ENERGI BUZZ - May 2009
5/4/2010 2:46:21 PM
Creating an Employee Stimulus Package
In a time of pay cuts, layoffs and pay freezes, employee morale is plummeting just as fast as their 401(k)s. To rescue and restore productivity, organizations need to apply sincere employee recognition strategies with the hope of re-engaging and rallying them around the company’s objectives. Try these techniques to light a motivational fire:
1) Recognize a Job Well Done Often. Always let people know that their efforts are worthy, valued and appreciated. By recognizing employees throughout the year, you are creating an atmosphere of appreciation, which generally naturally boosts motivation and productivity.
2) Encourage Others to Thank Coworkers for their Contributions. Constantly promote a culture of recognition and gratitude among coworkers to hopefully create a more positive environment.
3) Link Recognition to the Bigger Picture. Explain to employees how their efforts are directly contributing to the company’s goals and values. This will make them want to repeat those good behaviors, as they feel they are truly making a difference.
4) Communicate with Employees Constantly. Always give workers updates on the company’s progress to avoid negative rumors from spreading. This will raise awareness, boost performance and continue to develop a culture of appreciation for one another.
Giving sincere praise costs nothing, beyond a bit of your time – yet it can do volumes for boosting morale.
Cutting Costs without Layoffs
As the economy continues to take a turn for the worse, many employers are finding effective ways to cut costs without having to lay off any employees. If you are one of them, consider some of these cost-saving techniques:
In a time of pay cuts, layoffs and pay freezes, employee morale is plummeting just as fast as their 401(k)s. To rescue and restore productivity, organizations need to apply sincere employee recognition strategies with the hope of re-engaging and rallying them around the company’s objectives. Try these techniques to light a motivational fire:
1) Recognize a Job Well Done Often. Always let people know that their efforts are worthy, valued and appreciated. By recognizing employees throughout the year, you are creating an atmosphere of appreciation, which generally naturally boosts motivation and productivity.
2) Encourage Others to Thank Coworkers for their Contributions. Constantly promote a culture of recognition and gratitude among coworkers to hopefully create a more positive environment.
3) Link Recognition to the Bigger Picture. Explain to employees how their efforts are directly contributing to the company’s goals and values. This will make them want to repeat those good behaviors, as they feel they are truly making a difference.
4) Communicate with Employees Constantly. Always give workers updates on the company’s progress to avoid negative rumors from spreading. This will raise awareness, boost performance and continue to develop a culture of appreciation for one another.
Giving sincere praise costs nothing, beyond a bit of your time – yet it can do volumes for boosting morale.
Cutting Costs without Layoffs
As the economy continues to take a turn for the worse, many employers are finding effective ways to cut costs without having to lay off any employees. If you are one of them, consider some of these cost-saving techniques:
- Extend unpaid holiday or vacation time pay for employees.
- Shut your business down for four days at the end of the year.
- Cut employee salaries.
- Offer four-day workweeks.
- Freeze wages and offer other incentives.
- Cut pensions or reduce contributions to retirement plans.
- Cut overtime pay and work hours.
- Reduce employee travel expenses.
- Limit your purchase of new office equipment and supplies.
- Freeze your hiring efforts. Train current employees to handle expanded duties.
- Raise employee healthcare contributions.
- Move employees to positions with a lower pay rate.
- Ask for employees to volunteer to take a furlough.
