Best Practices General

When Money is Not an Option

Money has always been seen as the best reward a firm would give to their employees for a job well done. Nowadays, this kind of method is not frequently practiced because of the lack of funds as well as for the money-saving efforts of firms.

What’s a manager to do? Relax, Take it easy. Money is not the only thing that could be used as a source of motivation by managers. In the article entitledManagement Style: Three ways to say thanks when raises aren’t an option, it showcased three methods which could help managers when money is not an option as a type of reward for the workers.

I decided to come up with my own guidelines which could somehow give managers an idea on how to manage their team if there is limited resources. Here are some of the things included in my guidelines:Сharity

    The Limited Managing Guide

  • Be resourceful – this is the time wherein a manager needs to maximize their resources and at the same time use anything that would yield favorable results to the team.
  • Do your research – research would be able to save you and the team lots of time in terms of finding out relevant information. It means that a little research and background check of the team members would be able to help the manager find out a common activity that would further develop the working relationship of the team.
  • Use your imagination – the key to reaching out to your team members might not need to be expensive. Use you imagination and let your creative side take-over. The more imaginative and unique, the more chances of making it memorable.
  • Integrate new and old ideas – this kind of approach would certainly make team members at their edge because a combination of these ideas would only mean one thing: effectivity.

These are just some of the guidelines that could help project managers in thinking of ways to motivate their team when the simple solution of financial rewards is not available. These methods would more or less guide PM in their difficult path of cost-saving.

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