As countless studies have shown, there is more to work than money. As strange as this might sound, this is something that a lot of research has shown; employees are motivated by a lot of things, and money is quite far down the list.
As the title of today’s post might have suggested, we are going to take a look at some of the other ways which can motivate employees. With some sources suggesting that revenue can increase by as much as half with a motivated workforce, it stands to reason that this is a hugely important subject for business leaders to get their heads around.
The importance of recognition
It sounds basic, but let’s start with the premise of recognition. Whether it’s simply complimenting an employee on their work, or handing out physical employee awards, making an individual feel as though their work is valued is something that is especially important in modern-day business.
Recognition doesn’t have to just exist in some businesses either. For example, the sales industry was commonly associated with recognition, usually with leader boards and cash incentives. Nowadays, rewards are commonplace in every industry, and tailored accordingly.
In fact, some companies will even have recognition stand-ups. This involves a department naming a person who has contributed a lot over the past few weeks, or days, depending on the pace of the industry you are involved in.
Understand that each employee is different
This is something that a lot of companies, and people for that matter, fail to grasp. Just because some forms of motivation work for some workers, doesn’t mean to say that they are going to work for others.
For example, something that might be important to one worker might be flexible hours. Another, on the other hand, might have his or her mind fixed purely on professional development. As such, these employees would react completely differently depending on the reward on offer.
The open door policy
Something else that has been proven to act as a motivator in the modern-day business world is simple manners. That’s right, if senior management address their workers in the same way in which they do everyone else, it immediately makes all feel as though they have a voice worth listening to.
Give everyone a purpose
Another key motivator is every employee having a purpose. One of the big problems that a lot of employees have is that they don’t feel as though they fit into a business. In their eyes, their role is small and this means that they don’t feel as though they have a purpose in the company.
This is something that you need to change. Each employee needs to understand that their role, regardless of how small it is, has an impact on the business. Some companies will educate them by showing them figures from their area of the business, and how this corresponds to the total turnover. If employees can learn to understand their role, they can immediately feel as though they have a purpose with their job.