The Age of Austerity is upon us and companies are looking for ways to save money.
But keeping staff motivated is as crucial as ever. Here are my top 10 ways to motivate employees without breaking the bank.
1) Flexible working
Flexible working hours can be a great way to keep employees engaged with the company. Being able to take care of children or the ability to work from home can make all the difference in allowing employees to have a good work-life balance. A happy employee is a productive one, and employees are likely to go that extra mile for a company that has shown itself to be flexible and understanding.
2) Company events
Company get-togethers encourage team bonding and are great motivators. This could be as small as a glass of wine in the office or as diverse as cultural outings or obstacle courses.
Non-cash incentives can be significantly more affordable and more effective in motivating staff than simple cash rewards
3) Affordable non-cash incentives
Non-cash incentives can be significantly more affordable and more effective in motivating staff than simple cash rewards. Incentive scheme providers report that organisations spending the equivalent of just 3% of their annual salary budget on non-cash incentives see a more noticeable improvement in staff motivation than those spending 20% of their annual salary budget on cash bonuses. Employees are motivated by money-off vouchers or coupons – they appreciate their flexibility and welcome the autonomy to choose how they are spent.
4) Keep it exciting
A useful tip which is often overlooked is to change the incentives on offer frequently to keep them fresh and exciting and to run short term 'one-off' offers to encourage bursts of effort at critical times.
5) Set manageable target
Employers should establish and manage targets. In order to sustain morale and increase productivity, targets must always be set at a level which is challenging, yet achievable. Despite best intentions and no matter how appealing the incentives on offer, if targets are unachievable the workforce will become disenchanted and de-motivated.
6) It's all about timing
The greatest productivity is gained when the desired behaviour is rewarded immediately and unexpectedly rather than waiting for traditional times such as Christmas, when bonuses are expected regardless of effort demonstrated.
7) Understand the differences between staff members
Employers should be aware that different employees will be motivated by different things. Whilst the older workforce might place childcare vouchers high on their wish lists, younger members of staff may well respond better to subsidised gym memberships, company nights out or retail vouchers. Understanding these differences is central to successfully motivating staff.
8) Childcare vouchers
By running a childcare voucher scheme, employers save on Employer National Insurance Contributions and enable employees to save on tax and National Insurance Contributions.
9) Listen to the staff
In order to motivate staff, employers need to be aware of the troubles and desires of their employees in order to respond to these. This can be done in company meetings when staff are allowed to voice their grievances, by using an anonymous survey or by simply having a feedback box.
10) Encourage a feel-good factor
Company-wide charity initiatives can be a very effective way of promoting unity and motivation staff. Supporting a charity with associated events, be it running a marathon or helping out one day a month can give staff a great sense of achievement and common purpose, adding a feel-good factor to the day to day routine of the office.
