A bonus remains the best way to reward employees after major projects, according to nearly half of chief financial executives surveyed by the staffing firm Accountemps.

Of the 1,400 CFOs surveyed, 46 percent cited bonuses as the most effective way to acknowledge a job well done. The second most popular response was giving employees time off, cited by 17 percent of respondents.

Another 16 percent said a lunch or social gathering was the most effective way to reward employees, and 15 percent said they offered no rewards after major projects.

"When budgets are tight, non-monetary perks such as time off or a departmental celebration can be valuable tools to acknowledge staff accomplishments on a major project," says Max Messmer, chairperson of the staffing firm. "But employees also expect financial compensation for their efforts, which can be an effective retention tool."

Messmer added that recognizing personnel can benefit employers in several ways.

"The objective is to create a working environment that provides meaningful, tangible incentives and rewards. Such a workplace attracts quality people and creates a setting that maximizes productivity, enhances job satisfaction, and protects the firm against the loss of good employees who may be difficult to replace," he said.