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Maintaining morale when money is tight

By January 7, 2012 May 6th, 2020 No Comments

 When times are tough and money is tight, companies often focus on reducing corporate costs rather than looking at areas that can be improved to generate additional business.  At times like this, many managers forget the importance of staff morale, and fail to realise that cuts in the workforce can have a major impact on the performance of staff that remain.

With a little thought and input from management and staff, it is possible to maintain or enhance morale and create a passionate, hard-working team that is committed to growth and improvement. 

Here are four low cost ideas that can help you maintain the morale in your business when money is tight (and in particular when redundancies have been made) :

  1. Share the vision. Ensure that your staff are clear about the company vision, and how they can play a part in achieving its successful execution. Show how far you will go when people help your company succeed. If there are disappointments, share those too. Be open and honest, and most importantly, be consistent. 
  2. Recognise the positives. Turn your business into a culture where praise is given for great work. It costs nothing, but can mean a lot to the recipient. The higher up the management structure this praise comes from the better, and best of all it is free. Often, the best form of praise is when it is done in front of others because it motivates the rest of the team to achieve similar results, but a quiet, one on one “well done for a great job” can go a long way. 
  3. Build reputations. Promote your top performers’ strengths and let them know that because of their excellent work you want them to be the role model for others. They will remain motivated and continue to live up to their reputation as a great performer.   
  4. Be spontaneous. When you see great behaviour or experience a fantastic piece of work delivered by one of your staff or project team, reward them. Take that person out to lunch, buy a round or drinks or purchase some doughnuts to celebrate a team success, or let them go home early. It doesn’t have to cost the earth, and the expense to the business can be significantly lower than the perceived value to the recipient.

Brownie Points delivers the tools to engage, inspire and reward staff to ensure that behaviours are aligned with the corporate vision, especially when times are tough and money is tight.

To discuss what we can do for your business call us today on 03 9909 7411, or email us at info@browniepoints.com.au

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