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How to Motivate Employees on a Budget

How to Motivate Employees on a Budget

Liz Ryan / BusinessWeek

Keep their eyes on the prize

When the purse strings are tight in corporate life, employees want to know, “What milestone will change the financial picture?” It’s our job as managers to keep them well informed. A less-than-expected annual increase is not only disappointing, but also causes employees to wonder about the company’s long-term viability. If the company is close to landing a major new client, or receiving a round of investment funding, employees want to know as much as it’s legal to share. The worst scenario in a time of miniscule pay increases is one where the managers say “I know no more than you do.” It’s our job as managers to find out, and to share (judiciously, of course) what we know.