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It could all be so simple

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Try and up perks if you can, like lunches and team bonding etc. a team that likes each other and gets along well can make it through tough times. It also helps just to know the boss understands!
Have undocumented conversations letting each of them know you do not support OT and weekend work. You want to see each of them do meeting free Friday’s - no exception, make it work. You want to see each of them log off at the end of the day. You will do brief weekly status meetings with each of your team members to go over the work and see how you can help off load anything. Use the time to discuss what’s a priority and what can wait. Teach your teams to bill their work properly. Make sure they are billing all of their time and their OT and their weekend work so you can show the company leaders proof of burn out. If teams continue to put in the time to do the work, why would their be any incentive for the CEO to keep hiring? You need proof of low morale. Timesheets, emails, things slipping through the cracks.
Time Management & the App Calm
I put a dropbox up and asked people to write what motivates them and what kind of appreciation they like. We reviewed the submissions every week and together selected what we would focus on. Of course, some of the submissions were ridiculous like increased pay or hire more people. Obviously if I was able to do that it would’ve already been done. But I did get some submissions that were really good ideas and actually doable. When I put the dropbox up, I explained to everyone what we were looking for to make sure everyone understood what we actually had the ability of doing. I do also spend some of my own money. I know a lot of people are against that but I want to take care of my people, however, I can.
Thank you so much! This a fantastic idea!
Identify a perk/s they will value or help them solve a problem. One of the best and easiest to implement I have seen are when leaders do something time bound, low cost and rewarding like Summertime Fridays. This could include different ways of working on that day that support productivity. It is also handy to mix it up from the rest of the week (or year) such as minimising meetings and if possible set a few days where the team all finish a bit earlier than usual (instead of lunch for instance)…
Increase their pay
Would if I could. But the CEO keeps the checkbook under lock & key.
Ask them. Share what you observe. Do an anonymous survey and ask some closed and open ended Qs. Then action around what they need. Listening will go a long way. Good luck 🍀
Subject Expert
Write a hand written card to each one and include a small $15 Starbucks/Coffee gift card and mail it to them telling them how much you appreciate them and see their work.
Showing gratitude doesn’t need to be an outlandish, extravagant display. If I got a card from my boss I’d be touched.
Would love to take them to lunch, drinks, bowling, etc. But there are logistical problems
2 team mates work remotely from the other side of the county. I could do something with the in state team members, but I don't want the other 2 to feel left out.
When we were remote even locally we set up an Uber Eats Corporate account. You can send a voucher for a certain amount to each employee and they can order their lunch and take care of anything above the amount. Then we would eat together over zoom. Not the same as in person, but it was a nice touch. Of course, that only works if everyone can get Uber eats. I was in a rural area once when this happened and I requested expense reimbursement instead the voucher and they obliged.
I implemented team activities during our bi-weekly team meetings. It has made a huge impact on team bonding and allows for some fun during the work day.
When high-volume initiatives stretch us too thin, I utilize our inter office communicator to share funny stories, send gifs, or strike up a group conversation. My team is 100% remote and the opportunity to connect during stressful situations allows everyone a little opportunity to relax. Being supportive and providing opportunity for an occasional escape from the grind will help tremendously. I hope this helps.
In my experience, an overworked employee/team does not want to be rewarded with a pizza party, or something equivalent to one. They want monetary rewards, and to feel appreciated for all of their hard work. I would strongly consider bonuses! Or gift cards. The whole team can benefit from that, even the remote members.
The best thing you can give them is information. They need to see a light at the end of the tunnel.
I would create team wide days off or a company wide day off to give them rest. Also, have your leadership teams emphasize the importance of work/life balance.
Focus on what you can control (giving breaks, giving props/shout-outs to those that have performed great achievements) and less on what you can't.
You are doing what you need to do right now - you are thinking about it! :)
What works best depends on the team and culture, but my two cents as a remote worker: if I’m already overworked and not appropriately compensated, I don’t want to go to a virtual happy hour or party or anything. I want $ or a $ equivalent that reduces my expenses or reduces the time I need to spend on other things. Uber Eats/Doordash gift cards or even Visa gift cards people can spend on whatever would be the best things. That way I could buy food or buy myself a massage- whatever I want.