Leadership Tip

How to motivate without resorting to money

Many managers worry about how to retain top talent without breaking the bank. The good news is that even with the most sought after top talent, research shows non-monetary rewards can be more appealing than high salaries. Here are three things you can provide that often rank equal to or higher than compensation:

  1. Be flexible. Offer employees flexible arrangements, such as remote work options, staggered hours, or condensed workweeks.
     
  2. Focus on recognition. The best people want to feel appreciated for their hard work. Whether in a private email or a public venue, acknowledge your peoples' good work.
     
  3. Develop a culture that values results, not just face time. Set the example: Take time out during the day to go to the gym or see your child perform in a play, and encourage employees to do the same.

The above leadership tip...
was sent in response to a question from a participant on our 10/10 leadership development and mentoring programme and adapted from the Guide to Persuasive Presentations. Whether you're a first time manager or an experienced leader, straightforward, practical advice on best practice is hard to find. Until now. To find out how you, your team or your organisation can benefit, please join us on our next complimentary webinar or contact us.

Subscribe

Free weekly email on things you didn't know last week with links to articles on leadership excellence. To view previous editions click here.


Learn how to lead effectively

Gleaned from wisdom acquired by working with hundreds of highly successful leaders from the world of business, media and sport, our workshops are fortified with practical tips to help you better lead yourself, your team and your business.

Read More

Leadership Articles

10 actions for mastering leadership

The key to truly effective leadership lies in mastering a wide range of skills from implementing and administering process to inspiring others to achieve excellence. To be an effective leader you need to make the most of opportunities to learn to lead,... read more

Leadership Tips

How to stop sabotaging yourself

When faced with a big challenge, it's tempting to anticipate the obstacles that might get in the way, and use them as an excuse not to move forward. But this type of self-handicapping will prevent you from reaching your potential. Here's how to stop it... read more

How to use 's and s' correctly

Overworked leaders and managers with little time might think that improving their writing is a tedious or even frivolous exercise. But inappropriate use of the apostrophe lets most people down. This punctuation mark is used to show possession or to... read more

How to keep your New Year’s resolutions

January is an interesting time for behavioural science. Few things illustrate self-control as vividly as New Year’s resolutions. February is even better: we can study why so many of those resolutions are broken. But as well as identifying our weaknesses... read more