The past couple of years has seen an unprecedented shift in business and financial challenges and opportunities on a global scale.  While some western countries experienced serious downturns, many developing countries found their feet, making their fortunes by attracting western businesses to set up base in their country where business costs and labor are so much cheaper. While the wisdom of this is being debated and some governments are actively encouraging their home grown businesses to invest and remain on home soil, the major effect of this outsourcing and taking industry overseas is diminished job and career opportunities at home, which has a demoralizing effect on those who’ve lost their jobs.

Now, as businesses in the major western countries get back on their feet, one of the key factors to their success is not going to be in the number of new products they can invent or manufacture for less than their competition, but from the people who work for them… the employees who drive their business. If a company is to rebuild itself and continue to grow, it must have enthusiastic, productive and committed people and motivating the workforce must become a key strategy in business growth plans. 

Studies show that money alone does not provide long term motivation, because employees have to know the difference between being paid for the job they do as opposed to being rewarded for doing a good job, so with many companies still facing the necessity to watch their spending, here are some examples of motivational programs and options they can consider. (more…)