Money has always been a great workplace motivator.
But as a small-business owner, you can't afford to shower your staff with cash and bonuses.
Not to worry. There are plenty of low-cost ways to motivate your staff without breaking the bank, experts say.
"Small companies will rarely ever be able to provide the benefits and compensation that large companies can," says Chason Hecht, president of Retensa Employee Retention Experts in Manhattan.
"However, where they can excel is in providing meaningful and challenging work."
Employees are more productive if they are happy with their jobs and feel as if they are making a difference, Hecht says.
Still, not enough employers bother to ask their workers what they want out of their jobs and are surprised when they either leave or lose motivation.
At least two key questions to ask your employees are, "How are you doing?" and "How are we doing as a company?" Hecht says.
These questions should be asked at a new employee's 14-day mark, as well as at 90 days, six months and annually, all critical junctures in the employee-company relationship, he says.
Also ask if employees need anything to help them do their jobs better and if any obstacles prevent them from doing their jobs, adds Bob Losyk, president of Innovative Training Solutions, a consulting company in Greensboro, N.C.
These are all simple questions - but ones managers often don't think about asking, Losyk says.
They are so caught up in the day-to-day operations that it's easy to forget about actively keeping in touch with the people around them - and employee retention can have a huge impact on the bottom line.
"As a rule of thumb, to replace an employee, figure that it will cost you one third of the new employee's salary," Losyk says.
To be sure, it's a lot more cost-effective to keep a good employee motivated and happy, experts say.
It doesn't have to take a huge effort on your part, either.
A gesture as simple as offering praise can make a world of difference, experts say.
"Praise is the most underused tool in the management toolbox," notes Hecht of Retensa. "It's also the cheapest."
And it's the most effective, experts say.
"People crave verbal appreciation," notes Laurie Altschuler, a trainer with Dale Carnegie Training in Hauppauge.
Keep in mind, though, that it should be specific and pointed to the task at hand - like thanks for working Saturday or for showing patience, she notes.
Training is also a top motivator, Altschuler says. As an incentive, companies can either offer training on-site or reimburse employees for off-site training programs.
"It makes people feel like they are being invested in, and that breeds loyalty," she adds.
Need more ideas?
Well, being flexible and, where possible, allowing employees the option of working from home can be big incentives.
That's what Austin Travel in Melville has done to accommodate some of its staff's work/life needs. The company allows about 20 of its 100 full-time employees to work from home, according to Stewart Austin, senior vice president at Austin Travel.
"Last year, with the fuel prices, our people were coming to us and begging us to allow them to work from home," he added, noting that the practice has yielded more "upbeat" employees.
Other tactics used by local companies include taking employees on retreats or to off-site team-building exercises.
HJMT Communications in Westbury has been doing this for the past five years, president Hilary Topper says. She's taken her 12 employees rock climbing, on helicopter and boat rides, and even to the East End vineyards.
Sometimes, she'll add a touch of mystery to their adventure. "I won't tell them where we are going, and a limo will just come and take us there," she says.
The gesture seems to be appreciated.
"I look forward to them," says Lori Alexy, senior event planner for the public relations, marketing and advertising firm. "It really brings the company together."
And who couldn't use a little more togetherness in the workplace?
Go to source.
A Photographer's Life: 1990-2005
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