Greetings!

Here we are at Strategy 9 of Eleven - Find a mix of nonmonetary rewards (HR Magazine; 1/2011; RGrossman)

Generally speaking, most people would say they are motivated by money but what I am seeing and this article clearly outlines is that nonmonetary items are becoming more important to employees. 

Paid time off, vacations, flexible schedules and a secure place to work are becoming more important.  We know ourselves, we are juggling a great deal in our lives.  We need to work but we are raising families, or taking care of elderly parents and need such time off.  Money alone is not enough.

The many things in past newsletters explained how to make changes in your workplace that make a difference.  Offering open expressions regarding work policies and conditions; accepting regular feedback from all employees as to their needs and how they feel they could do their jobs better and then responding to them.  Allowing meetings that are open forums for discussion.  Focusing on employee relations.  Seeing all levels of employees as "partners" rather than subordinates. 

Offering public rewards, newsletter recognition, email notices highlighting successes of individuals and teams.  Senior management spending time with rank and file, coffee hours, open forums also work well.  Just think of the impact of a senior leader asking employees to lunch. This is particularly important to do for those "high potential" people you want to keep in your organization for succession planning.