Giving salary hikes, promotions and bonuses to the employees at the end of the year is an uncontested trend to show that you recognize their efforts and want them to continue their hard work next year too.
Research indicates that the link between salary and job satisfaction is quite weak. After an extent, the salary does not have the power to motivate an individual.
You will have to readjust your focus on intrinsic motivators for better employee engagement levels.
In this guide you will learn;
・Money can’t buy engagement and actually ends up shrinking the engagement level
・Intrinsic motivators to strongly engage your employees
・Using Total Reward Strategy