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How to Motivate Employees on a Budget

How to Motivate Employees on a Budget

Liz Ryan / BusinessWeek

Tell them what to expect about raise

If you’re held to an average 2% raise budget, let your employees know that. It’s one thing to receive no raise or a tiny bump when other people are getting 6% or 8%. If the austerity plan is companywide or divisionwide, spell out your constraints to your team.