Greater Success on Non-Cash Awards

Greater Success on Non-Cash Awards

  • Submitted By: jennand
  • Date Submitted: 12/07/2008 5:02 PM
  • Category: Business
  • Words: 1135
  • Page: 5
  • Views: 857

It has been proven that companies have greater success when they use non-cash awards to motivate employees. Research has shown that, over time, employees have come to regard money more as a form of compensation that they are entitled to receive, rather than as a reward for specific behavior. Instead of attempting to motivate employees with cash bonuses, companies should strive to motivate employees with recognition, social events, and other activities that promote employee bonding and teamwork.

One of the most important ways to motivate employees is to realize that they have a life outside of the office. In a recent poll from Roper, it was found 9 out of 10 employees will work harder for you if you show an interest in their growth outside of work. This statistic opens up a wealth of ways to motivate employees.

• Never underestimate the power of meaningful conversation. Asking an employee, “How did your son do at his soccer competition?” shows you care about more than the employee’s ability to crunch numbers.

• Discover your employee’s interests. If an employee loves gardening, give them a small plant in appreciation for their hard work. People appreciate knowing you gave them a gift geared towards their interest or hobby.

• Some companies offer seminars on non-work related topics. Contact free local speakers to give presentations on selecting a summer camp or how to apply for college scholarships.

• Acknowledge birthdays. A unique way to honor birthdays is by drawing a large card on a giant piece of paper in the staff lounge with, “Happy Birthday Michael!” at the top. Throughout the day, other employees sign their names, write birthday greetings or draw pictures on the giant card. The completed “card” is one you’ll never find at the store, but you will make the birthday person feel special.

• These types of activities help employees feel management cares about them as individuals, not simply employees.

Giving employees recognition is a...

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