Successful Ways To Use Your Company's Trade Dollars To Develop and
Reward Your Valued Employees
mentioned last week, personnel costs are at the top of a company's
monthly expenses, and rightly so, because the key to building a solid
organization is having reliable, talented, and intelligent people.
today's highly-competitive world, where the unemployment rate hovers
at all-time lows, the question is: How can your company keep a hold
on personnel costs for good talented people, and at the same time
reward and recognize them for their extra efforts and accomplishments?
proven way is to incorporate the potency of barter, wherein you use
your trade dollars at every opportunity to compensate and acknowledge
your valued personnel. This week we look at six additional ways to
use your company's trade dollars to reward your valued employees.
frequently strain to provide good medical benefits for employees and
sometimes end up with "bare-bones" protection. Using barter can significantly
improve the affordability of added medical benefits in several ways.
orthodontists, chiropractors, podiatrists, eye care, massage therapy,
out-patient surgery, pharmaceuticals, general physicals, weight loss
programs, stop-smoking programs, and other medical services can be
acquired on barter.
companies have allowed a set number of trade dollars, perhaps 500
or 1,000 per employee yearly, to spend on bartered medical services.
Compared to the cost of an insurance policy which includes dental
and eye care, using your trade dollars for these services should be
a most attractive alternative.
social events build team spirit and boost morale, but can be expensive.
Trade for them. It is very common to barter for a restaurant or caterer
for the Christmas party; to take an employee group to a ball game;
to buy trophies, awards, T-shirts and game prizes for the picnic;
or to take a group to a play or concert.
training programs are something that you probably wish you could afford
but don't quite have the budget for. Not surprisingly, barter can
help. Several qualified training programs in motivation, sales, customer
services, goal setting, time management, or telephone skills are offered
accounting service has reported almost 100% increase in customers
since using a barter purchased training program. Also, check into
providing classes in computer training, secretarial skills, or word
competing to attract talented staff members you must be able to offer
an attractive benefits budget by providing quality "perks," such as
health club memberships, self-defense training, or work-out and sports
equipment. Utilizing your trade dollars will reduce these costs.
to Employees For Buying Trade Dollars
employees represent a tremendous amount of consumer buying power,
and by offering to sell trade dollars to them for cash at a discount
you both benefit. The actual price you charge employees must be determined
by your cost (leverage factor) in earning trade dollars.
Selling trade dollars to employees will both provide them with a valuable
discount, and give you sufficient profit on your trade business as
well. Undoubtedly, your employees spend cash every day on items which
can be purchased through your trade exchange.
management teams rely heavily on incentives to help motivate employees.
As with bonuses, barter incentives for reaching sales goals, perfect
punctuality, productivity enhancing ideas or any other admirable performance
can be awarded to deserving employees through a trade account opened
especially for them.
incentives available on trade include charter fishing trips, week-end
getaways, and other entertainment options that your trade exchange
summary, these nine proven ways to use your company's trade dollars,
as discussed here the past two weeks, will catapult you ahead of the
competition when it comes to rewarding your valued and valuable employees.