Keeping morale high at the moment is a very important task for employers to ensure they complete successfully. Achieving this is not just a money issue as morale comes in many different shapes and forms. So, how can you motivate on a budget?

Budget Motivation

Money is tight at the moment, as we are all well to aware. For businesses with cost management in place, the idea of pay freezes is what is commonly used in order to preserve profitability. But even the few companies that are still making a healthy profit need to keep their workers working hard without increasing the costs of running their company through increased wages.

If you’re not careful though, not increasing your employees wages could lead to a lack of motivation among your team at a time when you most need their help. So, the question becomes: how to motivate staff without breaking the bank?

Chief executive of a Brighton-based internet company called Mistral, Karl Robinson believes motivation can work without spending a fortune. Last January he wanted to keep his staff working hard without offering extra cash as a reward. As they already earned commissions, he wanted to make sure his workforce received something they could actually see and enjoy.

He says: “We didn’t want to give them a cash incentive, as it would probably go on paying bills, but something they could enjoy, remember and talk about.”

Sales Competitions The Way Forward?

Therefore, he decided to introduce a quarterly sales competition. When a member of staff tops the quarterly sales chart, they get the usual handshake and congratulations, but they also get £1,000 voucher that they can spend on an air balloon flight, a day in a health spa, anything!

Obviously, if you are a smaller business with just a handful of employees, £1,000 may seem like a lot, but you could settle for something that costs you a little less.

It’s difficult to measure how successful any motivation techniques actually are, but Robinson believes he is on to a winner.

“We don’t have any formal measurement, but gauge the success by the level of excitement it has generated. There are some people who haven’t won and are desperate to do so. They are constantly striving. Some have even mentioned it as a target in their appraisal. Once that excitement fades, we will look for something else,” he says. “It costs just £4,000 a year, money well spent. It gets very exciting towards the end of the third month, especially if several people are in the running for a voucher, and of course it is highly motivating.”

What Do You Think?

Do you have any tips on what does and doesn’t work? We would love to know your thoughts and opinions. Leave your comments here.

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