In challenging economic times, it is difficult to offer wage increases to reward the best employees. However, there are thankfully other alternatives to motivate your troops.
To retain your best employees without increasing their salaries, you must provide them with new challenges at work, maintains Jean-Yves Le Louarn, Professor at the HEC’s Department of Human Resources Management.
“For example, the manager can recommend a good employee for a promotion in another department says the Professor. Or, in the case of a sales rep, he can broaden his territory.”
Get your staff involved in restarting the company
“However, avoid placing your staff in outlandish projects”, warns Richard Chénier, HR Consultant with COSE, a personnel management consulting firm. “During a time of crisis, one must consolidate the market.”
He suggests that one should get his best employees involved in the company’s restarting program. For example, provide them with the opportunity to work on projects that are related to reorganizing the activities, reducing expenses and overall costs or improving the company productivity.
Say thanks
“Money isn’t everything! says the CEO of the Ordre des conseillers en ressources humaines agréés, Florent Francœur. The employee must feel wanted and appreciated. He must be thanked. After all, he is helping us go through it.”
Mr. Le Louarn explains that simple considerations can improve the enthusiasm at work. “For example, offer lunch to the members of your team to highlight their excellent work and don’t be afraid to say something nice to your staff. You can also write a message in your internal newsletter to underline your team’s exceptional contribution.”
Bet on training
Dominique Gagnon, Talent Management Consultant with TendanceRH, believes that companies should use the slowdown in productivity to enhance their teams’ knowledge and skill set. “The government has set up several programs to support training, she adds. It allows the company to mobilise the employees and keep them active.” Training is also a good way to improve the employees’ competencies, which is always an added bonus to any company!