As organizations large and small face the twin challenges of increasingly strained budgets and burned out workforces, what can managers do to keep employees engaged — without breaking the bank? In this piece, the authors share new research on the power of symbolic awards such as thank you notes, public recognition, and certificates. They find that these simple interventions can significantly improve employee motivation, but clarify that to maximize their effect, it’s essential to customize these rewards to your unique context. Specifically, the authors draw on prior research to highlight five key considerations for managers looking to implement symbolic awards: the most impactful messenger, the best timing, whether to make it private or public, attention to detail, and the importance of starting small. While these interventions are no substitute for fair monetary compensation, especially when cash is limited, symbolic awards can go a long way to demonstrate your appreciation for your employees and keep spirits high.
As we enter into the second year of the Covid-19 pandemic, frontline public sector workers such as healthcare professionals, teachers, and social workers are under more strain than ever. At the same time, organizations in every industry are being forced to downsize and restructure, meaning they’ve got less cash in the bank to support an increasingly burned out workforce. In these trying times, what can managers do to keep their employees motivated?
