How to reward staff on a shoestring

As Q4 comes to a close and we get ready to breathe a sigh of relief and say good bye and p*ss off to 2020, we may be struggling to think of ways to say thank you, to reward our staff after this almost fatal year for many businesses.

Specifically, us SMEs though – how as an SME can we reward our employees this year-end? For those left standing, an annual bonus this year may be impossible. Many are running on fumes and skeleton staff and it has been a nail-biting few months in particular with a tough Q1 for 2021 around the corner as we all try our best to meet the New Year with all we have in our arsenal.

But 2020 and COVID brought many intangible positives to the workplace, within the HR and recruitment sphere we get to hear a lot of stories and we watched not just our own team reacted to the pandemic and ensuing chaos but our clients and candidates. In many companies new bonds were forged between company and staff, new trust earned as employees were able to demonstrate fortitude and loyalty, management were given the chance to lead with resilience and compassion.

We were blessed to experience sincere, genuine tenacity and respect from our team as we went into lockdown and could no longer work together physically nor did any of us know how long the limbo would last or what would come of it.

While I am not a fan of remote working (apparently a hugely unpopular thing to say these days) it did work a treat in terms of making us realise we actually like seeing each other and value being in each other’s presence.

So as we lived and worked online through the surreality of a pandemic, we were wondering if there would be a business at the end of the year and our team must have been wondering the same. I also speculated, as we realised we were going to survive after all, in-tact and as a team, how do you thank someone for that? What bonus or end of year reward marks this game-changer that was 2020? If you are wondering the same or are struggling to decide, here are my top 3 ideas so far:

·        In the absence of monetary bonuses, focus on the other aspects of the employee’s career such as recognition of new skills they have shown or done this year and how they can develop these within their role. Perhaps new titles and structures to reflect someone’s progress and resilience this year.

·        Look at new bonus times in Q1 or 2 in next year, delayed bonuses if you like

·        Think of other ways to show appreciation that perhaps are more affordable but still improve their work/career like training or study they are interested in or things to improve their actual workplace or environment whether at home or in the office like headsets or ergonomic chairs etc.

If you do any of these don’t forget the thank you that goes with any bonus or recognition at the end of any old year, let alone 2020.

Without our teams we are indeed nowhere but as I told one of our team members lately, although strictly speaking we are all replaceable, at the same time we are not.

Because in as much as I can hire another recruiter called Sarah or Bob, Stavros or Maria who may fit the bill perfectly, there will only ever be 1 Despina, 1 Antrea and 1 Christos for me. Those guys that stuck with us in COVID, through the pandemic, when we couldn’t get to our offices, when our portfolio got cancelled overnight and were still online working and trying, hustling and networking on Sundays and evenings.

Rock on 2021, with gratitude.