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I have a project that can't be done except by our current employee, They are loaded with the daily work. For me to be able to finish on time I need a daily certain contribution from them at least4 hours after working hours to be able to complete on time. I reserved an remunerated that double and half of the normal rate of over time. But still I can't encourage them to come as scheduled. and to be more specific we made the scheduled together, so I wouldn't be realistic.
Money is not the main motivator to all people. I suggest that you understand what motivates each of those people and work on satisfying them so they participate effectively to complete your project.
Conceptually, I don't recommend this approach to effective project management. It is advaisable to ensure availability of resources before starting the project.
People would work the extra mile if you creat a work culture that is healthy , my staff wanted to work across the hour for me because the knew that is will eventually pay for the team to start with and then for the individuals .
Money is not always a factor for employee or subordinate to work overtime, just a simple emphasis on the importance of getting it done and perhaps an assurance that later all efforts will be rewarded or commended is enough, but again this is on a case to case basis.
some times money is not a factor which demotivates people or employees i think you should get to route problem.
Some people dont work overtime as family is prirority for such people you should have a schedule or understand when they can contribute or fill the gap.
Some people want recognizition so assure them along with discussion from management they get some recognizition after putting extra efforts.
Motivate them as team as it will surely reflect during appraisals as short benefits sometimes are ignored infront of long term benefits so that thought has to be put across amongst team members.
This way you will surely get contirbutions from many of them if not all.