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do Without Money

Keeping employees engaged is critical during an economicalal downturn. Here are some smart ways to do it

By Matthew Boyle
In the months after September 11, as backup activity slowed to a crawl, Steve Kerr, then the chief learning officer at Goldman Sachs (GS), launched a leadership seminar for ripened managers that he nicknamed Motivating Without Money. The daylong sessions discussed how Goldmans managers could use nonfinancial incentives to energize their staff. While swell received, the seminar was discontinued when business perked up again a category or so later.
Last fall, however, Goldman brought it back, widening the audience to complicate Goldmans clients. (Its now called Motivating Your People in a contend Environment.) We got more people than I expected, recalls Kerr, now a senior advisor to the bank and author of a new book, pay off Systems. As for why bonus-obsessed Wall Street hotshots would be so receptive to his money isnt everything message, Kerr says: I guess any honor in tough times is valuable.

Low Morale afterwards Layoffs

Hes got that right.



These days, with layoffs rampant and companies slashing budgets across the board to weather the economic downturn, motivating employees to bring their A game to the office every day is harder than ever. According to a survey of nearly 80,000 employees by the Corporate Executive Board, one in every cardinal employees now consider themselves disengaged from their job, compared with one out of ten cobblers last summer. Whats more, two out of three companies surveyed in late 2008 by market research firm Quantum Workplace had lower boilersuit employee engagement scores compared with a year earlier.
Some managers whitethorn feel that unmotivated employees are not a large problem. After all, where are they going to go in this sordid job market? But such an attitude is short-sighted, says Jeff Summer, who leads the U.S. endowment fund management practice at PricewaterhouseCoopers (PWC)....If you want to get a full essay, order it on our website: Orderessay



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