This has been a very challenging year for small business owners and their employees. While it may not be feasible to offer large bonuses or significant time off given the current state of affairs, it is more important than ever to make your team feel appreciated. Labor Day offers a great opportunity to recognize their hard work and loyalty through this unprecedented time. Here are just a few ways you can reward your employees this Labor Day.

Outside Interests And Hobbies

“Give your employees gifts for the things they enjoy outside of work. For example, give the exercise enthusiast class passes, a new kitchen utensil for the chef or supplies for the home brewer. Doing so will show your vested interest in company talent and reward them for their achievements as workers.” It also shows them that you view them as individuals and pay attention to what makes them tick.

Work-Life Balance

“Since there is a strong correlation between employee satisfaction and employee retention, retaining your best employees is integral to the success of your business, both small and large. By focusing on developing a culture that values work-life balance, you can make your employees happier — keeping them more committed.” Do your best to ensure your team is getting enough time away from work and that their job is not consuming their personal time.

Free Meals

Everyone loves free food and if your team is working on Labor Day, it would be a great time offer lunch or dinner on the company. It’s a nice way to reward your team and provide what is essentially a cash bonus. “For many companies, free meals are a great way to reward your employees for their hard work. According to the IRS, employee-provided meals do not count against employee income if 1) they are furnished on your business premises and 2) they are furnished for your convenience. In addition to tax benefits, there is a positive ROI to employee meals.”

Alternative Day Off

“In industries such as hospitality, security and healthcare, the holiday weekend is one of the busiest times of the year and awarding all employees a paid day off just isn’t a possibility. While Labor Day itself won’t be on the holiday calendar in these organizations, offering an alternative day off can be just as significant.” If your team has been working their way through a pandemic and you’re open on Labor Day, offering an alternative day off of their choice can be a great incentive.

Monetary Bonuses

“If it’s possible within your budget, you can give bonuses to acknowledge top employees. The bonus can be something simple like an extra paid vacation day, a restaurant gift card, or another monetary gift. A bonus also serves as a great motivator, especially if employees know they’re presented at holidays and other special days – they’ll work harder in order to get one.”

Learn how to diversify your small business by adding new revenue streams