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How do you keep top performers motivated when compensation and opportunities are limited?
Looking to learn new ways for motivating employees to achieve more when rewards and incentives are limited.
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6 Answers
Ask them. You'd be surprised how often the blunt approach works. They may want all kinds of things you can easily provide but never considered part of a reward context.
Note also that top performers in one field or department may have wildly differing preferences from those in another. Your top-performing salesperson is not going to want what your top-performing technician wants.
You're right. Why guess when you can just ask. Your recommendation also promotes open, honest communication and employee engagement. Thanks!
This obviously depends on the nature of the group and nature of the business. Top performers often thrive on recognition amongst their peers or finding ways of recognizing them is crucial. Obviously you want to recognize all exemplary performance but your top people will likely be there most often.
You don't talk about the size of your business but often times quality of life and work/life balance are good. Finding ways of balancing the high expectations of work with maintaining balance in other areas of their lives is a great motivator. Time off, flex time, etc
Contests, trips, etc are relatively inexpensive and can be great for highly competitive people.
Use top performers as mentors of less experience/successful people in like areas. Use them to educate other parts of the business about what is working/not working in the marketplace. Rewards their expertise and success and gives them visibility with their peers.
Often getting spouses involved in the rewards is also a good way of providing quality of life, motivation, and peripheral motivation from the home front particularly when the spouse benefits from the rewards (time off, trips, flex time,etc)
Just a few thoughts.
When you can not offer compensation or immediate opportunities, what you can provide is mentoring and direction. A good mentor is hard to find and top performers truly value the guidance and direction. In addition, you can always turn the opportunity around and provide a structure for them to mentor new or less seasoned employees.
Simply taking an interest and building strong relationships is also valuable. Always know your top performers interests and engage them in conversations and side-projects that interest and motivate them.
Work is more than a paycheck and promotions (although they are undeniably coveted). Take the opportunity in these times of relative economic hardship to build connections with your top performers that will help balance the compensation and opportunity issues - your staff will really appreciate it and you will build loyalty that will last a lifetime.
Top performers are human - there is a science to the human beast. First understand the Psychology of the human animal then, put motivations in place that focus on your top performers. See the full explanation here. http://corporatestrategiesgroup.com/index.php?option=com_content&view=article...
I think top performers are driven by adrenaline, risk, and recognition. Often they want to be highly respected for gonig above and beyond to attain success for their companies and want to be called out. If compensation is a issue, throw a dinner party, send a meaningful email, get their spouse a 'spa or golf cert' and it widely known that 'x' is a great performer. Often money comes in second to recognition to top performers.
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