The economic downturn has put a great deal of pressure on employers to find creative ways to motivate employees. Gone are the days of quarterly bonuses, performance-based pay raises, and other financial incentives that once kept noses to the grindstone. Motivating without money is a challenging task, but it can be done with the right combination of leadership and management skills.
While money is one of the proven ways to motivate employees, there are also other ways to encourage your team to put their best foot forward. Here are three non-monetary motivation techniques that are geared toward personal recognition and satisfaction.
Paid Time Off
Your business expects to expend a certain number of dollars for payroll. One method of non-monetary motivation is to create an incentive program that allows employees to earn paid time off. For example, you could offer a paid day off to the sales associate who generates the most revenue in the month of July. A paid day off is a miniscule cost to your business, and it is one of the excellent ways to motivate a sluggish sales staff.
Space and Status Motivation
You can use the space in your workplace and the status of your employees as a form of non-monetary motivation. For example, in recognition of excellent customer service, you might consider designated a special parking spot (one that is close to the front door) to be awarded each month to an outstanding employee. If you have a recently vacated corner office, you can host a contest to see who can generate the most sales, who can go above and beyond the call of duty to solve a problem, or who exhibits perfect attendance. These are simple events to coordinate, and employees will enjoy the spirit of healthy competition. Having access to special spaces on the company property enhances their feeling of accomplishment. These types of rewards are fast and easy ways to start motivating without money.
Share the Company Perks
Does your company receive incentive rewards from customers and organizations in the community, such as tickets to concerts, free t-shirts, movie tickets or gift cards to local restaurants? Perks like these are among the greatest forms of non-monetary motivation. Your company receives these items at no cost, and you can turn them into rewards for employees by passing them onto your workforce. Perhaps you want to recognize a manager for excellence or a sales person for customer service. Sharing the company perks is a way you can start motivating without money, and your employees will truly appreciate the gesture.
The economic downturn has most likely had a negative impact on morale in your workforce. Motivating without money will become a necessity to keep your team engaged and active. It’s important to develop a creative approach and find ways to motivate without dipping into company funds. A little bit goes a long way when it comes to motivation and non-monetary motivation is vital to the core of your small business.
