When the economy gets rough, it’s difficult for employers to justify providing raises for the top performing employees. However, this doesn’t mean that those employees have to be ignored, there are different things that can be done to help show an employee their value, without giving them a raise. A lot of companies are afraid of denying raises to their employees. They feel as if those key employees will leave for greener pastures. However, if you can create a positive atmosphere for your employee’s, not only will they be able to look past the lack financial growth, they will become better employees along the way.

Communication
Communication is one of the key principles that employee’s look for when they think about the company they work for. By taking into consideration the opinion of your employees and providing feedback to them, you give them a voice. It is his voice and understanding that cause your employees to feel as if they are more than just another series of numbers to the company.

Provide Additional Time Off
Hardworking employees love to be rewarded for their work. If you’re not in a position to offer a raise, try to offer them additional vacation time or allowing sick days to roll over, rather than being erased at the end of the year. Showing them that they’ve earned a couple of extra days off for all of the hard work will show them that they are appreciated.

Make Balance A Top Priority
Some of the best companies around the world have found ways to create work environments that allow the employees and staff to feel as if they are a connected, yet important part of the company. By providing this positive work environment, employees will feel like they are able to add to their personal life, by having a professional career that they love being a part of.

Encourage Casual Free Thinking
Everyone does their best work when they are relaxed. You can help nurture the process by creating a casual environment in the community break rooms or rest areas. Add in a little bit of comfortable furniture, tables and a couple of snacks and you can turn these formerly under used areas into a gathering spot where people can connect and collaborate about their personal lives, and work.

Showcase Career Pathways
By providing career developmental training sessions, you can teach your employees, not only about new techniques to do their current job, but also future advancement opportunities. Those who are interested in these career advances can sit in on extra training or take additional classes in their free time to become qualified for that position. Showing your employees that they have advancement opportunities will show them that they can still make headway within the company, even without a raise.

Show That Hard Work Matters
If you have an employee who is on the verge of leaving because they haven’t gotten a raise, you are going to lose them regardless. Rather than dig yourself into a deeper hole, focus on hiring employees who can see the value in the work that they do. You can do this by rewarding your hardworking employees with more important clients or tasks. These tasks can be stepping stones to career advancements or to more profitable clients in the future for them.

Acknowledge Their Achievements
Acknowledging your employees for the things they do well, publicly, is a great way to bring a smile to their faces. Smiling is extremely contagious and will spread quickly throughout the workplace. The next time an employee does a great job, make sure everyone knows about it and they get the praise they deserve from the company, and their co-workers.

Set The Tone
You’re the face of your department or company. Don’t allow yourself to be seen in a bad mood or upset. You should always have a smile on your face and greet the day with a bit of cheer. If you are in a bad mood or upset, your employees will avoid you and carry a negative feeling with them throughout the rest of the day. These negative feelings can quickly hinder any positive changes that have been made and will make them feel as if they do not get paid enough to deal with those negative feelings.

Offer Better Benefits
The benefits that are provided by a company are always going to be a deciding factor. Most employees have no problem taking a lower paying job, if the benefits are better than the ones they can find elsewhere. You can add in dental and vision benefits, as well as additional disability or life insurance. You can also provide gym memberships or put in a small gym at work. Exercise not only helps keep your employee’s healthier, but the release of endorphins, caused by working out, promote improved attitude and general happiness. 

You can also bring in conference speakers to help guide them. Conference speakers are great in inspiring employees and helping them find ways to not only do their job better, but also make their lives better.

Bring Back The Golden Rule
Be considerate with your employee’s. Something as simple as saying thank you when they complete a task is enough to make someone feel great about themselves, even if the task is a regular part of their job. It makes people feel appreciated and valued. Rather than barking orders at them, speak to them kindly and choose your words before you speak to them.

Finding ways to create a better company for your employees can easily offset the need to provide regular raises for your employees. Most solutions will provide quality of work and quality of life benefits that can’t be ignored by your employees, or your competition. When you create a positive working environment for your employees, word gets out quickly. Not only will you gave employees who love to come to work every day, but you will have qualified candidates lined up to fill any position that becomes available, immediately.