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Better, cheaper ways to motivate employees

It’s not about the cash, or the mission statement. Use these four tips to keep workers passionate and energised.

Most start-ups don’t have much in the way of cash to pay big salaries and bonuses. They might offer stock options to keep a carrot dangling in front of their key people as they spur them to work every waking hour.

After interviewing about 180 company founders for my forthcoming book, Hungry Start-up Strategy, I have concluded that there is nothing more powerful in motivating a start-up’s people than a mission that they believe in passionately. But when it comes to getting people to do the right things every day, a compelling mission can only go so far.

Beyond that, I have found there are four things that will really help to turn that passion into effective action.

1. Annual reviews aren’t enough.

Most companies hold meetings between managers and employees every year to review how well they did in achieving their previous year’s goals.

…to read this article in full, visit leading US small business resource, Inc.

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