Alex Lopez on January 7, 2015
5 Ideas for Employee Bonuses
With the New Year beginning, it’s a time when many employers choose to hand out employee bonuses. Besides being a kind gesture and a pat on the back for a job well done, studies have shown that even small bonuses can have a big impact on employee performance.
According to rewards-based incentives company, Parago, “more than 60 percent of employees would be happy with just a $25 gift card as a year-end bonus, and more than 80 percent of those surveyed said a bonus would make them feel appreciated, motivated to work harder or be more loyal to the company.” If you’re not sure what to give your workers, here are five ideas for employee bonuses.
1) New Computer or Tablet
If you’re working with a sizable budget, giving your employees some tech upgrades with one of these devices may be a good idea. This is especially true if they require a computer or tablet to perform job duties, and it can improve their performance in the New Year. While this may not be realistic if you’ve got a large staff, it can be just the ticket if there are only a handful of employees. If you look around, you can probably find some good deals and may be able to get discounts when buying multiple products.
2) A Fun Weekend Getaway
A great way to relieve employee stress is to treat them to a getaway in a nearby locale. For example, you might pay for two nights in a nice hotel and cover some other expenses like dining, area attractions, etc. Again, this may not be viable if you’re on a small budget, but if you can swing it, you’re likely to experience some serious loyalty.
3) Local Event Tickets
Another possibility is to offer free tickets to an event that an employee has an interest in. This could be a sporting event, concert, a play, movie or anything else they would enjoy. If you use the right strategy, you can often find great deals on tickets. Check out this article from Lifehacker for tips on getting cheap tickets to a variety of events.
4) Free Gas Card
The cost of gas can really add up, especially when employees have to make the commute to work every day. For that reason, offering to pay for your employees’ gas for a while can be a big hit. All you have to do is stop by a local convenience store and pick up a free gas card. These typically come in $25, $50 and $100 increments so you can find something that fits your budget. You can also purchase these cards online through a site like SVM if you want to save time or buy in bulk.
5) Restaurant Gift Certificate
Almost everyone enjoys a good meal, so an additional idea is to treat an employee to a top restaurant in your area. This works similarly to purchasing a gas card, and you can choose the increment you want to give. One of the easiest ways to get a restaurant gift certificate is to go to Restaurant.com and check out their “Give a Gift” feature. This provides access to over 18,000 restaurants across the United States, so you’re almost guaranteed to find something to suit everyone’s taste.