Every small business owner knows that the more motivated your employees are, the better their overall performance will be. However, in today's competitive job market, the expectations of employees regarding performance related incentives are higher than ever. So, how do you know if your current benefits and bonus plans are enough to inspire your staff members? In episode #162, Gene Marks and special guest Kathy Bromage discuss several strategies that small business owners can utilize to motivate their employees.

Executive Summary

1:59—Today's Topic: How Have Traditional Motivational Techniques Changed in Small Business?

2:32—Due to the abundance of job choices right now, employees are more comfortable communicating their expectations and professional goals to their supervisors.

4:27—When it comes to performance reviews, you need to frame your critiques in a positive manner if you want their employees to reach their full potential. Reviews also need to look beyond the quantitative results of an employee's performance and evaluate how these results were actually achieved.

8:50— Supervisors should also be open to feedback from their subordinates.

10:02—Although a bonus system can help motivate your employees to perform better, you as a supervisor need to be prepared to have conversations with your employees regarding any perceived differences between their bonus checks.

14:08—While team building activities and retreats can help build over all morale, the best way to motivate an employee is to provide them with interesting assignments that are important to the company.

17:07—Healthcare is a benefit that will deeply resonate with your employees. Flexibility is another highly motivating incentive.

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Transcript

Gene: Hi everybody, welcome to this episode of The Small Biz Ahead podcast. My name is Gene Marks, here with a very special guest, again actually, Kathy Bromage, Chief Marketing Officer, and Communication Officer here, at The Hartford.

We're talking more about employees, but before we do, we're going to take this quick break from our sponsor.
Our Sponsor
This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability and worker's compensation insurance, check out The Hartford's small business insurance at TheHartford.com.
QUESTION: What Can You Do To Keep Your Employees Motivated?
Gene: All right everybody, we're back. This is Gene, here with Kathy. We're talking about people. We talked in another podcast, about some of your thoughts, and advice on hiring people.

Kathy, for those of you guys that did not listen to that podcast, just a little bit, just again, a quick background, how long have you been at The Hartford, Kathy?

Kathy: Been at The Hartford for 15 years.

Gene: And before that?

Kathy: Oh my gosh.

Gene: A bunch of different places?

Kathy: I spent the first part of my career in finance, both in public accounting, and for major financial services companies.