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15 min read

5 Employee Rewards Programs For Small Businesses

Published on
May 15, 2024
5 Employee Rewards Programs For Small Businesses hero

TL;DR

Employee recognition and employee engagement aren’t the same—recognition is what creates engagement. Companies that prioritize recognition see lower turnover, stronger business outcomes, and more engaged employees. The most effective small-business reward programs include peer-to-peer recognition, customizable rewards, spot bonuses, milestone tracking, and digital awards or badges. When recognition is frequent, meaningful, and easy to give, engagement follows naturally. Motivosity brings all of these programs together in one flexible platform designed to scale with any team.

Let’s get something straight here: engaging your employees is NOT the same as recognizing them.

Recognition is the process of acknowledging the dedication and accomplishments of employees. Engagement is the awesome secondary product that comes from recognition. Think of them like fraternal twins: they might have the same upbringing and share some of the same DNA, but they’re 100% unique in form, function, and use.

image with text - Promoting recognition at work: reduces turnover by 1/3, has 12x better business outcomes, increases engagement.

Promoting recognition in the workplace comes with a lot of benefits, significantly more than you might think.

  • Recognition reduces voluntary turnover by a third
  • Organizational recognition programs have 12x better business outcomes
  • 84% of HR experts believe recognition increases engagement

The modern workforce needs a combination of engagement and recognition from leadership teams, but recognition is the factor that gets the ball rolling. So what’s the best way to make it happen? Employee rewards programs!

From milestone trackers to spot recognitions, adopting these 5 employee reward programs for small businesses are perfect for promoting some recognition at any sized company. Just take a look for yourself!

1. Peer-to-peer recognition

image with text - And if you’re relying on management alone to provide recognition in the workplace, you might not be seeing the powerful effects of true employee engagement.

Top-down employee recognition? So last year. Quarterly awards and occasional ‘thank you’ emails aren’t going to cut it anymore—you know it. And if you’re relying on workplace leadership alone to provide recognition in the workplace, you might not be seeing the compelling effects of true employee engagement.

Enter peer-to-peer recognition, an employee rewards program for small businesses that lets everyone appreciate everybody. Allow folks to send accolades, money, and public appreciation that will truly recognize the hard work of your employees.

2. Customizable rewards

Not gonna lie, customizable gifts are one of our favorite ideas for small businesses. Not only do they let your team members see the full extent of your gratitude, but they are allowed to enjoy it in a totally flexible manner. The secret? Listening to your employees!

Utilize recognition programs that offer incentives people actually want, including gift cards to local businesses, branded swag items, or custom gifts your employees can’t resist. You can even implement a ThanksMatters Card that allows for flexible money benefits almost anywhere.

3. Spot recognitions

A pat on the back is great, but do you know what’s even better? Money! Employees love financial bonuses as a 'thank you' for their work. But why settle for quarterly or yearly bonuses when you can have spot recognitions, too?

Consider implementing a spot recognition recognition program in your workplace, making allowances for celebration all throughout the year. Your employees deserve to feel celebrated for their diligent efforts, and a one-time cash sum is the perfect way to do this.

Oh, and a quick note: your CFO will adore you for avoiding gift cards, which sometimes make it difficult to fill out year-end taxes. Employee recognition software for the win!

4. Milestone tracker

Celebration is a huge part of human culture. So when special days like workplace anniversaries and birthdays come calling, be sure to have a milestone recognition program in place!

Initiate a program that allows you to celebrate the days that are significant to your workforce, inviting public comments, company-wide recognition, and plenty of monetary rewards. Best of all, tracking employee milestones makes it easy to show some quality recognition to your top performers – along with the rest of your team!

Remember: you don’t have to give your team members thousands of dollars to make them feel recognized. You just need to put forth the effort; they’ll see it a mile away!

5. Awards and badges

'Paper' programs have been around since the dawn of employment. From Employee of the Month to Rep of the Quarter, we have hundreds of names for the same slip of paper and a boring $20 gift card. That’s why we’ve proposed a different way for management to award high-value employees: awards and badges.

Award recognition programs allow team members to display their shiny new badges in public places, harnessing the power of social networks with powerful connections. With so much to love, employees will go ga-ga in developing the organic relationships that matter. And seriously: who doesn’t like getting awards?

Create employee reward programs for small business with help from Motivosity

Noticing a trend here? Yeah, us too — because each of these employee recognition programs is offered by Motivosity! Employers can mix and match strategies that work best for them, all with a transparent pricing scale that fits any business size.

Ready to start reaping the benefits of employee happiness? Thought so. With all these ideas out in front of you, you’re probably feeling pretty pumped about this whole workplace recognition thing. Team up with Motivosity to build and promote a customized program just for your employees. With three customizable licenses and plenty of background support, your recognition program implementation is as good as done.

Shoot us a message to inquire about a demo, or give us a ring at (801) 758-7188 to chat more about what we do. Happy recognizing!

Article written by
Erika Rahman
Marketing Manager
Erika Rahman is a Marketing Manager at Motivosity. She studied marketing and business management at Utah Valley University. Erika has a broad background—from optometry to trade school administration—giving her a love and understanding for people across industries. She grew up in Northern California and Colorado, and currently calls the Utah slopes home.
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