know when times are tough. It doesn’t take a rocket scientist to explain to
your staff if your sales numbers are stagnant or dropping month after month. It
doesn’t mean the bottom is falling out, but it could mean that adjustments need
to be made.
times, for example, pay raises may go away.
There just isn’t the extra profit coming in to justify giving your folks
an annual increase. But that doesn’t
mean you can’t still reward them.
from People 1st indicates that enrolling employees in training and
development programs is an effective way to engage them and make them feel valued
during times of austerity. In fact, their research says close to two-thirds of
employees feel valued when offered training by the company. That keeps good
employees on board, an important factor in your long-term success. It also
keeps productivity higher, since an engaged employee is one who offers ideas
and tactics that may be the new breakthrough sales technique.
It's easy to find a
good source of training and development. ESA’s National Training School (NTS) offers a
wide range of classes for industry professionals. It’s a win-win situation: companies
reap the benefits of a well-trained, highly engaged workforce, and employees
build their job skills and increase their value to the company – in addition to
getting a healthy dose of self-esteem and morale.
The two most
popular alternative rewards when pay raises aren’t feasible are extra days off
and career development, according to People 1st. Keep them in mind as you move through
2012. If it’s a great year, you can
still provide those additional incentives.
But if it’s a less-than-stellar year, extra training might make all the
difference in keeping your employees focused and motivated.