EP #214: 5 Things to Give Your Employees (other than a raise)
Do this before you give your employees a raise:
Give them something that will make them feel fulfillment and get better in the process.
A lot of business leaders and their companies try to attract top talent and retain who they have with financial incentives and bonuses. These things are fleeting - especially a results-based bonus.
It’s better for people to experience a sense of ownership and joy in the process.
There are a lot of intangible things you can give people. I came up with a short list of things that should exist even before a raise is earned.
This is a great start but there are plenty of other things. What else would you add?
Have a generous day.
What You'll Learn in Today's Episode:
Why you can’t just give your people money
Why talent wants fulfillment more than anything
How a compliment can be uncomfortable yet powerful thing
Why you should not compliment results
About variables you cannot control
How you can throw people’s experience off
About the ease of giving a compliment
About catching people in the act of doing well
Why agency is important
How agency is a leadership tool
Why partnership is powerful
The many results partnership yields
How communication can help you through any situation
About the importance of space in business
Why people need to be able to take risks and make mistakes
Why higher expectations require more space
How leaders think they are incapable of giving
What you should give first
Why in office experiences are most important
Why I support business travel
About my experience with new events at my former employer
Quotes Worth Sharing:
“Talent is not attracted by the monetary value.” - Bob DePasquale
“They ain’t gunna stick around.” - Bob DePasquale talking about attracting people with bonuses
“A compliment must be genuine.” - Bob DePasquale
“A compliment can highlight the wrong activity.” - Bob DePasquale
“Have a competition of who will put forth the effort.’” - Bob DePasquale
“It does not have to be tangible gift wrapped a box.” - Bob DePasquale
“What if you had a say in developing the orders?” - Bob DePasquale
“You want your employees working together and collaborating with each other.” - Bob DePasquale
“How much of a wasted experience would it be if you didn’t get better as you work?” - Bob DePasquale quoting himself
“I’m no marriage counselor...” - Bob DePasquale
“You’ve gotta be prepared for the wrong things to happen.” - Bob DePasquale
“This isn’t turning a blind eye or blind trust with your employees.” - Bob DePasquale
“There’s a difference between space and disregard.” - Bob DePasquale
“If they feel squeezed, they’re not going to expand their horizons.” - Bob DePasquale
“If you feel uncomfortable giving them more space, perhaps you should not have those higher expectations.” - Bob DePasquale
“Ultimately, don’t remember exactly what you say.” - Bob DePasquale
“Employees or customers need memorable experiences so that your brand is top of mind.” - Bob DePasquale
“Are you dedicating certain time during the week to innovation.” - Bob DePasquale
“I would send people to events as much as you can.” - Bob DePasquale
Resources From Today's Episode:
My LinkedIn carousel related to this topic
My Book - Personal Finance in a Public World
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