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Real Reward

There must be a reward involved, and real recognition (previous page) isn’t it. Rewards are typically money, but money doesn’t always mean raise. Implementing a revenue sharing plan is the ultimate reward but not always an option. What do you do when you can’t fit that into your business model?

Pay your employees with other value. Since you’ve gone through and gotten to know your employees at little better when going through the first two parts of this article, you should have a myriad of value-adds you can bring to the table. Perhaps an added incentive of additional paid vacation time for employees will work. Giving employees a seven hour work day for the last week of the month might be a juicy reward! Or maybe the last Friday of the month is a paid day off for everyone.

A Real reward is something that your employees can connect to. It isn’t a free toaster or a superficial appreciation of their work. Real reward is something that comes naturally when you put your employees first and get to know what really matters to them. Remember there are two parts to the saying “Time is Money”. Reward employees with time when you can’t reward them with money.

Keeping your employees motivated during an economic downturn doesn’t take a massive effort. It doesn’t require extravagant parties. It doesn’t require eloquent speeches in company meetings. All that is required is being genuine about putting your employees first. They work for a living and don’t work to live. Treat them with a genuine regard for their interests and they will reward your business and not jump ship the second the economy begins to improve.

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