What are the rewards and benefits that glue each unique individual to the business? Because everyone is different!
It might be:
- Health and fitness initiatives
- Cash bonuses and profit shares
- Professional and personal development
- Family friendly practices
- Gifts and non-cash bonuses
- Supported flexibility policies
- Inspirational leadership
- Responsibility and challenge
- Business brand status
- Environment and proximity to home
- Career progression opportunities
- Training and development programs
Possible actions:
- Ask your people what would really motivate them as far as rewards and benefits
- Have managers interview their people every six months to review personal needs
- Make employee engagement a measurable performance indicator for managers
- One of the most powerful rewards is autonomy and choice, both in work and reward options
- If providing incentives, blend a mix of short-term and long-term rewards
- If you can't pay enough money, give something else
- Never forget the power of praise, recognition and appreciation
- Encourage staff to do their own personal cashflow to take more financial control
- Keep talking and understanding your people, the quest is endless
Leaders become too busy and do not invest the time to constantly coach, get to know, review, appreciate and assist their employees, both in work and life. What sort of message does this send to your people?
Invest and make time for your people.
Do you really know what motivates your people? Do employees feel respected enough if you do not make enough time to get to know them? Managers at Best Employers are more generous with their time.