Who Wants To Know 9 Ways to Reward Good Work That Are More Effective Than Giving Money?

And two crucial secrets to making your team work.

Research suggests that non cash rewards are more effective and less expense than cash rewards. An example of non cash reward is time off and having the choice of working on projects they like. I recently visited a company in Melbourne whose staff set the production goals and all the staff wanted as their reward was to go home when the work was done. Believe it or not the staff set the production targets 25% higher than the management team had ever expected.

This small business is now thriving and has now become a thriving national business, EVEN IN A “RECESSION”. And here’s an interesting point, they don’t hire well trained professionals because professionals have “attitude” and believe everyone should be as knowledgeable as they are, and therefore they tend to talk down to people.

So here are two of their crucial business secrets:

Secret One: They hire based on behaviours not qualifications.
Secret Two: All the systems in the business were so well defined that anyone could come into their business and become productive after 5 days, as long as they had the right behaviours.

Would you like a 25% increase in your team’s profitability?

If you want to change employee behaviour research reveals that the reward will need to be between 5 to 8 percent of an employee’s salary…IF YOU USE CASH. The facts are the best rewards are not cash and they are far more effective. Non cash rewards that are effective are often only half the value of cash rewards, but believe it or not they are far more effective!

Here are nine cheaper and far more effective ways to reward staff that than money.

1. Recognition
2. Time Off
3. A piece of the action
4. Favourite work
5. Advancement
6. Freedom
7. Personal growth
8. Fun
9. Prizes.

Secret Three: The funny thing is staff are often far more satisfied when obtaining non cash rewards and the research suggests staff satisfaction drives your businesses profits sky high.

A recent survey conducted by the Gallup organisation looked at employee attitudes and the impact on business outcomes. They found that businesses where employees had high job satisfaction also had:

2 Brilliant Tips for Getting the Employees You Want!

You Can Save Time, Energy and Money.

Business owners and CEO’s have three extremely valuable BUT LIMITED assets and that’s time, energy and money. The strange thing is that again and again I hear of business owners and senior managers spending their valuable time and energy trying to train their staff to do the right things at the right time to get the right result. Then as the months go by and nothing really changes they realize they are wasting their resources because they have not asked themselves two crucial question and they are:

- How do I know if the employees I am training want to learn and improve?
– How do I know if the employees I am training want to use this knowledge to improve my business or my department?

This is a waste of resources and damages their health that’s guaranteed, there is enough research now to prove that anxiety, stress or anger not only prematurely age you, but they also shorten your life span.

So how do you know if an employee actually wants to learn and improve and how do you know if they actually want to use this knowledge to achieve your business goals?

Answer and tip one: Ensure you check the commitment of an employee during the selection phase by getting them to fill in a rigorous selection criteria.

The Benefit of a Selection Criteria Form is:

A. You will immediately find out whether the applicant is really committed to your position if they can be bothered to fill in the selection criteria and send it back to you. Seven out of ten applicants will not return the selection criteria and this is great because these people are not driven, motivated and committed enough to fill in the form and these people are not the people you want in your business.

B. The selection criteria can collect a lot of objective relevant information about a candidate. This information is directly related to what you need to find out about this person

C. The selection criteria force the applicant to ask themselves. “Do I really want to do this role?”

D. The selection criteria give you great insight about the candidate’s ability to read instructions, understand them, reflect on the content and then comply with your directions. Candidates who fill in the selection criteria are far more likely to achieve results for you than those who can’t find time to fill in the form.

Test Them!

Now how do you know if the employees you are training want to use this knowledge to improve your business or your department?

Answer and tip two: There are some simple but brilliant psychometric tests on the market that clearly show if the candidate you are reviewing or even if an existing employee is truly interested in self improvement. Chet Holmes one of America’s leading sales and marketing guru says:

“You’d be crazy not to use these personality assessment services today,
they are scary accurate and can save you tens of thousands in hiring and management.”

Why waste time, energy and money?

You can now easily find out:

·         If the employees YOU are training want to learn and improve?….And
·         If the employees YOU are training want to use this knowledge to improve your business?

Committed To Building Your Business With The Right Staff.

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