Sometimes Money Isn’t The Best Employee Motivation

Author

Lisa Quast

December 14, 2016

 

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It’s that time of year again, when many managers work through the ritual of company-required employee performance appraisals and then will meet individually with each employee in January to discuss their 2016 accomplishments.

But if your budget hasn’t been increased for 2017, what can you do to motivate those on your team (and stay motivated yourself)? Try these six tips.

Shutterstock

Shutterstock

Help employees develop their careers. Work with each employee to create his or her personal development plan. Support your team with ongoing coaching and mentoring to help each person increase their skills and broaden or deepen their work experience. Provide support for each employee as they learn, grow and develop in their career. Don’t know how to coach others? Sign up for a class or read a few books.

Empower your team. In general, people want to succeed and they want to continue learning and growing, so provide them with opportunities to do so. Delegate challenging and meaningful work, then give them the latitude to make decisions and implement improvements.

 Define the strategy and a compelling purpose. Clearly define your group’s vision, mission and strategy, as well as the goals and objectives of each employee – and include your employees in the development of these. Make sure everyone on your team understands the role he or she plays in contributing to the success of the group and the organization.

Be a role model. Act as a role model by helping employees identify what they are passionate about at work, and then provide them with projects or assignments in their areas of passion or interest.

Reinforce with rewards and recognition. If you can, use pay raises, bonus payouts, stock options or other incentives – such as paying for training – to reward and encourage high-performers on your team. Find creative ways to recognize great work, but don’t forget the simple things, like heart-felt compliments for a job well done.

No budget for perks? Enlist help from your entire team to generate ideas for rewards that are meaningful, but don’t cost a lot of money. This might include recognition in front of peers or company-wide, admission into an internal training program or even being named the leader of a high-profile project.

While it may be easier to motivate people when cost isn’t an issue, I sometimes think not having a big budget for perks can be a blessing in disguise.

That’s because it encourages managers to take the time to understand what’s important to each employee and how each employee prefers to be rewarded and then allows the manager to customize the incentives and rewards. Just like the old saying, sometimes the best things in life are free (or don’t cost a lot).

Lisa Quast is the author of Secrets of a Hiring Manager Turned Career Coach: A Foolproof Guide to Getting the Job You Want. Every Time.

 

This article was written by Lisa Quast from Forbes and was legally licensed through the NewsCred publisher network.

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