Management Tip of the Day: Money isn't everything

BOSTON, Oct 12 (Reuters) - Managers needing to attract orretain the best talent at a time of tight budgets need to lookbeyond the payroll, since for many workers non-monetary rewardslike flex-time hold a lot of a appeal, says Harvard BusinessReview.

The Management Tip of the Day offers quick, practicalmanagement tips and ideas from Harvard Business Review andHBR.org (). Any opinions expressed are notendorsed by Reuters.

"Many managers worry about how to retain top talent withoutbreaking the bank. The good news is that even with the mostsought after A-players, research shows non-monetary rewards canbe more appealing than high salaries.

Here are three things you can provide that often rank equalto or higher than compensation:

1. Flex time. Offer employees flexible arrangements, such asremote work options, staggered hours, or condensed workweeks.

2. Recognition. The best people want to feel appreciated fortheir hard work. Whether in a private email or a public venue,acknowledge your peoples' good work.

3. A culture that values results, not face time. Set theexample: Take time out during the day to go to the gym or seeyour child's play, and encourage employees to do the same."

- Today's management tip was adapted from "The Guide toPersuasive Presentations."

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