Viewpoint Non-monetary levers to enhance employee engagement in organizations –“GREAT” model of motivation during the Covid-19 crisis Swaminathan Mani and Mridula Mishra Introduction Companies have used several monetary levers such as attractive salaries, increments, generous bonuses and stock options to keep their employees engaged in their jobs. These benefits are tangible and quantifiable and therefore easier for HR managers to communicate, with the staff, on the superior benefits these offer. However, the world has changed during the past three months, since January 2020. The pace of change has caught everyone unaware. Almost all countries are affected by Covid-19 in varying degrees – some significantly more than the others – while almost all the countries are already feeling the business impact of Covid-19. Impact felt across industries Health care is stretched to the limits; industries such as automotive, pharma, hi-tech and others that are dependent on China for their supply chain needs have slowed down significantly. Travel (airlines) and tourism industries have stalled, and the ripple effect of reduced customer spend is being felt across industries such as retail (few shoppers at the malls), manufacturing, financial services and insurance (higher outflows due to claims). World economy likely to slip into recession Pundits forecast that most economies around the world will slip into recession in the near term, resulting in bankruptcies and significant job losses, as companies will struggle to manage cash flows. Massive infusion of funds by the governments is expected to revive the economy; however, the lead time for full scale recovery is likely to take 3–4 quarters (approximately 12 months). Shift focus to non-monetary levers to enhance motivation These uncertainties – stalling growth prospects, slow recovery and volatile business environment – have created tremendous anxiety among employees. The morale is low, understandably so, when threat of job loss looms at the horizon. However, the pall and gloom cannot be allowed to “consume” the workforce. The employees still need to deliver superior results consistently to keep the business going. This is the right moment for HR managers to step in to boost the motivation of the workforce. Swaminathan Mani and Mridula Mishra both are based at Mittal School of Business, Lovely Professional University, Phagwara, India. No funding was received for this paper. DOI 10.1108/SHR-04-2020-0028 © Emerald Publishing Limited, ISSN 1475-4398 j STRATEGIC HR REVIEW j