How to keep employees motivated on a limited budget.

It’s likely that budgets for all business departments are being squeezed, and more to come as businesses try to tighten spending to navigate the cost-of-living crisis over the winter months. At the same time employees are feeling the pinch from all around them too, which can have a real impact on their motivation levels. 

Now, if you’re in HR you’ll know that these situations are not new, we are often the ones in the business that are called upon to help lift motivation and engagement of employees. So, how can you achieve this on a limited budget? 

Firstly, for me it’s about having a clear and concise policy in place, sounds simple right? Although not every business has this, and you’d be surprised how a lack of direction can impact managers and employees. 

Understanding your employees is a biggie here too, what matters to them personally, how they are motivated etc. 

All great relationships start with great communication, and that’s another area to focus on. 

With me so far? 

All free (other than time investment) options that can really have a huge impact to motivation levels are worth exploring.

It’s worth noting the little things can have huge impacts too; things like saying thank you, making time for employees to vent or chat when needed, treating employees like the adults they are, showing respect to their views. 

Now, all my suggestions so far won’t cost (other than time) yet are impactful when getting great foundations in place. 

A top tip from me here would be to understand why you do the things you do as a company, and not to be afraid to challenge those processes/ policies, especially as you grow, there can sometimes be a better way to do things.

Never be afraid to bring employees on the journey with you, giving them an opportunity to influence the business can be a huge motivator. In fact, many surveys are showing that employees are now looking for sense of purpose in their role over renumeration packages, something to think about. 

Giving employees clear understanding of their role, how it impacts the overall business, the value they add and what you expect of them can also create more engaged employees who are motivated to do their best, even during challenging times. 

Employee engagement is so much more than the tick box exercise many think it is. When executed well, it can have positive impacts to productivity, profitability and employee retention and attraction.

How to keep employees motivated on a limited budget.