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How to Motivate Employees on a Budget

How to Motivate Employees on a Budget

Liz Ryan / BusinessWeek

What comes around

One manager friend called me to say, “Following our department’s uninspiring 1% pay increases last month, I’ve got a top employee who’s considering an outside offer. I’m torn between encouraging her to take it and hoping she’ll stay in touch so maybe I can hire her back, and trying to sell her on just staying here.” Sometimes, the best option is for an employee to move on. You might not stay in touch, but you may. She could even end up hiring you, someday. But if one of your team members is really chafing over pay issues, it might be best to let him or her move on.