Money isn’t a motivator. There, I said it! But don’t just take my word for it. In my latest column for ProfitGuide.com – 16 Ways to Motivate Your People Without Spending Money – I not only give you the research that backs up this statement, but I also offer sixteen zero- or low-cost ideas to reward your employees on a shoestring budget.
You need to pay people fairly but …
Sure, you need to pay your people, and pay them fairly—you’re not going to accomplish much if your staff feel like their compensation doesn’t reflect the fair market value of their work. But while lack of money can be a de-motivator, cash alone won’t make employees do their best.
So what low-cost motivation ideas do you have to add? What are some of the things you do to inspire, encourage, and motivate your people to high performance? Would love to hear what works for you. Please share by commenting below.
P.S. I am now in my second year as a regular contributor to ProfitGuide.com’s panel of business experts. You can find links to my previous columns on their site. For your information, Profit Magazine is a sister publication to Canadian business magazine giants Canadian Business, MoneySense and Macleans, and their list of columnists reads like the Who’s Who of Canadian business, so I am honoured to be in such distinguished company.