10 Ways To Motivate Employees Without Spending Money
- BY Ryan
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In the light of cost savings, budget cuts and possible redundancies, it may seem almost suicidal to splurge on your employees- and it is. However, you will be delighted to know that you don’t need to shave even a millimeter off your bottom line to compensate your employees for exemplary performance. Veritably, a survey carried
In the light of cost savings, budget cuts and possible redundancies, it may seem almost suicidal to splurge on your employees- and it is. However, you will be delighted to know that you don’t need to shave even a millimeter off your bottom line to compensate your employees for exemplary performance.
Veritably, a survey carried out by a staffing firm (The Accountemps) found that regular recognition of employee accomplishments was the most preferred form of non-monetary compensation, with frequent communication coming in at number 2. What’s more, Charles P. Garcia, in his book ‘Leadership Lessons Of The White House Fellows’, ties motivation strongly to good leadership. The book asserts that employees value having strong leader as much if not more than money.
Well, what do you know, your employees actually want to be recognized for more than just their pay grade, they want to be recognized for the contributions they make on a daily basis. A splendid revelation, don’t you think?
Here’s what’s not so splendid though;
– 75% of people who voluntarily resign don’t quit their jobs, they quite their bosses (Source: Roger Herman)
– Research conducted by the Times Magazine in 2010 revealed that 45% of American workers are unhappy
– According to a survey by Performance Solutions Group, only 42% of workers surveyed said that they though their leaders inspired and engaged them
The above not-so-splendid statistics are a clear reflection of the employee disengagement that is currently sweeping across the U.S workforce. Your company however, does not have to be a part of the statistics. Listed below are 10 effective ways to boost your employees’ morale without spending any money.
10 Ways to Motivate Your Employees Without Spending Money
- Offer one-on-one mentoring sessions to develop your employee’s skills and cultivate interest in the workings of the organization.
- Offer immediate praise for exemplary performance
- Reward deserving employees with leadership positions, even if it is for a temporary project
- Infuse positive energy in to your organization’s operations by having a positive outlook and encouraging the rest to follow your example
- Make a point of providing your employees with a comfortable and relaxing environment
- Flex your working hours
- Celebrate birthday parties, anniversaries, and special events with your employees, make sure the food and drinks are on the house
- Send personal handwritten notes to employees who deserve recognition for their good work
- Reserve the best parking spot for the employee of the month
- Create a wall of fame where employees who have accomplished something can have their photos along with their details placed.
As the economy begins to pick up, a lack of employee engagement due to poor motivation may spell trouble for your business. Don’t wait until your most productive employee walks out on you, take this opportunity to show your staff that you value and appreciate their efforts.
How do you boost your employees’ morale?