Top 10 Best Practices To Motivating Without Money
Motivating employees to perform to their maximum potential is the responsibility of an organisation’s leaders. In today’s economy, many companies no longer have the luxury of using money as a motivational tool. So how do organisations motivate their staff – without using money?
Publicado en CEO Online.com y recogido en la web de CEDE
- Learn and acknowledge your employees’ personal career objectives
Employees who know they are on track for a specific career path are more motivated to perform at a higher level. Employees need to know what opportunities there are for growth beyond their current role. Upward mobility and future promotions can be more motivating to some employees than money. Considering the current state of the global economy, a secure career path is more important than salary.
Most individuals with the greatest upward mobility are also motivated by leadership opportunities. Organisations need to avoid promoting the wrong people, but it is important for employees to know and understand that promotion opportunities are available. Without any upward movement, many employees will lose their sense of purpose and motivation.
- Retain high-quality employees through sound management practices
After investing considerable time and money recruiting and training employees, managers must now determine how to make sure those valuable employees are productive and remain loyal to the organisation. Employee retention is essential in order to maintain client relationships and keep recruiting and training costs in line.
Losing an experienced employee results in significant financial losses to the organisation. The keys to employee satisfaction and retention are founded on strong leadership and sound management practices. Managers who can master these arts will have happy and loyal employees and clients.
- Affirm job security through managerial support in every aspect of the employee’s job
When motivating employees, job security is essential. Job security can be a significantly stronger motivator than financial benefits. In most situations, individuals are more likely to be more negatively affected by the threat of job termination instead of a pay cut or missed promotion.
Job security also impacts the work ethic of employees. If employees feel they might be fired or laid off, they are more likely to put less effort into their work.
One of the best ways managers can encourage job security is by showing adequate support in every aspect of the employee’s job. Managers encourage job security by taking the time to encourage employees and acknowledging their work and performance.
