MANAGING in the

NEW WORLD

One of the age- old incentives, companies offer their employees, while enticing them to work better, is of course cash benefits. However, several studies have confirmed, that there may be better ways to motive employees. One sure way is by benefits, which need to be communicated at the time of the talent recruitment process itself. Yes, cash can motivate employees more in certain kinds of work such as in manufacturing. Even while cash is doled out, a meaningful role ought to be attached to the same. Performance incentives must thus be reconsidered accordingly. The occasional thoughtful gifts would also bring much needed joy to the employees. Intangible perks such as the flexibility of time is always an advantage. Employees must further be encouraged to reward each other. The recognition to be given to employees must be made in public. At times, merely a thank you gesture would also suffice.

Source:https://hbswk.hbs.edu/item/forget-cash-here-are-better-ways-to-motivate-employees

Uploaded Date:06 February 2019

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