According to business psychologist Chambers, there are other ways to improve the employee experience, aside from compensation, the potential for progress, and autonomy. Managers ought to look at every employee as someone unique.

“Firstly, consider the power of recognition and appreciation, both formal and informal, for contributions both big and small,” he explained to Bored Panda via email.

“Flexibility is an increasingly important factor, so flexible working policies can promote trust and balance. Supporting your people to find meaning in their work can be beneficial, as can providing relevant training and upskilling,” Chambers said.

“Clear communication is valued, and the ability to feel included through feedback and input can increase motivation, and access to wellbeing can promote positive engagement in other aspects of work.”

According to the business psychologist, it is possible to have a healthy work-life balance without employees feeling like they need to disengage or practice quiet quitting. 

“Setting and communicating realistic boundaries creates space to work efficiently, prioritizes tasks, ensures urgent and important tasks get the attention and progress needed, and allows space for regular breaks and less overtime,” the founder of Male Allies UK and Essentialise Workplace Wellbeing said.

“Time management techniques can be effective for some people to give structure, and this also opens opportunities for flexibility in other areas. Minimizing distraction can improve output and provide more time for personal commitments and practicing self-care, leaving you with a balance that won't be perfect, but it will leave you with the opportunity to perform well both at work and outside of it.”

According to Chambers, the key to finding an effective work-life balance is being proactive and strategic.

Most entrepreneurs obviously want their businesses to be profitable, attract talented and capable people, and make an impact on the world. However, they need to know how to motivate their workforce. It’s not something that happens on its own. And it’s too important of a question to leave it up to chance.

Good managers know when to be proactive, not just reactive, when it comes to motivating their subordinates. They also know to look at what drives each individual person to excel. Even if they're considered 'problematic.'

If your employees feel demotivated, burned out, and disappointed with your company’s culture and overall strategy, you’re in a pickle. They’ll check out. They’ll either scrape by doing the absolute bare minimum or they’ll look for better opportunities elsewhere.

They might jump ship and sign up with your competitors if you’re not careful. But before you start coming up with elaborate schemes to boost everyone’s morale, make sure that you’ve got the basics right.

The basics are pretty straightforward. Make sure that you’re paying your staff an adequate wage. In these economically bizarre times, you want your people to know that they’re financially secure.

But a good wage isn’t enough. What motivates many people is a sense of growth and development.

That’s why it’s vital for your staff’s wages to grow annually, and based on their results. That way, you’ll avoid creating an atmosphere of stagnation. And, on top of that, you’ll help your employees feel properly rewarded, and able to outpace inflation. Or, at the very least, keep their purchasing power at a decent level.

Next, consider what sorts of other opportunities for growth you’re offering your workers. Are you investing in their futures? What sort of skill training or courses do you offer? What do the career opportunities look like at your company?