short on cash

Employee Incentives on a Budget…

Posted by Carl Gould on September 17, 2010
business, employees / No Comments

When a business is short on cash but wants to show their employees they care, there are a number of things that you can do. Non-monetary incentives are known to be a most effective way to retain employees on the long-term. Money doesn’t hurt either!  Here are a number of clever, low-budget ways you can show your employees you care.

1.      Allow employees to use gift cards or frequent buyer points or other awards and coupons received back from your suppliers.

2.      Allow employees to attend networking events and training seminars

And here are some other ways that we have found that motivates our employees. We have found them effective; what is your experience?

1.      We discuss virtually all major issues as a team, taking feedback from everybody in the office no matter what their title or position;

2.      We recognize all birthdays, anniversaries with our attempt(however lame) to surprise each other;

3.      We have an open door policy to any training that anyone would like to do (i.e. personal or professional development);

4.      We post our individual personality profiles on our office doors;

5.      We have a holiday dinner each year, inviting spouses and/or significant others;

6.      Flexible hours;

7.      We allow each employee to celebrate their native holidays in lieu of the American holidays (We have two individuals in our office that their native countries are outside of the U.S.);

8.      Casual dress;

9.      We collaborate on the snack table (this is a serious topic in our office ? )

Carl L Gould is the president and Chief DISCoverY Officer CMT International, LLC (www.CarlGould.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide.  His upcoming book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level.

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