Employees want nurturing and life skills, not bonuses
SALT LAKE CITY — The business manager of Cubes Self Storage, Rick Beal, says he was dissatisfied with his company’s culture. So, he decided to change it, one employee at a time.
Beal says the storage industry has a reputation of being one of the lowest jobs an employee can seek, so it’s always been difficult to hire people with a solid work background. Instead of ‘living with the best of the worst candidates,” Beal helps his staff learn life and business skills.
As a motivational speaker, Beal asks his audiences, “what motivates you to do your best work?” He says the top 19 answers range from praise to feeling good about doing a job to the best of their ability. Money, or salary, was usually the 20th answer given to his question. So, Beal made a bold move and eliminated the structured bonus system at Cubes Self Storage.
That’s not to say Beal doesn’t hand out bonuses to his employees, but the extra pay is based on what life skills his employees learn. When they open their first bank account, learn how to present a business proposal, read a book by Dave Ramsey or Stephen Covey, or learn how to effectively delegate, his employees are rewarded financially.
But the financial rewards don’t end with his staff members. Beal says the efficiency of his company, which encompasses much of the Western United States, has grown two-fold. And Beal says profits increased 2.7% since he started implementing tasks which improve his staff’s self esteem and financial stability.
Beal says many of his workers have gone on to higher paying jobs and have learned how to start saving for their retirement. Sometimes he helps employees when they are stranded at the side of the road or helps them move, but says there is nothing better than seeing someone grow beyond what they thought was possible given where they started in life.