Immediately you all want to say ‘well obviously not’!
But if we asked how many of you use salary increases and bonuses as the mainstay of your employee reward strategy, we think the answer would be all of you – because it’s honestly what has been the tradition, it’s tried and tested and in these economically tight days we could all do with a bit more, right? But if you want to truly engage your employees and get all the associated returns that they offer, providing your business with the best chance whilst the economy around us falters for a while, then you need to add more depth to your reward strategy, depth that doesn’t just encompass increasing financial rewards.
Those organisations that will survive and thrive in the current economic climate are those who know that it takes more than money to keep their staff engaged, and that doesn’t mean they have to throw cash at the solutions either, so what do they do?
- They care with a passion about their employees, and that’s genuine care! (Don’t forget we all know a faker when we meet one so your employees won’t be any different!)
- They are interested in each and every employee as an individual, their goals and dreams, they support them, give them opportunities to try new things even if it’s not the ‘day job’
- Let them learn from their mistakes without criticism but with support and encouragement to have another go
- Encourage new ideas and provide opportunities for employees to contribute them, however off the wall, free from ridicule
- Challenge them stretch them, develop them
- Celebrate success, however small!
- Thank them and mean it.
When was the last time someone gave you their most genuine thanks, how did you feel, how much did it cost to say it? We bet nothing!
Article by Lyndon Wright
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