Are you considering methods to motivate your employees? If so, you should look past monetary incentives. Reason being? Employees are not just motivated by cash. Instead, they are more motivated by internal processes such as flexible working hours, the payoff of hard work, growth in the business and signs of appreciation.
The greatest part is that internal motivators don’t interfere as severely with the bank account. To motivate your team, here are six non-monetary ways.
- A Chance To Upskill
Reskilling or Upskilling requires less investment than training and hiring a new employee. By retraining your employees, you create a more extensive, skilled personnel which in turn increases the effectiveness of your team.
Employees with development and training opportunities are better off in their roles and see their future in the company being brighter. By upskilling your employees, they can determine the path to professional development and inspire them to take the next steps. You can do internal upskilling, or invest in a course like those from Upskilled. Knowing that you are working on something that improves your life creates a deeper sense of meaning and motivation for work.
- Progression Meetings
Employees regularly feel that if they no longer achieve their career goals, they will not make progress at work. When analyzing happiness at the workplace, it is evident that employees are more loyal when their goals are achieved along with the business objectives. Since career goals and professional development are not fixed ideals, managers should strive to meet with employees regularly to discuss their professional goals and how to achieve them.
By helping your employees identify their career paths and actively pursuing them every quarter, they can see concrete evidence of professional growth. If they feel they are making good progress at work, they are more proud of their position, non-stagnant in their tasks and more loyal in the long term.
- Hawthorne Effect
The main purpose of the Hawthorne Effect is to manage employees so that they feel they are an integral portion of your company. By making it easier for employees to make operational and workplace decisions, employees feel like part of a close-knit team. A team that strives towards the common goal of a more profitable company.
The first step you can take to achieve the Hawthorne effect in your company is to put yourself in your employees’ position and look at your company from their perspective. Now try to find out what you can do to improve teamwork and increase your partaking in the overall success of the company. For instance, you can hold regular focus group meetings with employees to receive information about changes in work processes that can improve working conditions.
- Corporate Social Responsibility
CSR is designed to encourage companies to improve the life and position of as many individuals as possible. That may happen in different areas of society, such as to help with poverty and hunger, homelessness, or to minimize the company’s environmental impact. This is about going above and beyond the law, and feeling good about it.
Satisfied employees are a blessing for every company. Therefore, it makes sense to make working life as pleasant and inspiring as possible. This may include volunteering together, holding a fundraising event and trying to be more eco-friendly in the office. Employees who are satisfied with their working life strive for success, which ultimately increases the productivity of the company.
It also assists to reduce the expensive turnover process and create efficiencies in the company, such as less non-renewable energy being used. It is therefore worth creating an environment in which you want to stay in the long term.
- Provide Food
This non-monetary motivation is simple. This can happen in many forms, but the main requirement is at all times a crowd picker. Having lunch in a restaurant, team dinner, or even providing a top worker’s favourite snack for a limited time in the break room can improve your team’s morale. One way to ensure that there is always nutritious food available is to invest in SnackNation office fruit delivery services. Who doesn’t love free food? It can also provide opportunities for team loyalty and a greater sense of community in the break room, so this incentive can pay off over time.
- Team Building
Forming a team should encourage employees to go beyond normal activities and communicate with colleagues. If everything is done correctly, working to form a team for work can raise employee engagement.
The secret to team building is to find great team activities to increase the communication and teamwork skills of your department. The more fun and personal the activity, the more engaged will the employees be, and the skills achieved in the activities will be transferred into workplace tasks.
Finally, with non-monetary employee benefits, there is much more room for creativity, flexibility, and performance compared to cash benefits. How do you reward your employees with non-monetary ways?