{"id":5200,"date":"2016-07-01T18:03:00","date_gmt":"2016-07-01T12:33:00","guid":{"rendered":"https:\/\/startup-buzz.com\/?p=5200"},"modified":"2016-07-01T23:06:24","modified_gmt":"2016-07-01T17:36:24","slug":"how-to-incentivise-your-employees-when-you-are-out-of-cash","status":"publish","type":"post","link":"https:\/\/startup-buzz.com\/?p=5200","title":{"rendered":"How To Incentivise Your Employees When You Are Out Of Cash?"},"content":{"rendered":"

What’s worth doing is worth doing for money. -Gordon Gekko (Wall Street)<\/em><\/p>\n

So while we know that money is \u201cthe motivator\u201d and the monetary incentive makes the world go round, is it possible to motivate and incentivise employees without spending cash?<\/p>\n

Can you prove Gordon Gekko wrong and still survive?<\/p>\n

Hmmm…a challenging task but worth a try, especially for or a startup, which is perennially short of cash.<\/p>\n

Below, are a few practical (and no expense) answers:<\/p>\n

Say Thank You<\/strong><\/h3>\n

A personal note of thanks from a senior person, especially the founder\/CEO of a startup can work wonders. With a small team, the founder can actually send a handwritten or a signed note to the employee, and chances are that they would frame it up and proudly display it on their desk, and stick to that desk for a long time. Good luck beating that with any monetary incentive. \u00a0\"Thank-you\"<\/a><\/p>\n

Interesting read: Best ways for a startup to find new employees.<\/a><\/p>\n

Boss\u2019 Day In<\/strong><\/h3>\n

Make your high potential manager spend a day with you – sit with you while you deal with the clients, partners, and all others. Make him realize the significance of the company\u2019s vision and what you have to go through. In one day you would have earned an evangelist without spending anything (pay for his lunch, though!). \u00a0\u00a0\"work-with-boss\"<\/a><\/p>\n

Teach Them<\/strong><\/h3>\n

Ask the \u201cexperts\u201d to groom your high potential people in their areas of expertise. A training session for the best sales people with your marketing VP won\u2019t cost much, but can be worth millions.\u00a0\"teach-them\"<\/a><\/p>\n

Pot Luck<\/strong><\/h3>\n

They get their own food and you are the guest of honour. As cheap as it gets, employees love it, though. Ask the best team to have a pot luck and you can order ice creams for all in the end (be frugal, don\u2019t be cheap).<\/p>\n

Wall of Honour<\/strong><\/h3>\n

The employee of the week\/month, best salesman, best accountant and best ops guy would love to see themselves get a spot on the \u201cwall of honour\u201d. They would happily provide their own pics, you just have to give some chart paper and glue (no that doesn\u2019t count as an expense!).\u00a0 \u00a0\"employee-of-the-month\"<\/a><\/p>\n

Go Social<\/strong><\/h3>\n

The Facebook page costs nothing. Putting your employee\u2019s wedding photographs or the proud new mommy\u2019s photo with her newborn would add a human touch to the company\u2019s Facebook wall and buy you more loyalty points than a costly wedding or baby shower gift.\"social-networking\"<\/a><\/p>\n

Interesting read:\u00a0Social media powerful and free marketing tool for startups<\/a><\/p>\n

Have Fun<\/strong><\/h3>\n

Fun events like a musical chair or tug of war cost nothing, but can be really great in easing the stress and making the people drop their \u201cbusiness masks\u201d.<\/p>\n

Special Team<\/strong><\/h3>\n

It costs nothing, makes them work even more, but they love it, feel motivated and even boast about it. Choose your best people to become a part of the \u201cspecial teams\u201d for high impact projects. They would love it, and you would love the results. And the budget? Well, it is effectively zero.<\/p>\n

A company, especially a startup needs an army of motivated and faithful employees. While the company might not have enough cash to pay larger salaries to their employees, they can more than makeup for it by using innovative ideas.<\/p>\n

Read more:\u00a0Social Media Helps in Funding Startups. Know about it now..<\/a><\/p>\n

If you like this article then please share with your friends and comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"

What’s worth doing is worth doing for money. -Gordon Gekko (Wall Street) So while we know that money is \u201cthe motivator\u201d and the monetary incentive makes the world go round, is it possible to motivate and incentivise employees without spending cash? Can you prove Gordon Gekko wrong and still survive?<\/p>\n","protected":false},"author":434,"featured_media":5202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22],"tags":[1426,1419,1421,1420,1424,1423,1427,1422,1425],"class_list":["post-5200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ideas","tag-go-social","tag-incentivise-your-employees","tag-motivation-for-employees","tag-out-of-cash-in-startup","tag-pot-luck","tag-say-thank-you","tag-special-team","tag-teach-them","tag-wall-of-honour"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/startup-buzz.com\/wp-content\/uploads\/2016\/07\/incentives.jpg","_links":{"self":[{"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/posts\/5200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/users\/434"}],"replies":[{"embeddable":true,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5200"}],"version-history":[{"count":5,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/posts\/5200\/revisions"}],"predecessor-version":[{"id":5217,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/posts\/5200\/revisions\/5217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=\/wp\/v2\/media\/5202"}],"wp:attachment":[{"href":"https:\/\/startup-buzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/startup-buzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}