Employee recognition does not have to cost a fortune to be effective. It doesn’t even have to be monetarily based at all! In fact, research has shown that money, salary level, and cash bonuses may not be an effective means to motivate and satisfy employees.
More cost-effective means may actually harness the greatest impact on employees and your budget. Therefore, as the year comes to a close, FMP has targeted five cost-effective ways to recognize and reward your employees.
- Take time to hand-write thank you notes.
- Start each team or staff meeting with employee shout-outs or kudos to highlight their accomplishments.
- Showcase exceptional employees or project teams in your company-wide newsletter.
- Reward a high performing employee with a one-on-one lunch with a company executive or industry thought leader.
- Cater a team lunch or happy hour for outstanding team contributions at the end of a project.
With over 25 years of experience supporting human capital efforts across a variety of organizations and industries, FMP Consulting has the expertise to curate customized and effective employee recognition programs. Contact us today to see how we can support all your organizational needs.
 Judge, T., Piccolo, R., Podsakoff, N., Shaw, J. & Rich, B. (2010). The relationship between pay and job satisfaction: A meta-analysis of the literature. Journal of Vocational Behavior, 157-167.