HOW TO KEEP YOUR STAR EMPLOYEE MOTIVATED WHEN YOU CAN’T OFFER A RAISE OR PROMOTION

It’s basically like new year’s in the office, ready to wrap up one quarter or year, and excited to begin a new one! But before we can move onto the fresh and new, it’s important to reflect on the past. It’s performance review time and as a Manager it can be a lot more complicated of a process when you think about your star performers. As Author Kat Boogaard emphasizes: “You want to reward the high-performing employees on your team that you know deserve to be recognized with a pay raise or a boost up the ladder. There’s only one problem: You don’t have the budget or resources to make that happen right now.”

So what do you do? Boogard continues in her article with a few tips for managers in this situation:

Get Candid With Your Direct Reports

Not being able to give an employee what they want can inspire feelings of guilt and shame. However, it’s important that you maintain a certain level of transparency with the people who work for you.

“I try very hard to be honest with my direct reports,” explains Lauren McCullough, Senior Director of Marketing here at The Muse, “There are often larger factors that contribute to not being able to offer a raise or a promotion, and these are sometimes things that my employees may not be aware of. I try to share and explain the broader context—without revealing anything confidential.”

Let’s face it—the fact that you’re not using those standard methods to recognize your team’s high-achievers isn’t going to slip by unnoticed. It’s far better to address that with them head on, so you don’t leave them feeling cheated or even doubtful of their own performance.

 

For the rest of these tips and ways you can still provide an effective performance review, read the full Article written by Kat Boogaard, from www.themuse.com 

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