Motivation Without Money

When an organization decides to hit a set target such as improving sales, developing a new product to suit market needs, or meet the deadline of a project, they always marshal the ingenuity of team members who possess the requisite skills to accomplish the set target. Many managers will offer their team financial bonuses as a way of motivating them to do an excellent job. Initially, money is used as an incentive tool; nevertheless, as time goes by the money that is given might end up crippling production, eat into the profits generated by the organization which eventually affects the proper running of the organization. The primary goal of motivating employees without money is enabling them to start seeing the bigger picture beyond motivation based on monetary incentive (John, 2017).

Entrepreneurs should learn that what employees want is intrinsic motivation like acknowledging their hard work, work times that are flexible, and advancement and growth. Managers who want to motivative their team should use some of the tools that are highlighted in the following paragraphs before thinking of giving financial rewards to their employees. One of the motivational tools is competition. Competition serves as an effective way of motivating employees and teems without provision of financial incentives (John, 2017). Acknowledging performance of employees evokes bragging rights that awaken the power needed to increase performance. Competition can be held between teams or even between individuals. Two years ago, Alya pozin who happens to be the founder of Pluto TV realized that he lacked the skills of an entrepreneur who can motivate employees.

He resolved to hire a CEO Josh who had 12 years’ experience in the corporate world. Even though he knew that Josh was an accomplished CEO he was still doubtful at first. The company was going through a period of hardship and Pozin thought it was not possible to boost the morale of workers due to lack of cash. Pozin was, however, wrong because Josh together with the team leaders he put in charge was able to transform the company’s culture by creating a hardworking team that was in resonance with organization mission and core values (Pozin 2017). John R. (September 12, 2017). 10 Tips to motivate Employees Without Resorting to Money. Entrepreneur and Connector. Retrieved from https://www. A right way to motivate an employee is to win his heart.