Research has revealed that ‘feeling valued’ is a top driver of employee engagement.

In a perfect world, a company would make every staff member feel valued through massive raises and lavish parties. While that’s not a realistic option for most businesses, showing appreciation fortunately doesn’t have to cost a great deal of money.

Consider the following cost-effective ways to show appreciation.

Invest in good coffee

The average worker drinks a lot of coffee in a week, and investing in a high-quality coffee option for them will be considered a big upgrade. A Keurig or Nespresso machine with complimentary coffee, creamers and sugar can do wonders for how employees perceive management.

Be sure to consult with your employees on this kind of recognition. For instance, some employees might welcome the occasional splurge on artisanal coffees, while non-coffee drinkers might prefer tea.

Allow flexible work hours

Despite becoming increasingly popular, flexible working hours are not standard in most companies. Due to the volume and/or type of work, most businesses mandate that their staff members to come in on a set schedule.

Companies that can do so should use flexible working schedules as a way to reward employees. In addition to boosting employee engagement, many companies find that flexible schedules actually increase productivity.

Designate subject matter experts

Some companies reward employees by making them subject matter experts that have a role in designing the training of other employees. For instance, a top salesperson could develop a sales script that could be taught to new sales hires.

Asking employees for their expertise serves two functions. First, it recognizes the employee for their ability. Second, it creates valuable assets for use in your training program.

Furthermore, this method of recognition results in zero additional cost to the company.

Free happy hour

You may or may not be surprised to find out that people can be highly motivated by the prospect of free food and drinks. If it’s to reward a small group and the happy hour takes place every quarter or so, this reward can be quite cost-effective and very motivational.

Happy hours can also bring people together and form stronger bonds, but companies need to set limits in order to ensure everyone celebrates responsibly.

Milestone rewards

Milestone rewards can help avoid turnover and avoid the toxic aspect that comes with trying to compete for recognition. While cash bonuses after three year or five years are effective rewards, giving out additional paid time off ensures people don’t just collect a milestone bonus and put in their two-week notice a month later.

Recognize on social media

Recognizing a great performance doesn’t cost your company much of anything, and doing so can be invaluable to your employees. This reward can be particularly motivating for temporary and contract workers who could use this recognition moving forward.

At Action Group Staffing, we work with our clients to ensure the contract workers we provide stay engaged and performing at a high level. If your company is currently looking for a talent acquisition solution, please contact us today.