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It’s Not All About The Price Tag



It’s Not All About The Price Tag


This may surprise you but…

Not everyone is motivated by money.

Employees like to be rewarded for doing a good job.  Now don’t get me wrong, I believe staff should be rewarded, but they do need to be going over and above the standard expected. Why? Because they get paid a salary to do their jobs so why give them extra because they do it!

I get lots of business owners ask me about reward schemes and bonus structures and they spend hours putting it together and then tell me they don’t work.

Do you know why?  It’s because it’s the rewards the business owner wants to receive not the staff.

So they then ask me ‘how do I find what they want?’ 

It’s simple; just ask.  Often they just want a thank you, a day off for their birthday, a bunch of flowers, a voucher for a meal for them and their partner.

Don’t over complicate it. It’s not rocket science.

People will work harder if they believe there are rewards for good results and penalties for poor ones.

Reward Strong Performance Creatively

Without question, money can be a massive motivator. In turn, a financial bonus or a pay rise can be a powerful way to recognise and reward brilliant performance.  But only if that employee is motivated by money.

But it’s not the only option… remember it’s not all about the price tag.

It’s important to understand that not everyone is motivated by money. In fact, you could find that more creative rewards have a far greater impact on the individual in question and overall team morale.

The key here is to discover what drives your staff and then reward appropriately. (Taking the time to find out in the first place sets you apart from most managers – because it shows you genuinely care).

For example, some individuals may want recognition. Others may want position or authority. Others may want new opportunities or the chance to develop further.

Also, you don’t have to (in fact you shouldn’t) just reward staff for the big stuff.

Remember just ask what they would like, don’t assume its money!


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