1. #1
    Unregistered

    How to reward employee loyalty even with budget cuts?

    Our company gives loyalty awards to employees who have served the company for 10, 15, and 20 years by giving them a check and a dinner in their honor. However this year due to budget cuts we donít have that much money. What can we do to reward them well so that they donít feel shortchanged.

  2. #2
    abhivandy Array
    Join Date
    Jan 2013
    Posts
    82

    Re: How to reward employee loyalty even with budget cuts?

    Hi aspirant

    It is really good to hear that your company motivates its employees in such a manner and thus provides them with such incentives. Very few companies maintain such good relations with their employees and company deserves a round of applause for this. Now I am really sorry that your company is not in a good financial state right now and thus the budget cuts. But you should not worry as there are many other ways by which you can reward your employees for their serving your company from such a long time. And I am sure they will not feel cheated as even they can understand your situation .

    You can present all such employees with some kind of a present that they will remeber and cherish throughout their lives. Also along with it present them with a bouquet of flowers as a sign of sweet and cherished memories. The present can be some kind of silver household item or a decorative piece. Then when your company gets back to its normal financial position, then you can give them a cheque and a dinner in their honour. Do tell them that they will be definitely rewarded in a better way later and I am sure your employees will understand you.

    Good luck and Thanks

  3. #3
    manojbadoniya Array
    Join Date
    Jan 2013
    Posts
    802

    Re: How to reward employee loyalty even with budget cuts?

    Sir this is very good work being done by your company and that is why i expect that the employees are also feels good in your company and prefer your company and you must keep it continue forever because it has been like a tradition of your company and if you would leave it then the reputation of your company would be down in front of all previous employees and if you are having financial problem and not able to provide them loyalty reward then you should arrange the finance from somewhere and if your company is not going in loss and not in blacklisted then you should try to motivate your employees to work hard in the current market and you may go to the bank to arrange the enough money for reward and if you have saved or fixed deposits then you may get from there and if you are not able to provide from any source then you should conduct a meeting in your office premises and tell everyone that this year the company is unable to provide the loyalty reward due to lack of financial arrangement so that we are sorry to everyone but do not worry because if the company goes in profit in the next year then we would provide you the reward and you would get the double means - This year and next year's reward so keep working hardly and provide the best

    All the best

  4. #4
    Ashok Array
    Join Date
    Jul 2012
    Posts
    2,293

    Re: How to reward employee loyalty even with budget cuts?

    Quote Originally Posted by Unregistered View Post
    Our company gives loyalty awards to employees who have served the company for 10, 15, and 20 years by giving them a check and a dinner in their honor. However this year due to budget cuts we donít have that much money. What can we do to reward them well so that they donít feel shortchanged.
    Dear Aspirant,

    It is very difficult to do both.When you don't have enough fund,you can not give loyalty awards as previous.It means you want to give them a smaller treats which will definitely make them feel shortchanged.

    So It would be better to celebrate it with open heart & take a resolution for improvement in the situation.Have dinner together,give awards as per the provision of budgets & share sorrowness & happiness.

    There is nothing wrong to realise the situations & try to improve it shortly.

    Thanks & good luck.

    Ashok..

  5. #5
    abhijeet2015 Array
    Join Date
    Jan 2013
    Posts
    334

    Re: How to reward employee loyalty even with budget cuts?

    Hi.............,

    What can you do is --->
    postpone the party for few month.
    Make reserves for the same.
    Give party on matured date.
    This will not dissatisfy the employees.
    They must cope up with the situation of company.
    Boost the company profit by having a research .

    Thanks

  6. #6
    Devi.career Array
    Join Date
    Dec 2012
    Posts
    491

    Re: How to reward employee loyalty even with budget cuts?

    Hello Friend,
    Nothing to worry regarding the budget cut,you may not be able to give a party but you can honour them any way.
    Just in any official meeting where all higher management are there need to honour them by giving them certificates of appreciation and accolades.
    you can give cheques of small amount if possible.honour them in front of all that will motivate them.
    and if possible promise to reward more once the company revives that will keep there hope up and they will keep performing well.
    Thank You.

  7. #7
    aaki Array
    Join Date
    Feb 2013
    Posts
    126

    Re: How to reward employee loyalty even with budget cuts?

    Hello ,
    It is a respected custom as it oviously promotes the employees need to perform when the company returns the favour
    for the loyalty shown by its employees .
    however , if there are serious budget cuts you can give the celebration a hault for some time as no individual of above
    the sake of the organisation .All they have served such a long period with the organisation , they must have developed a sense of
    belonging with the organisation
    .

    Have a office gathering where you first show rgratitude towards the unconditional loyalty your senior employees have shown
    and that they are the pillars of the organisation .
    But due to the recent budget cuts , the celebration will be postponed .

    Ask you employee to work hard in honour of your senior employee and whenever the situation stabilises , you have a
    good celebration for the due people who deserve it .
    I am sure that your senior employee will understand that they will also have the understand being with the
    organisation for such a long time .
    Although , small momentos can be given for the time being which is always a kind gesture to say "Thank you " to your
    deserving employees and as a token for devotion for working with the organisation for such a long period .

    Thank you !

  8. #8
    saurav bharti Array
    Join Date
    Mar 2013
    Posts
    128

    Re: How to reward employee loyalty even with budget cuts?

    hello,
    i think you should try to give them non monetary benefits.
    try to arrange a thanks giving speech in front of all other employees. this will make them feel very good.
    try to put up small congratulations notes on notice boards so that other employees read it and re congratulate him for his works.
    other things taht could be done is try give him the shift which he requires. and during lunch hours some senior member should accompany them to give him honor.
    thank you.

  9. #9
    Pachu Array
    Join Date
    Mar 2013
    Posts
    65

    Re: How to reward employee loyalty even with budget cuts?

    Hello,As the loyalty of any person cannot be fulfilled by money or any gifts there is no need to worry from your limited budget..You can arrange a function where all the employees of the company are present..Later a person can read their background and years of their services in the company and about their loyalty..This is a lot to am employee..Later if possible you can giv then any rewards..Thank you..

+ Reply to Thread