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Pay Raise Alternatives to Keep Employees Motivated

Pay Raise Alternatives to Keep Employees Motivated

Source: PRNewswire

NEW YORK, May 14 /PRNewswire/ — Today, many employees have been laid off, let go, fired, right-sized or whatever the new economic recession has deemed them. Work loads are doubling, hours are getting longer and less work is getting done because morale is in the toilet. It couldn’t get any worse … but then an employee says that she or he would like to have a pay raise because they are doing the work of three employees and haven’t had a pay raise in two years.

Scan recent online news and search for “getting a pay raise.” The majority of articles provided details for an employee to get the pay raise they deserve. It’s safe to say that everyone deserves a pay raise — especially those who are still employed. But budgets won’t allow it, bosses won’t allow it, stockholders won’t allow it, and, let’s face it, if managers can’t get a pay raise, employees certainly aren’t going to get a pay raise.

So what can be done when a company can’t give a pay raise but a consultant/employee has been dedicated since the onslaught of layoffs began?

Below are six pay raise alternatives that have worked for many business managers.