Date: 02/01/2009
Motivating employees is going to be more difficult in 2009, the Chartered Institute of Personnel and Development (CIPD) warns.
It states that job cuts and the perception of smaller, if any, pay rises, mean bosses will have to work harder to keep their staff stimulated.
They will have to find new ways of encouraging people to perform better, reward adviser Charles Cotton explains.
Firms could use schemes such as team building events, recognition programmes and employee incentives to keep staff enthused about their jobs.
"Targeting pay increases to reward superior performance, making intelligent use of non-financial rewards and targeted investment in training and development are all ways in which companies can make limited budgets go further," Mr Cotton states.
Not only will this help firms weather the economic difficulties, they could find themselves ready to capitalise fully on recovery of the financial situation, he explains.
Another expert has also recently warned that motivating employees is more difficult during the credit crunch.
Corporate coach Nathan Jamail urged leaders to continue to develop their staff and challenge them to overcome difficulties.
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