When I’m talking about the brightest, I’m referring to employees. Too many companies do not provide the right incentives to attract and keep the best fit person for the job that they have open in their organization. My first recommendation to anyone – go out and hire the best HR firm that you can find to help put a plan together for your organization. Failing to do that, here are a few things to keep in mind.
- Money does motivate, but it’s not interesting. Having the highest paid salary in your industry is the equivalent of selling based on price – at some point in time a competitor will offer a lower price (or in this case a higher salary).
- Figure out your culture. Google “workplace culture” and figure out where your organization fits.
- Perks and benefits. Find something that falls within your budget. If your budget is zero, make sure you find a reason to say “thank you” every single day.
Here are a few ideas that have popped up in several studies over the years that employees have said that they value over money:
- A sense of purpose that employees can believe in and relate to,
- Extremely good two-way communication systems,
- An emphasis on making people feel appreciated,
- Rewards and recognition for superior performance and meeting goals,
- Regular and meaningful training,
- Flexible scheduling and vacation time; and,
- An opportunity to advance.
Hit Google again and look up “creative workplace rewards”. You may be surprised what you find.