BUT HERE’S THE SECRET THE BEST COMPANIES ALREADY KNOW…
Once you pay people enough for them to appreciate their lives, everything you add to that equation begins to have real impact.
Recognition programs and words of thanks have little meaning if your employees don’t believe you appreciate them enough to make sure they can afford clothing, housing, food and education. You don’t have to directly provide those things, but living wages should allow for them.
To take this a step further, bonus programs have real meaning if they can be used for something special, rather than to catch up on paying debts that have accumulated from everyday expenses. Vesting events and payouts from long-term incentive plans are exciting when the event is about expanding a person’s future rather than simply making up for base pay that was too low to cover essentials.