#38 JooBee's newsletter

TL;DR

šŸ”± How to motivate your people when raises arenā€™t an option

āš“ Beyond salary: What do your people want?

ā“ Your views on Career Anchors

This newsletter edition is brought to you by Payfit (brunch & learn) šŸ’›

You can now ā€˜LISTENā€™ to the newsletter

Iā€™ve used GoogleNotebookLM to turn my newsletter into audioā€”for those of you who love listening on the go. Presented by two AI podcasters (yes, really!), itā€™s still in betaā€”so let me know what you think!

Question: Weā€™re balancing a tight runway, struggling to hit revenue targets, and need to either reach cash flow positive or secure our next funding round. With limited salary increases, how can we keep our team engaged and motivated?

Founder

How to motivate your people when raises arenā€™t an option

Right now, many founders are stuck between a rock and a hard placeā€”balancing short-term survival with long-term business success. If youā€™ve exhausted every possible way to increase compensation and itā€™s still just not an option, then itā€™s time to shift focus.

What else can you offer besides money thatā€™s valuable to your employees?

Short-term pay vs. long-term career growth

Salary increases are a short-term win, but careers are long-term investments. If you canā€™t meet your teamā€™s immediate financial needs, at least invest in something that compounds over timeā€”their future value.

Think of knowledge, skills and experience as an investment portfolio. If someone invests in skills, experiences or working with people they enjoy, they may not see the payoff today. But over time, these assets can lead to career progression, greater confidence and higher earning potential.

ā

Just like financial investment, career investments donā€™t always show immediate returns. But they multiply in value over time.

So, if a pay rise isnā€™t possible today, donā€™t stand still. Focus on what you can provide to help them grow.

Know what drives your people

As I write this newsletter, Iā€™m reminded of my early days as an assistant lecturer. Every year, first-year business school students tackled the same question in their Organisational Behaviour assignment:

"People do not come to work just for money. Discuss."

The task was to explore motivation beyond financial rewards.

With over 1,000 students submitting essays, at least 6 of us assistant lecturers marked themā€”something I did for 3 years. Like many, I wondered at the time: ā€œDoes anyone actually apply what they study at university?ā€ 

Fast forward 20 years, after serving as both a Chief People Officer and a manager of teams, I wish I could go back and tell those students: This is one of the most crucial things you need to understand if you want to lead peopleā€”what truly motivates them.

Different people, different career motivations

Career motivators vary from person to person. While there are many, Iā€™ll highlight three examples here. 

1ļøāƒ£ Motivator: Creativity 

Some people thrive on innovation and original thinking. They get a rush from breaking new ground, solving complex problems and experimenting.

šŸ’” Business needs x individual motivation: If you're exploring AI integrations or bold marketing strategies, get them involved. Give them opportunities to experiment and create. šŸ“ˆThis fuels their passion while also building their long-term career reputation as an innovatorā€”which, in time, translates to higher demand (and compensation) for their skills.

2ļøāƒ£ Motivator: Influence 

These individuals are motivated by responsibility and impact. They want to integrate teams, mobilise people and take ownership of total results.

šŸ’” Business needs x individual motivation: Your business likely needs better systems to scaleā€”from stronger processes, improved cross-functional collaboration and operational efficiency. Give them the responsibility to lead these initiatives. šŸ“ˆThis not only drives business results but also sharpens their leadership skills, making them invaluable for future leadership-level roles.

3ļøāƒ£ Motivator: Affiliation 

For some, work is about relationships, trust and community. They find fulfilment in strong team bonds and a sense of belonging.

šŸ’” Business needs x individual motivation: If your business is operating in silos and you need to strengthen workplace collaborationā€”through cross-functional projects or initiatives that bring teams togetherā€“involve them! This not only keeps them engagedā€”even when financial rewards are limitedā€”but also helps them build a strong professional network, improve communication skills and develop cross-functional expertise. šŸ“ˆThese are invaluable assets for career growth, opening doors to leadership roles and broader career opportunities. 

These are just 3 examples of motivatorsā€”there are many more. To help you and your team identify what drives them. Check out the Career Anchor tool below that you can use to uncover their key career motivators.

When people see a future, they stay.

If salary increases are off the table, you need to shift from short-term incentives to long-term career investments. Identify what motivates your team and create opportunities for them to invest in their future.

And when you eventually can offer higher compensation, theyā€™ll still be thereā€”more skilled, more motivated and ready to drive the business another step forward.

Career anchor

Use this tool to uncover what truly drives your team in their careers.

šŸ‘‡ The second article below shares how an engineering leader leveraged it to identify his teamā€™s key motivators and guide them in making strategic career investments.

Beyond salary: What do your people want?

I had the chance to work with William Di Pasquale, an engineering leader who was one of the most curious and proactive Iā€™ve metā€”always looking for ways to support his teamā€™s growth. He regularly booked 1:1s with me and my team, eager to learn new techniques.

