Do the Impossible – 10 Steps to Motivate Without Money
Ever wonder if or how you can motivate without money? Every day, workers wake up, go to work, and come home. These people "work to live," and although the routine is monotonous the paycheck is necessary. If you ask them, they may tell you that money motivates them and they would leave in a heartbeat for a small raise. However, in today’s economy, many organizations no longer have the luxury of using money as a motivational tool.
Here at Profiles International, we wanted to identify solutions to the challenge of motivating employees without monetary rewards. We began by surveying participants from small, medium and large organizations from multiple industries. We wanted to figure out what it was that motivated these people in their jobs right now, if financial bonuses were not an option.
Here are some select quotes from participants on the issues they were facing:
- "My current employer has little room for me to expand to the next level. I feel I have reached the end of the line in terms of advancement."
- "I think my company is good to employees, but could be better in rewarding outstanding employees."
- "Learning and development plans are slow and low at my company right now."
Our research showed some interesting results:
- 75% of respondents felt there was a high chance of achieving their personal career goals at their company
- 85% stated that they would recommend their company as a good place to work
- An overwhelming 92% said that they were proud to work for their company
- 90% of survey participants indicated that they are challenged in their work
10 Ways to Motivate Without Money
On collecting and analyzing the survey results, we were able to identify many best practices for motivating employees without money, the extra factors that drive them to work hard and engage them in what they are doing. Here are the top 10:
- Learn and acknowledge your employees’ personal career objectives.
- Retain high-quality employees through sound management practices.
- Affirm job security through managerial support in every aspect of the employees job.
- Create an atmosphere and culture where people want to work.
- Show employees respect through consistency and empowerment.
- Redefine job requirements to provide interesting and challenging work for successful employees.
- Provide mentorship opportunities.
- Create a dialogue of feedback with each employee to encourage, challenge and inform each other.
- Recognize significant performances, or achievements, publicly.
- Provide additional training and educational opportunities for upwardly mobile individuals.
As proven by employees, it is possible! As managers, if you follow these steps, you have a better chance of having your people fully engaged and motivated!
To learn more about our research, download the free report.