Management Tip of the Day: Money Isn't the Only Motivator for Top Talent

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   TIPS   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   STORE RSS   |   Mobile OCTOBER 12, 2012 Money Isn't the Only Motivator for Top Talent Many managers worry about how to retain top talent without breaking the bank. The good news is that even with the most sought after A-players, research shows non-monetary rewards can be more appealing than high salaries. Here are three things you can provide that often rank equal to or higher than compensation: Flex time. Offer employees flexible arrangements, such as remote work options, staggered hours, or condensed workweeks. Recognition. The best people want to feel appreciated for their hard work. Whether in a private email or a public venue, acknowledge your peoples' good work. A culture that values results, not face time. Set the example: Take time out during the day to go to the gym or see your child's play, and encourage employees to do the same. Today's Management Tip was adapted from the Guide to Persuasive Presentations. Read the full post and join the discussion » Share Today's Tip: FEATURED PRODUCT Producing Prosperity: Why America Needs a Manufacturing Renaissance Ebook Now Available For executives, policymakers, academics, and innovators alike, Producing Prosperity provides the clearest and most compelling account yet of how the American economy lost its competitive edge — and how to get it back. Pisano and Shih provide business leaders with a framework for understanding the links between manufacturing and innovation that will enable them to make better outsourcing decisions. ADVERTISEMENT Follow the Tip: PREVIOUS TIPS Presentation Coming? Know These Things About Your Audience Break the Cycle of Responsiveness Imprecision Can Aid Decision-Making Become a More Valuable Employee Starting a Business? Skip the Plan Make Sure You're Solving the Right Problem Ask Your Critic to Join Your Team Improve Your Presentation in Real Time Know the Culture Before You Accept the Job Debunk the Myths Holding Your Company Back All Previous Tips BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's Must Reads Library Set Guide to Persuasive Presentations Guide to Better Business Writing Guide to Getting the Right Work Done Introducing Mobile ManageMentor Powered by the proven content of Harvard ManageMentor™ iTunes >> Android >> UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2012 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)