Money isn't everything even in the area of employee motivation. There are many non-financial instruments that can improve motivation eaqually or even better than financial benefits. Inc.com brought nine tips on how to motivate without spending more money not only in small firms.
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Be generous with praise. Try to praise every improvement reached by your people. Praise publicly.
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Cancel the function of project managers. Try to give team members the same powers and see how it will strengthen cooperation.
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Do not tell employees what to do. Instead, ask questins to make them feel that they came with your idea themselves. "Do you think it is good to do it that way?" is better than "Do it this way."
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Do not criticize. Rather show your people how to learn from mistakes. Talk about what should be done differently and do not blame anybody.
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Make your people leaders. Emphasize their strengths and the fact that you want them to lead others by example.
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Go to lunch together. Surprise your people by, for example, once a week lunch invitatation.
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Offer small rewards. Praise at the beginning of meetings or competition for employees will do a lot.
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Organize corporate parties. Common celebrations strengthen the coherence of your team. You do not have to wait for official holidays.
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Share successes and failures. If you expect high performance from your people, they deserve to know where your company stands.
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