Try these four twists on your employee motivation strategy to go beyond a bold mission statement and inspire your employees to grind it out harder every day.
Peter Cohan, founder of Peter Cohan & Associates, writes in Inc. that since “most startups don’t have much in the way of cash to pay big salaries and bonuses,” these companies need a different employee motivation strategy than the almighty dollar. Cohan says that “there is nothing more powerful in motivating a startup’s people than a mission that they believe in passionately,” but for the daily grind, he believes that startups need an extra employee motivation strategy to “turn that passion into effective action.”
Cohan lists four methods for motivation, including setting individual goals for the coming year, handing out rewards immediately for hitting goals and deadlines, activating social awards for achieving goals, and ditching the cheesy corporate swag like coffee mugs that nobody really likes. “There’s no substitute for a powerful mission statement,” Cohan says, but these four extra steps in your employee motivation strategy “can advance your startup ahead of the competition.”