According to a recent survey, about 37 percent of employees said they would favor extra time off to keep them motivated if a year-end cash bonus wasn't an option. Twenty one percent said a simple "thank you" would be an ample motivator, and 15 percent said that they would favor a holiday bash.
The remaining 26 percent felt there was nothing that could be done to motivate them at year-end. Nine percent felt that their companies did a fine job keeping them motivated during the recession, whereas 17 percent stated nothing could turn their low spirits around.
The survey from TopGrading Solutions consisted of workers in the retail technology, payment solutions, and supply chain procurement and planning industries.
Dave Camp, executive recruiter for Retail Technology at TopGrading Solutions, said in a statement that increasing employee spirits becomes more crucial as the recession comes to its tail-end. He pointed out that the company's last poll showed that nearly 50 percent of respondents were looking to leave their current employer due to mistreatment during the recession.
"Either a day off or a simple card showing your gratitude could be enough to bring the team back together in time to embrace and conquer 2010," said Mr. Camp. "Otherwise, as the economy improves, managers may face a retention nightmare.”
Discussion Questions: What is the best way to motivate employees if raises and cash bonuses aren't an option at year end? Can you come up with some more innovative ways to reward employees?