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How to Motivate Employees on a Budget

How to Motivate Employees on a Budget

Liz Ryan / BusinessWeek

The last reward

The “last reward” comes last in our list because it’s the most obvious employee motivator, notwithstanding the fact that managers routinely forget to make use of it. We refer to praise and acknowledgement, the ‘attaboys’ and ‘attagirls’ that remind employees we’re paying attention. Acknowledging your team’s efforts is a specific way in an ongoing process that won’t make up for a low raise, but will show your employees you see their value, even if you can’t put a dollar amount behind it. The habit of dropping frequent, relevant acknowledgements will also increase your one-on-one communication with your employees—and that is never a bad thing.