Small Business: 5 Low-Cost Ways to Reward Employees During the Holidays

The holidays are a great time to show appreciation for your employees with a gift or expression of gratitude. Depending on your budget, your small business may not be able to provide each employee with a cash bonus, but there are other things your business can do to spread holiday cheer.

Here are five low-cost ways to reward your employees during this festive time of the year:

Time Off and Flexibility With Hours

Everyone loves time off to recharge, run errands and make plans with friends and family. While giving employees a whole day that you pay for in exchange for no work may not fit into your business’s budget, consider allowing employees to come to work late or letting them leave early around the holidays. Giving employees time to run errands during their work hours or an extended lunch hour is also a great way to show your appreciation.

Free Food

Whether it’s bagels and donuts for breakfast or pizza and sandwiches for lunch, everyone loves free food and it’s a great way to make people feel valued. Taking employees out for a meal or happy hour, or giving them a gift certificate for a local restaurant also generates that same excitement.

Gift Cards

If you’re a business owner on a budget, gift cards are an inexpensive way to show your appreciation. You can choose the denomination that you’d like to give, whether it’s for coffee or apps on a phone, for example. Also, consider free movie tickets or other low-cost items your employees will enjoy as a gesture of your appreciation.

Subscription Boxes

You can give the gift that keeps on giving and reward employees throughout the year with a subscription box. These are low-cost options that can be tailored to a particular employee’s preferences. There are monthly subscription boxes available that feature food, drinks, beauty products, clothing, shaving products, and more – giving you the opportunity to pick something each of your employees will enjoy.

Throw a Holiday Party

Hosting a party for employees is a great way for people to socialize and build camaraderie. Consider giveaways at the event along with a drawing for a major prize. While everyone won’t receive a prize, you’ll be able to give gifts without worrying about spending a specific amount on everyone. Be sure to have great food and drink, along with entertainment, like a photo booth that will help capture the memories.

Lakeland Bank offers a full range of business banking services including online services, business checking, savings and money market accounts, certificates of deposit, business loans, and cash management solutions. Our Customer Service Team can be reached at 866-224-1379.

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