One day, he asked, "What is Career Anchors?"

Heā€™d been browsing our HR teamā€™s page and noticed our ā€œ[Name] in 60 Secondsā€ profiles, each with a section on Career Anchors. When I explained that Career Anchors reveal what someone values mostā€”their non-negotiable motivator, even in tough career decisionsā€”he was intrigued.

Hereā€™s an example of the 60-Second profile he was referring to šŸ˜…

"Why did you get your team to do that?" he asked.

"So their managers and I know what truly drives them," I told him. "Not just to assign the right work, but to shape their career paths. When people do what energises them, they perform betterā€”and feel more fulfilled."

The shift in his approach 

A few weeks later, William came back, eyes wide with amazement.

"JooBee, none of my team had ā€˜material rewardā€™ as their top anchor."

Before the Career Anchor exercise, his team kept pushing for promotions and pay raises. But once they completed it, most had ā€˜Expertiseā€™ as their top motivatorā€”along with other motivators.

"So, what did you do?" I asked.

He told me he changed how he approached performance and development conversations. Instead of defaulting to promotions or salary increases, he dug deeperā€”trying to understand what was really driving the request.

"When someone asks for a promotion or more pay, I put on my curiosity hat. Whatā€™s behind the request? Is it a need for recognition of expertise? Struggles with influence? A change in life circumstances? Appreciation of creativity?

"I donā€™t dismiss material rewardsā€”if someone truly needs a higher salary due to life changes, thatā€™s valid. But if the real driver is recognition or career growth, a pay increase alone wonā€™t solve the issue. In fact, it might lead to even more dissatisfaction down the line. So my goal is to understand what theyā€™re really seekingā€”and help them get there in a way thatā€™s meaningful and sustainable."

How managers can use Career Anchors to unlock performance & growth

To help your team perform at their best, use Career Anchors to uncover what truly drives them:

1ļøāƒ£ Have your team take the Career Anchor assessment
Ask your team to complete a Career Anchor assessment. It reveals what they value mostā€”expertise, autonomy, meaning, security, status, or something else.

2ļøāƒ£ Use it in 1:1 conversations
Tailor coaching based on their motivators:

  • Influence: What kind of impact do you want to have? How can you take on more responsibility for driving change?

  • Meaning: What type of work makes you feel fulfilled? How can we connect your role to a bigger purpose?

  • Expertise: What skills do you want to master? How can you position yourself as a go-to expert in your field?

  • Creativity: What challenges excite you the most? How can we give you more opportunities to experiment and innovate?

  • Affiliation: What kind of work environment helps you thrive? How can we strengthen team connections and collaboration for you?

  • Autonomy: In what areas would you like more decision-making power? How can we structure your role to give you more ownership?

  • Security: What does job stability mean to you? How can we support your long-term career progression within the company?

  • Status: What type of recognition motivates you? How can we showcase your achievements in a way that aligns with your career goals?

  • Material rewards: What does financial success mean to you? Beyond salary, what benefits or incentives would make you feel valued?

3ļøāƒ£ Align work to what energises them
People perform best when engaged. Adjust responsibilities to match their motivatorsā€”give an expertise-driven person complex problems to solve, or involve an influence-driven employee in cross-functional initiatives.

4ļøāƒ£ Look beyond promotions & salary
If someone keeps pushing for pay or promotions, dig deeper. Money is rarely the sole motivatorā€”itā€™s often a means to an endā€”is it security? Recognition of expertise? Growth in status? Once you understand their why, you can shape career development in a way that truly matters to them.

When you understand what truly motivates your team, you can help them grow in a way that fuels both their success and your businessā€™s performanceā€“and set them up for a well-earned next step in their progression.

Give Career Anchors a try. You might be surprised by what really drives your team.

William Di Pasquale

šŸ’”A word from William:

ā€œItā€™s been years since I first learned about Career Anchors. Do I still use it? Thereā€™s no one-size-fits-all answer. Itā€™s a conversation framework, and it works best with employees who engage in structured discussions and are open to a bit of self-exploration.

When I sense that a team member might respond well to the Career Anchors approach, I first gauge their curiosity. At its core, it's just a tool to facilitate a meaningful conversation. 

What really matters is building trustā€”creating a space where we can have an honest discussion about what theyā€™re seeking, especially when it comes to material rewards. The goal isnā€™t just to talkā€”itā€™s to truly understand their motivations and help them achieve what they actually want.ā€

What do you thinkā“

From the Career Anchor assessment, whatā€™s your top Career Anchor?

Login or Subscribe to participate in polls.

Need support to build your start-up to scale?

Here are 3 ways I can help you:

šŸ”— LinkedIn | šŸŒŽ JooBeeā€™s blog | šŸ¤ Work with me