Whilst some employees are still lounging by the pool cocktail in hand, for others they’re starting to think about heading back into the office. Hopefully, they’re recharged and ready to bounce back through the doors, excited about the year ahead. But more often than not, that enthusiasm starts to waver as the tasks pile up and the workload increases and that memory of the pool fades away, so how can you keep your team enthused? asks Phil Parisis Head of Product and Sales at My Business.

As a business owner, a big challenge is motivating your staff and maintaining that positivity well into the year ahead. But with a worsening skills shortage and increasing costs of living – a recent study from recruitment firm Robert Walters found four in five professionals will look for a new job this year if they don’t receive a pay rise – it can seem like an insurmountable task to keep your staff happy and also keep operating costs down.

A common complaint at the moment is how to recruit and retain staff, and it can feel especially daunting when you’re competing against larger corporations and their seemingly endless resources. But maintaining morale and motivation doesn’t have to cost a lot. It’s about being smart and thinking outside the box.

7 non-cash incentives to keep your team’s spirits up in 2023

1. Offer flexible work options

Giving employees more choice over where and how they work helps them balance their lives and shows you trust them to get the job done. Fostering that trust leads to greater job satisfaction and productivity.

2. Say ‘thank you’

It might sound simple, but it can be easily forgotten in the everyday chaos of running a business. Saying thanks is shown to increase productivity by up to 50%. Be specific about what the employee did and the impact that it had to show genuine appreciation.

3. Encourage hobbies

Some large organisations give employees time out from their day-to-day deliverables to work on side projects or passion pursuits. This strategy has been shown to fuel innovation and engagement among employees.

4. Provide development opportunities

Opportunities for employees to be mentored, educated and trained can be just as rewarding as a financial incentive. A focus on career progression helps staff visualise a rewarding future in your business.

5. Give small, targeted rewards

Think of fun perks that don’t cost a lot. Could you recognise high-performing employees with your car space for the week? Perhaps give them your office for the day? Align these rewards with top priorities for the business like nurturing critical clients.

6. Publicise their wins

It feels nice to be recognised. Create a ‘wall of fame’ where you post employees’ achievements and what they did to earn the honour. Use your website, newsletter, social channels and employee meetings to amplify their achievements and encourage others.

7. Offer an extra day off

Consider offering an extra day of paid leave for an employee who is going above and beyond. This could be a day to volunteer for a cause they care about or just an extra annual leave day to use how they like. It’s not a huge cost to your business, but it’s a meaningful and usually much-appreciated gesture.

Business owners could use all of just one of these ideas, but it’s important they consider each employee and which would work best to motivate and inspire them individually. The start of the calendar year is a great time to set new goals alongside your employees and plan how you’re going to achieve them together.

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