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.

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