LocalPages has a few suggestions for small business owners during these tough times.
These are tough times for many business owners, but small business owners are being hit hardest. None of us are making the money we used to, and that has meant necessary budget cuts. Loss of revenue has impacted employers and employees alike. With employers unable to give raises or provide bonuses, employees have felt a lack of motivation and job satisfaction.
When you can’t afford to motivate your employees with an increase in pay, it is time to be creative. Here are some tips for how you can keep your employees performing well:
1) Show your appreciation.
Do you say thank you when an employee has done a great job? Surveys show that 68% of employees said that job satisfaction is increased when appreciation is shown. By congratulating an employee for a job well done in front of their peers, or in a hand written note, you will motivate them without spending a dime. Be creative with how you show appreciation, you don’t have to spend a lot, but a little here and there can make a huge difference.
2) Recognize good work.
Think about how you would feel if you spent money on a diamond bracelet for your girlfriend or wife, only to find it stashed away somewhere. If she never wore it, you would feel as if your money went to waste. How would you feel if you spent hours preparing a great meal for your boyfriend or husband, and he never complimented the way it tasted, or even said thank you? People like to know that their hard work has not gone un-noticed. Recognize your employees when they have worked hard. You can accomplish this by selecting an employee of the month, or holding small banquets to congratulate good work.
3) Prevent boredom.
Employees tire of repetition, and when they become bored they are less likely to maintain motivation to work hard. Keep your employees engaged and challenged. Find out what excites your employees, what they’re good at, and assign them projects that utilize those skills.
4) Encourage input.
By asking your employees for their opinions or suggestions, you are showing them that you value their opinion. Everyone likes to feel relevant and important. Hear their ideas and show your appreciation for their input, and you will see an improvement.
5) Improve work environment.
Sure money is important, but it’s not everything. If you are a great boss, your employees will want to work harder for you. If your work environment is a fun place to be, job satisfaction will increase. If employees are happy to come to work they are more likely to work hard and stay with your company, even if you are going through hard times. Make employees feel special on their birthday, have an office party from time to time, these little things can make a huge difference.
Remember you don’t have to spend a lot to keep your employees motivated. When times are tough get creative, and you won’t lose valuable employees.