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Rally the Troops

Morale building on the cheap; hiring a manager
Troops
Chris Lyons

Q: Our small company wasn't able to give raises or bonuses this year, and we're looking for ways to boost morale without spending a lot of money.—Paul Brockmeyer, Chicago

A: That's a perennial question, but one even more entrepreneurs grapple with during an economic downturn. You may not be able to give bonuses, but you do want to make sure everyone who works for you feels appreciated. "It is much more about recognizing the good job an employee does than about the raise or bonus," says Ross Zimmerman, co-founder of Exequity, an executive compensation company in Libertyville, Ill.