How to motivate your team, without spending lots of money!

Keeping your team motivated and engaged is the difference between being able to provide a good or a great service or product.  In small businesses budgets are often tight so it can be difficult to put in place initiatives creating ongoing costs to the business.  Here are some ideas for how you can motivate your team, which are low cost and high impact:

  1. Salary: You need to pay your people the going market rate?  Money is rarely the be all and end all, but to avoid the costs associated with high turnover your employees need to feel you pay fairly.   If you aren’t sure whether pay is in the right range, check out local job adverts for similar jobs to see what the competition is paying, or ask one of the bigger recruitment companies to send you their most recent salary survey.
  2. Benefits: Benefits are often worth more to the individual than they cost the business.  If you cant afford Private Medical Insurance, think about a Health Cash Plan.  Travel ticket loans are also popular as they save your employees money and are no cost to the business.  You should also consider offering employees discounts, either on your own services or speaking with local businesses such as gyms, beauty salons and restaurants to see what they will offer as its also great marketing for them.
  3.  Work environment: Creating a great work environment is very important as we all spend a lot of time at work.  Take a step back and ask yourself (or even better ask your team), do people like the atmosphere in the workplace? Do they enjoy coming into work? What could be done to improve the environment?
  4. Flexibility: This is becoming increasingly important as people want to be able to balance their work life with their home life, and helping them do that should cost nothing.  Ask yourself, can you can you let your team schedule work around other commitments? Can your team work from home when needed? If the answer is no, think about whether there is anything you can do to improve opportunities to work flexibly.
  5. Development opportunities: Everyone wants to feel like their boss invests in their growth, so are you helping your team develop? You can start by putting into place a simple but regular review process where you make sure some high quality feedback is given.  You also may already have experienced team members who can offer 1:1 or small group training on specific areas.  Lots of companies offer webinars or breakfast training sessions on a range of topics, which you can encourage your team to subscribe to and attend for free. 

As you can see there are plenty of opportunities to motivate your teams, and these are just a few ideas.  If you think you would like to get more out of your team but are not sure where to start, get in touch for a free consultation meeting.