TrivWorks in “Entrepreneur” Magazine!
This past week, I was given the honor of being interviewed by Entrepreneur Magazine for an article on an incredibly important issue, one which I work daily to publicize and address: how to reward employees when raises aren’t an option?
Readers of this blog know what a passionate enthusiast I am on this topic, and how much digital ink I expend here on the very difficult challenge business owners, managers and HR directors have faced since the financial meltdown nearly 4 years ago: namely, how do we attract, motivate and retain top talent in such an unstable economic environment? Every day, I receive inquiries from people at companies seeking corporate team building activities in NYC and elsewhere who desperately want to boost office morale, yet simply don’t have the resources to compensate their hard-working staff the way they would like. What to do?
In addition to drawing attention to this very real problem in the modern workplace, the article goes on to list 5 helpful suggestions for how to reward employees when budgets are tight, and say “thank you” to your dedicated staff for a job well-done.
Check it out – I hope you find these ideas helpful!
You have some great insights about employees and leadership. The main point is to remember that your subordinates are people and that you are part of a business family. If you can’t reward them with money then work on the relationship that you have outside of the paycheck / hours worked formal agreement.
Perhaps you can give an employee an extra bit of your time, recognition, or gifts that may not cost much but provide a huge value. Think of your employees as children. Parents who spend time and listen to the important things in their childrens lives have a closer more dedicated connection than those that shower them with expensive gifts.
Remember that your attention, to the needs of your employees can generate a lot more loyalty than a tiny bump in their paycheck.