No matter how much business owners want to reward their employees, many leaders just don’t have the financial resources to give out much-deserved raises and bonuses.
According to Todd Patkin, a CEO turned author, you don’t need to spend a cent to show your people you care about them and appreciate their hard work.
“People will never admit it, but money is not the thing they desire most from their work. Instead, showing appreciation, respect, and, yes, even love are the three most important ways to make your people feel great about their work,” says Patkin. “And happy, engaged employees are the single best way to impact your company’s bottom line.”
Patkin grew up in Needham, Mass., where he grew his family business before selling it to Advance Auto Parts in 2005. He is author of the book Finding Happiness: One Man’s Quest to Beat Depression and Anxiety and — Finally — Let the Sunshine In.
“As a leader, I quickly found that if my team was content and their work environment was a positive one, they would be more engaged and motivated, and they would truly care about our organization’s future,” he explains.
On the other hand, Patkin adds, if your employees are perpetually stressed out, they’ll be less motivated and more disengaged. And when they’re unhappy, they’ll do only what they must to avoid chastisement and you’ll lose money in the long term. Also, when the economy turns around, they’ll be more likely to look for a new job elsewhere.
Patkin offers five show-the-love strategies that you can use without spending a cent:
Send “love” notes. Writing and sending a thank-you note is standard practice when you receive a gift. And what is great work other than a gift from your people to you? When you notice that an individual has done an excellent job or has achieved an important goal, send a specific handwritten (not typed) note conveying your most sincere appreciation and admiration. This will take only one sheet of paper and five minutes out of your day … but it’ll make a lasting impression on your employee.
Distribute inspiration. Buoying your team’s spirits should be one of your daily goals. “If you run across a quotation or story that inspires you, don’t keep it to yourself — pass it along to an employee, and perhaps, if appropriate, also mention that the quote or anecdote reminded you of him and his great attitude,” suggests Patkin. “Alternatively, you might consider sending out a quote or lesson of the day. Yes, the idea might sound hokey at first, but I firmly believe that most people vastly underestimate the power of feeding their minds with inspirational and educational material.”
Tell success stories. Even if they brush off praise or downplay their achievements, everybody loves to be recognized and complimented. When someone in your organization has done something great, tell her that you noticed her outstanding work, and tell the rest of the team, too. Remember to always praise in public as ‘loudly as possible,’ and conversely, criticize only in private.
Identify stars. Identifying stars is taking the concept behind telling success stories to the next level. Sure, some team members will roll their eyes at “Employee of the Week/Month” programs, but you can rest assured that no one is going to turn down this honor. “Instead of singling out just one person, you might even consider recognizing multiple individuals every month,” Patkin suggests.
Make it a family affair. Whenever possible, engage your employees’ families when praising them. Having a leader validate all the hours each team member spends at work will be remembered far longer than a bonus. Plus, when spouses and kids know what Mom or Dad does at work and are “on board” with it, your employee’s performance will be buoyed by support from the ones he or she loves the most.
“For example, if an employee did something really tremendous, I would call his home, generally trying to get the answering machine and not a person,” Patkin shares. “Then I’d leave a voicemail like this one:
“Hi, (name of spouse and kids), this is Todd Patkin from Autopart International where your husband and dad works. I just want to tell you that your husband and dad is the most incredible, wonderful, amazing person in the whole world. He just broke our Nashua, New Hampshire, store’s all-time sales record. Guys, that is incredible!! So, please, kids, do me a favor. When your dad comes home tonight, everyone run up and give him a huge hug and tell him how proud you are of him and how great he is. And, (name of spouse), I hope you too will give him a big hug and a wonderful kiss to make sure he knows how much you love him and how much he is appreciated for all he’s doing for our company. Thanks, guys.
“And in fact, years later, many employees whose families received these phone calls told me that although they didn’t remember how much their bonus checks were for that year, that extra-special homecoming was still clearly etched in their memories.”
“Trust me, showing people love, appreciation, and respect trump money just about every time when it comes to building long-term motivation and boosting employee morale and loyalty,” concludes Patkin. “When you take the time to make your employees feel valued, they’ll know that you care about them on a more personal level, and they’ll be much happier at work. And in the end, when you’ve achieved a really positive atmosphere at work and the improved bottom line that will surely come from it, you’ll feel amazing too.”
