Alarmingly, it's already December! Everyone is looking forward to the holiday cheer, festive lights, and yes, the much-anticipated annual raise. In an ideal world, we would all get a bump in our paychecks to battle the inflation beast. But let's face it, sometimes financial goals are not met and the budget just doesn't stretch that far. So, what's Plan B when Plan A (a.k.a. the raise or cash bonus) is off the table?
Whoever said money can't buy happiness never had to juggle a million tasks in a day. If you can't up the dollars, up the flexibility. Almost half the workforce would turn down a 20% raise for more control over how they work. Let them work from home one day a week, pick a personal holiday, or maybe beef up the PTO. It's like saying, "Hey, we see you. We know you’re busy."
With everyone's wallet feeling a bit lighter thanks to inflation, beefing up your benefits package is like a stealth raise. Throw in a gym membership or better yet, mental health support. It's the 21st century, after all. Let's get those endorphins and serotonin levels up, shall we?
Nothing screams "We value you" like a good old-fashioned shout-out. And no, an all-staff email won't cut it. Get personal. Write them a note, endorse their skills on LinkedIn, and make them feel like the rockstars they are. It's the little things that count.
Your employer brand is not just for show. Make it mean something!
Ever seen National Lampoon’s Christmas Vacation? It’s a fantastic example of what not to do. Don't be the boss who underestimates the value of meaningful compensation. While thoughtful gifts have their place, don’t be Mr. Shirley. A lighter financial burden and an amazing place to work are the best gifts you can give!
In the end, it matters what you do for your employees, even if it cannot be a large raise or bonus. Offering flexibility, different benefits, training, and highlighting their accomplishments are great ways to bring in the New Year!