7 Ways to Motivate Without Money
Today’s guest blogger is Dr. Todd Dewett. You can learn more about him at the end of the post. He covers the importance of non-monetary ways to motivate your people (and we’ve talked about it NOT being about the money in this prior post – CLICK HERE to read why Nelly is wrong). Here’s Dr. Dewett: Money does not matter nearly as much as you think it does. At home or work, no amount of money replaces great relationships. Leaders generally like money more than the folks whom they lead. The fact that money motivates leaders more is not a bad thing per se. The problem is that leaders too often assume that money is a prime motivator for others. Employees, of course, do like money and want to continue receiving their paychecks. Yet, when you go ask them what really makes them happy, they will say things like being appreciated, being in the loop, and having good relationships. Money is rarely near the top of the list. If you want more bang for your buck, you actually have to stop spending so many bucks. There are many potentially useful monetary motivators that serve as a financial “thank you,” such as a day of paid vacation, tickets to a sporting event, gift certificates of any form, simple cash payouts, and more elaborate efforts such as gain sharing.
