5 Ways to Incentivize Staff That Don’t Involve a Pay Rise
Everything and everyone ages. It can be a smooth journey but of course, the longer you carry out a certain role and the more comfortable you feel in your job, the harder it may be to feel motivated to deliver results with the same enthusiasm as a fresh recruit.
This is true of employees and employers. Once an employer loses their game in motivating staff, how can they expect home runs in return? Plenty of research shows that while money is an important factor, many people are driven just as much, if not more, by non-monetary incentives from their employers. Without further ado, here are five ways to incentivize your staff without busting your bank:
1. Show Recognition with Real Rewards
You don’t need to do hours of research on psychology to understand that people respond well to recognition and tangible gifts.
Just think about holidays where gift-giving is involved. People associate gifts with positivity and understand the gift giver is coming from a place of gratitude and generosity. This can be applied in the workplace with high-quality corporate gifts. Reward your staff with a thoughtful, physical gift to say thank you. No matter how small, this way, the employee is provided with a sincere token of appreciation.
Source: Stock Snap
2. Offer a Sense of Greater Purpose with Autonomy
Intrinsic motivation is driven by inner experiences such as satisfaction and growth. Fostering a work environment where your staff feel this way is a sustainable method of incentivizing good work and consistency. With greater autonomy, employees feel a degree of ownership over their performance and projects, which can lead to a greater sense of purpose at work in general. Start by:
- Avoiding micromanagement
- Including staff in decision-making processes
- Providing staff with opportunities to give feedback
You don’t need financial strain to adopt business habits that are supportive to your staff’s sense of autonomy.
3. Increase Flexibility
These days, flexibility in the workplace is becoming the norm across many different fields. Use this to your advantage when providing incentives. If your employee’s work does not depend on rigid contact hours or making appearances at specific times, why not grant them some flexibility? This could be giving them the OK to come in a little later, working remotely or providing flexible hours on the condition that project deadlines are still met.
It may not sound significant, but flexibility can be very advantageous to your workers’ wellbeing and morale. It could mean spending more time with their children or working at the times they know they’re most productive!
4. Provide A Personal Acknowledgment
No one does their best work for a stranger or without credit. In larger teams or companies, there’s a risk of employees feeling anonymous or insignificant in the bigger picture, which could lead to disillusionment at work. Take the initiative to personally thank staff members when they perform well in person, or at the very least write a thank you note or congratulatory email. This way, your employees will be aware that good work does not go unnoticed.
Like in all aspects of life, there are milestones to be celebrated in work. You can boost morale, celebrate your staff and business successes with an end of year staff party, or even something simple like a catered thank you lunch in the office or an awards wall.
The key to a successful, efficient business lies in the wellbeing of its staff. To ensure your employees stay motivated and fulfilled at work, take stock of the tips above – you’ll be reaping the benefits in no time!