During tough economic times, it might be difficult for employers to compensate their employees generously. Stagnant wages can lead to low morale, sluggish productivity, turnover, and a whole host of other issues, so when money is tight, it’s important that managers find ways to keep their employees engaged in the workplace. Luckily, there are several methods for doing so that don’t involve financial compensation. For one, managers should show they have an active interest in their employees' careers and well-being. Employees watch how managers conduct themselves, and creating an environment where employees are valued rather than belittled will go a long way in improving morale. Similar to this idea, employees need to be treated as unique individuals, not warm bodies filling seats. They have their own goals, their own personalities, and their own ways of doing things, and these differences should be celebrated. Training can also go a long way in keeping employees happy and engaged. Well-trained employees are more confident, more productive, and more likely to take pride and find meaning in their work.
Boosting Morale When Money Is Tight