Beyond The Paycheck: Motivate Employees with Creative Compensation
As an independent retailer, you are missing a true strategic opportunity if your only employee compensation is handing them a periodic paycheck. Creative compensation, using means other than money, has proven to be a highly successful motivating force from which both management and employees will benefit.
And in many instances, thoughtful compensation plans can reduce employee turnover, which saves significant expenses of recruiting, hiring, and training of new staff.
Consider the many ways in which your employees can be compensated. By answering some basic, preliminary questions, a compensation play can be tailored to meet the individual needs of a company and its most valuable asset—its employees.