Motivating Employees Without Breaking the Budget

Date: Friday, 14th February, 2020

It’s no recent revelation that motivated employees are more productive employees. Organisations who have a passionate and engaged team will likely out perform their competitors when it comes to the quality of what they do, because for most businesses it’s fair to say that their people are what make their business a success.

But motivating employees can often be a challenge, particularly as we begin to see financial incentives fall down the list of desirable benefits that the modern worker wants from their job.

It’s not just employees looking for more than a good salary that is causing businesses to consider broader ways of motivating their staff. Many organisations are simply unable to provide highly competitive salaries due to strict financial budgets or the fundamentals of what their businesses do, for example public sector and not for profit organisations rarely see salaries rise above the rate of inflation.

So how can businesses motivate their most valuable assets, people – and in turn encourage them to keep contributing to their success – without giving them more money?

So this Valentine’s Day, here are some ways you can show your employees some love and increase their motivation but without blowing the company budget!

  • Empower leaders: There are likely to be certain people in your business who consistently go above and beyond their job description to achieve great things. They will be passionate about what they do and the company they work for, so reward them by praising their efforts and thereby empowering them to be a leader for others to follow. An engaging leader will be a motivator for themselves and their team.
  • Be accepting of ideas: Many managers fail to recognise that always telling their team what to do can be very de-motivating. Instead of taking this directing approach, allow your employees to generate their own ideas by giving them a platform to share their suggestions and encourage their creativity. This could be a company ‘ideas bank’ where suggestions to improve the business are heard from everyone in the team.
  • Provide a great culture: Culture isn’t something you can create overnight, it must evolve to be a genuine representation of what it’s like to be a part of your business. Your company values, ethics, goals and working environment are all contributors that come together form the culture. If you encourage your managers to listen to their team and prioritise employee wellbeing from the top down, then a positive company culture will form and motivate your team as a result.
  • Celebrate success: When your company does well, celebrate this with the team and thank everyone for their hard work. These are the times to demonstrate your appreciation for them and their contributions towards the overall achievements of the business. Being honest and transparent is crucial, so when things don’t go so well, or could be improved, then share this feedback with the team as well. Don’t leave them in the dark, unsure of where the business is heading and open to having their heads turned by a competitor.
  • Invest in soft benefits: Office perks and initiatives such as fresh fruit, early finishes on Fridays, team lunches, treatment days, peer-to-peer mentoring or lunch and learn sessions are all examples of low cost ‘softer’ benefits that can motivate a team without breaking the bank. Conducting an employee survey to explore your teams’ ideas surrounding motivational incentives can reveal trends that can then inform your company’s approach towards rewards and benefits, so you can feel assured you’re providing what they’re looking for.

Building reward packages that link with your company mission and goals can help your team feel valued and give them a sense of how their work contributes to the bigger picture. If you are looking to establish a values and culture proposition that isn’t just an off the shelf solution, then we can help!

Get in touch on hello@hrrevolution.co.uk or call 0203 538 5311.

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