If you’ve ever worked for a big company, it may appear that it’s easy for them to keep their employees happy and motivated. With big budgets for annual parties and regular treats, they’re often able to spend thousands on employee rewards. The effectiveness of this aside, if you don’t have the budget of Amazon or Google, how can you keep your workplace brimming with motivation?
If you want to inspire your employees to do their best for your small business, you want them to feel as if they hold a personal stake in its success. To achieve this, it’s important that you consult them every step of the way. Thinking of taking your venture in a new direction? Or perhaps you’re considering taking on a new project? Whatever the decision, involving your employees will give them a sense of ownership that works wonders for motivation.
On the theme of non-financial rewards, you can also get great results by investing in people and their skills. Chat to your employees, and find out what they want to get out of their career. If they’re not satisfied, they’re unlikely to be motivated – so chat to them about how you can adapt their role to better play to their strengths.
Of course, sometimes a good old treat is the best way to boost workplace morale – but you don’t need to take out a business loan to be able to afford one. Personal, well-thought-out activities and perks can work even better than flashy parties and events, and will be easier on the pocket too.
It can be as simple as using petty cash to take your team bowling once a month, or splashing out on the first round of drinks at social get-togethers – it doesn’t take much to let your team know that you appreciate them, and you’ll be amazed how much this translates into results for your business. We do this at Expend, and our regular company outings have gone a long way towards building the strong sense of unity and camaraderie we have amongst the team.
Want to treat your team but worried your budget won’t stretch? Our Expend solution is a great way to keep track of all your income and outgoings in real time – so you’ll always know exactly how much cash you’ve got to splash.