Steps to Motivating Your Employees in Tough Economic Times

Need to boost employee morale during these tough times for more productivity. Here's how.

Step 1. *Make employees feel needed*

Schedule a meeting with each employee, if possible, or have a company-wide meeting for all employees, and convey your appreciation for the value that each employee adds to the firm. Outline the value that each job function has and arrange with the human resource department to provide documentation that demonstrates this gratification. When employees feel they are making a contribution, their morale soars.

Step 2. * Offer non-financial rewards *

Explain to each employee in detail about the revenue and costs the company has, not just that there is no money for raises and bonuses. Too often employees only hear that there is no financial reward for their hard work without being told why. Once each employee understands the financial strains then he or she will accept non-financial rewards, such as flextime, more readily.

Step 3. * Find out what employees want *

Ask employees directly what non-financial rewards they would like in exchange for bonuses and raises. Find out what makes your employees tick. By doing so, you can implement effective motivational programs to boost morale.

Step 4. * Involve employees in decision-making *

Include your employees in all decision-making processes at the company. By involving your employees, you immediately motivate them by making them feel part of the company. Let your employees brainstorm ideas with upper management and offer suggestions on how to improve product lines and reach untargeted markets. By including everyone, the financial health of the company will improve.

Step 5. * Create a family-oriented atmosphere *

Make the work environment rewarding by recognizing employees for good work and generous deeds, eliminating negative work behaviors, such as gossip, and ensure employees feel needed. By creating appositive workspace, employees will instantly feel motivated and thus become more productive.

That's all it takes. Remember, the success of any business depends largely upon the morale of all employees. Every employee counts, regardless of his or her function. Keep your spirits high and your employees motivated during these rough times.

Gary Spirer holds a bachelor's degree in Literature from New York University graduating magna cum laude, and an MBA in Finance from Columbia University.

Mr. Spirer

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