A large part of performance management is recognizing when your employees do well. Oftentimes managers think of raises and bonuses as the only way to acknowledge a job well done. If there isn’t room in the budget for these rewards, however, leaders are left wondering how to tell their workers they’re appreciated. Fortunately, there are ways to say “good job” without cash:
1. Call out at team meetings
One quick and easy way to recognize someone who has worked hard is to give them a call out at a team meeting. This pulls double duty in that it gives your hard worker a chance to shine and shows everyone else that effort is noticed.
2. Informal recognition
All shout-outs don’t have to be part of a formal process or setting. If you noticed someone work particularly hard or improve on a weakness, you can thank them by taking them out to lunch or coffee. This doubles as a great networking opportunity and a chance for you to learn more about your employee.
“Catered lunch is a great way to say thanks.”
3. Outings and events
Sometimes you’ll want to recognize more than a single employee. For example, your entire team might reach all of their goals for the month, which is certainly a feat worthy of acknowledgement. The perfect way to say thanks to everyone all at once is to hold a team outing or event. Even something as simple as catered lunch on the company is a great way to say thanks.
Promotions typically include a raise or a bonus, so this technically isn’t a cash-free way to recognize an outstanding employee. However, managers should stay aware and keep this in mind when deciding how to move forward when someone does well. If one of your workers consistently goes above and beyond and is interested in advancing, talk to him or her about a promotion. Not only will this foster a sense of recognition in your office, but it will also ensure your team is led by the strongest people.