Bonuses are nice, but it's not the only way to reward employees for their excellent work. Here's how to really "wow" those who have done so much for your startup.
A. Find Out What Motivates Them
It is very important to find out what motivates your employees. They may appreciate an extra vacation day, public recognition, a gift (or gift card) or promotion. - Courtney Spritzer, SOCIALFLY
A. Give Public Recognition
Publicly recognizing an employee for his or her work in front of the entire company is a great way to reward employees. - Lisa Curtis, Kuli Kuli
A. Recognize Them Away From Work
Take your employees out for a cheap lunch or bring a 12-pack in right before close. Reward the employee and give recognition when the team is disengaged and relaxed. It's better received and more appreciated. - Jon Bradford, Colab
A. Show Appreciation
Not all employees want to be treated the same way. The same holds true for recognition and appreciation. The best way to relate with your employees and recognize them for their work is to know how they would like to be appreciated. At the very least, give a simple "thank you" and "great job," which always go a long way. - Zac Johnson, Blogging.org
A. Nominate Them for an Award
There are so many ways to ensure that your employees receive public accolades for the work they do, from "40 Under 40" lists to industry-specific awards. Writing a nomination might take some time, but if you have an employee who's gone above and beyond for you, consider returning the favor. Even for shy folks, listing an impressive award can be a resume booster for the rest of their career. - Melissa Roberts, Free State Strategy Group LLC
A. Overpay Outstanding Employees
The best way I have found is to treat them as fairly as possible and overpay at times. Yes, overpay for fewer hours. We have paid above market value for the employees and contractors we have and give them flexibility on hours to get things done. To reward great work, we do our best to give small bonuses when we can for project work and going the extra mile. Gift cards, lunch and small gifts work well. - Marty McDonald, Bad Rhino Inc
A. Pay Them!
The implication that you're a bootstrapped startup is that you don't have money; that's not true -- it just means money is more important. Pay your employees a bonus for their great work! They will recognize that you are taking money out of your pocket to give to them, and they'll buy in more to what you are doing because they see how much you appreciate them and the great work they do. - Jason Unger, Junger Media
These answers are provided by members of FounderSociety, an invitation-only organization comprised of ambitious startup founders and business owners.