Running a Business

Rewards: What’s More Influential than Money?

Almost every entrepreneur is under the impress that the best form of employee motivation and influence is money. That is a wrong notion. While money is a form of employee motivation, it is not the only way. In fact, there are methods that work even better than money. These methods will come handy when you have just started or are seeing losses and really can’t afford to give your employees incentives to perform better.

So what are the ways that won’t cost you a dime?

Ideas

When I say ideas, I don’t mean that you just ask them to put in their thoughts. Of course, asking them what they think is ideal but if you really want to motivate them, you have to take a further step.

You should team your question with a compliment and some praise. For example, “This is impressive. I wish I had more employees like you.” After saying that, ask whether the employee has any inputs.

You will be delighted with the results you get. The employee will put in more thought and his ideas will be more insightful. He will showcase what he is the most powerful at and you will be able to use that later on.

Leadership

Keep it informal but do it for sure. Create a role of leadership for your employees. For example, when you are stuck in a pickle, ask the employee to form a small team with other employees and tackle the problem. He will lead from the front.

This will help you assess his leadership skills and of course, he will work with more determination.

Help

Ask for help! Your employees will love that. Thing to keep in mind here is to make it a little personal. Also, make sure you ask for help in a field that is not really related to what your employee usually does. This will show that you really have faith in him.

In order to keep your faith alive, your employee will work more enthusiastically. Remember this is simple but very powerful!

Team

To make sure you convey to your employees that you value them, form teams. Remember that the footing is uneven here because you are their leader. Even it out by forming teams.

Treat your employees as equals sometimes. Say you are planning on attending a presentation. Why not ask a couple of your employees to join you? It will benefit you, it will benefit them, and obviously it will benefit the business.

Remember that in all these ways, the key is to do it right. Always conjure up some praise and flattery. Your employees will love it!

Entrepreneurial Learning

Besides handing out incentives, getting closer to your employees by asking for help and their inputs will help you a lot. Also, teaming up with them every now and then and treating them as equals will pump them up. All this is easy once you know how to do it. Use genuine flattery and you will do just fine.

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