately, many employees lament the fact they never get time off work. By offering superior PTO opportunities, you can accomplish two things: 1) Show gratitude to your current team members, and 2) Attract new folks to work at your company.
Honor Them at a Company Luncheon or Event
Service awards at company luncheons are a lot of fun. You could do this by reserving a dinner event at a lavish country club, or simply using a local restaurant to cater at your workplace. Don’t forget to take the opportunity to work in a nice motivational speech.
Give Other Service Awards
Sometimes the best service awards are physical, tangible items. You don’t have to buy them a new car, but it’s nice to do giveaways, including some of your merchandise, if you run that type of business. Even if you aren’t sure what to give, you can at least pass out gift cards for popular restaurants and services.
Take Them Out for Lunch
Besides throwing a company recognition event, many employees enjoy a nice one-on-one lunch. This is a terrific way to build even more trust, acknowledge their contributions, and bond with them personally. In our experience, business works so much better when bosses, coworkers, clients, and everyone else actually get along.
That’s only scratching the surface of how you can demonstrate a real appreciation for your staff. If you’d like help with managing a business, selling one, or buying others, then consider the services of Hallmark Business Brokers. We even offer nine-step business coaching seminars for Sarasota business owners who are most interested in maximizing their profit potential.
Contact us anytime to learn more by calling 941-445-4726.