Most people often assume that the only way you can reward your employees for the work and effort they put in is by offering them bonuses. It is true that employees love a higher check, but a check only motivates them for a couple of hours. But by discovering and implementing certain methods and giving tokens of appreciation for their efforts at right time, you can ensure that you have a highly motivated task force who are also committed and hard working.
One way to go about this is to reward your most hard working and dedicated employees with flexible working hours. You can offer a flexible Monday or Friday or you can even offer it over the span of the weekend. Doing this shows the employee that you have immense confidence in his or her abilities to manage the work load and get all the work done in a timely manner and has shown to be a great motivator. If some of your best employees are coming in from remote locations away from your work place, try to offer commuting arrangements such as accommodation to help them avoid long train or bus rides and parking hassles. Talking about parking, if the parking costs around your work place are really high and difficult to afford for some people, it could mean a lot if the company can grab a good parking spot for an year or at least a couple of months for the hard working staff members. You can keep a couple of parking spaces and rotate it between the hardest working employees. If you have a whole department who are continuing to work really great you can organize an event of sorts and do it in a way that it is a surprise to the entire department. This event can be something small like a dinner out sponsored by the firm or something more adventurous like reef charters or fishing charters. Events like this can also help you get to know all the employees on a personal level and build up a good relationship.
You can also give select employees a paid day off after something they have put in a lot of effort and time into. If some employees are members at any professional institute you can cover the cost of staying in these associations. There is also the added advantage that it will further educate your employee and the knowledge he or she gains from it will greatly help the company in the long term. Saying simple things like thank you goes a long way too.