Is Money Your Company’s Only Motivator?
Of course, the majority of us work for the money and we want to be paid what we are worth. So… what can you do if your company’s budget is stretched thin and you can’t dangle the monetary carrot to keep your talent motivated?
Would you be surprised that not everyone is motivated by money? In fact, for many people in the workforce today, it isn’t even in the top 3 most important issues for them. Many employees value great workplace environments more than money. That doesn’t require a large budget to be accomplished. Just a willingness of management to be innovative, flexible, and improve your company’s leadership.
Does your workplace environment suck the energy out of your staff?
If you aren’t working to keep your employees energized, you are losing out on full engagement and that equates to less productivity, increased turnover and general discontent. Behave with integrity, set a great example and communicate (talking AND listening) with your employees. Encourage problem solving by partnering with your staff instead of just pulling rank. And while you’re at it, do your best to create opportunities for your current employees to grow within your company whenever possible.
My leadership skills are already good, but money is still tight
If your leadership skills are already good or have improved, but you still don’t have money in your budget for substantial salary increases or any raises at all. How can you show your employees that you value them without money?
3 tips to get you started:
Employees appreciate specific and sincere praise
Be aware that some people will prefer private compliments while others like more public recognition. This will require you to get to know people a little better to understand what is most motivating to them. It also makes it necessary for you to know what your staff actually does so that you will know when they have excelled or gone beyond the required performance. It’s easy to fall into the trap of just rewarding people who do things that are highly visible and self-promoting. Don’t forget to notice your unsung heroes that keep your business humming along.
Having a few rewards up your sleeve goes a long way to keeping employees feeling appreciated
One of my favorite things I have done to reward employees is to give them a couple hours off on a December afternoon to do some Christmas shopping. For parents especially, this was a great help to get things done during such a busy time of year. It didn’t really cost our company anything as that is a slower time of year for us anyway. You can easily come up with low or no-cost ideas that fit your employees. A gift card for a nearby restaurant with an extra-long lunch period to enjoy it or how about a flex day once a week that you either allow them to come in a little later or even work at home? Give it some thought and you will be able to come up with a list that works for your company.
Many workers, especially millennials, want training and opportunity
They will not stay in your company long term if they don’t feel they are getting the feedback and development plan they need to move ahead. Don’t have a comprehensive training program and can’t afford to develop one? Take advantage of the many skills that are already in your company and encourage your experienced employees to share their knowledge through in-house training sessions.
Hire right the first time
Partnering with a CRA (Consumer Reporting Agency) with the services you need to fill in your HR gaps can be an economical solution. The right CRA partner can help you recruit, integrate your system, perform background screening, provide education and license verification, drug testing at convenient locations, and support throughout the process. Feel confident that you are bringing the best hire into your company by having done due diligence both legally and ethically for your employees and customers. A professional CRA partner pays for itself by avoiding costly hiring mistakes. For a free consultation or more information, contact Genesis Background Screening Services at 866 944-0041 ext 101. Online, email or visit www.genesisbackgroundscreening.com. You can sign up to be emailed whenever we post a new blog at https://genesisbackgroundscreening.com/subscribe-to-the-blog/
Genesis Background Screening is not a law firm and provides our blogs for informational purposes only. Blog is not a substitute for experienced legal advice. Research laws or regulations mentioned in our blogs and ask your legal counsel any questions you have to be sure your organization is within the law and compliant with regulations.
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