What Is The Second Best Way to Reward Employees?

enveloped on 28/12/2023 - 22:38
Last edited 29/12/2023 - 10:25 by 1 other user

Hi, I'm a struggling small business, so the first option of just handling cash is out of the question.

What is the second best way to reward employees? One employee has a clearly expressed wish for the solar generator, so that is covered; another has a son in Spain, so I hope I can get a cheap ticket for the son to see his dad.

But generally, what options do I have to reward other employees who worked hard last year? Before you neg me, they are fairly compensated in the first place regardless New Year bonus or not.

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  arabella164 on 30/12/2023 - 15:20

  A cruise vacation can be a really cost effective option for you to give to a couple/family. Maybe something local to North Queensland, the Pacific Islands or even a cruise to nowhere. Combine this with the additional time off (4-7 days) and you automatically become the world’s best boss.

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    callum9999 on 01/01/2024 - 15:23

    If I was given a cruise as my work bonus (with the knowledge it was bought for me with cash - as opposed to them just having a free cruise voucher lying around) I'd be incredibly annoyed!

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  jtc13 on 30/12/2023 - 17:12

  Extra time off still paid. If you have some less busy times of the year rotate your employees 1 at a time for a week off. Still pay them and let everyone else know they might have to work a little harder that week as you are one down in the team but everyone gets their turn at the benefit.

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  nightfever on 30/12/2023 - 17:13

  Additonal once off paid time off + 2k cash bonus is pretty decent if you felt that you must, I am sure it's the thoughts that counts. Even $2k cash is a decent give. I wish I received $2k in cash! Even $1k is pretty good. (I am coming from the angle that you have decided to give the other person a solar generator).

  I don't think your worker would think what they got given is not enough to cover what they want - that sounded ungrateful. I mean.. unless its something like a $50 giftcard… :P

  Also, you're overthinking it and overcomplicating the matter. You could be honest with them by letting them know that the time is tough, but you would still like to reward them for their hard-work.

  In general… I guess an extra paid day off every 2-3 month is nice to have (was going to suggest extra day off per month, but if the business is struggle.. it might not be realistic to do that)? Or free Friday drinks… workplaces seem to do that a lot these days (along with free pizza)…

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  brad23man23 on 30/12/2023 - 18:16

  Has to be additional annual leave - even if it’s just a couple of days to say thank you - I’m sure your employees would appreciate that

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  EdenKai on 30/12/2023 - 20:05

  I work for a relatively succesful private medical company. The best gift i ever got was 500$ worth of prezzee gift cards. It wasnt particularly much compared to the profits the company made, but $500 dollars basically funded my whole family's christmas presents and then allowed me to splurge on myself for once.

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  drfuzzy on 30/12/2023 - 22:57

  +1

  You will need to pay Fringe Benefits Tax on these gifts which will basically double the cost for you.
  If you plan to evade the FBT you are basically just saving money by tax fraud.
  The best solution is to give them a cash bonus as that won't attract FBT.

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  aub on 30/12/2023 - 23:08

  Training course in Spain.

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  Fobsessive on 31/12/2023 - 01:20

  Additional days of paid leave is the only answer

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  Seraphin7 on 31/12/2023 - 08:51

  Cash.

  And when you think they want something other than cash … well, spoiler alert … it's still cash.

  I don't want days off, gifts, "fun days out", just cash.

  And if it's not clear, cash is always the preferred reward.

  Did somebody say cash?

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    serpserpserp on 31/12/2023 - 14:39

    +1

    Did somebody say cash?

    Pretty sure they said KFC.

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  centrelink on 31/12/2023 - 10:12

  Personally, just keep the money for yourself

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  jugsy on 03/01/2024 - 14:14

  Take what you were gonna buy for them AND GIVE IT TO THEM IN CASH. All these excuses are pathetic.

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  Joshaz on 25/01/2024 - 13:29

  We never measure the 'soft skills' until an organisation is burning to the ground. But I'd personally prefer a happier place to work, even more than an extra dollar an hour in the pay. The latter is good until it's invested in substitutes for poor mental and physical health.

  Each to their own on what happier is, but I am talking a culture where 'frank and fearless' actually happens, leaders set a culture of taking responsibility, people are encouraged to make mistakes as apart of learning and growing (excluding the very stupid mistakes like being reckless or breaking the law/ code of conduct).

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