No matter how much effort you put into improving your business, if your employees are not motivated to work, it will not be efficient. Many employees will do the minimum amount of work that they need to do unless they really enjoy their work or see that there is some sort of incentive. That doesn’t mean you have to spend more money or increase their pay. Here are five ways according to realbusinessrescue.co.uk to increase their productivity and motivation.
1) Offer bonuses for hardwork: employees like to know that their hard work is appreciated and the best way to show that is through some type of bonus. Most employers and business owners instantly think about cash bonus and then worry about their finances but you could offer non-monetary bonuses. Consider extra time off, vouchers for meals or child care or a gift from the business.
2) Offer praise and recognition: like a bonus, this method shows the employee that you are thankful for their hard work. This could be recognition of an achievement in a meeting, praise in the company newsletter or you could opt for an employee of the month style award. Some employees will be embarrassed by this, depending on the amount of recognition they gain, so you will need to find something that benefits the majority.
3) Offer extra training for promotions: training is never over but many employers often slack in this area. Training benefits employees in many ways, including understanding their strengths more, knowing that you want them to do more work and increasing the chances of promotion. You may want to talk to your employees – or have a manager do it – to find out where they believe they would benefit in training or would like to know more about.
4) Go over their career options: one way of showing recognition is to show that there is the chance of promotion. That means going over the career options available. This is a strong motivator as employees realize that they can further their position in the company and that you want that for them. They also build and understanding of everything they need to do to get to where they want to be. Make sure you follow through with promotions when possible to show that the career options are a real possibility.
5) Organize social gatherings: When people know you on a more personal level, they are often more willing to work harder. They see that there is a face behind the company name and that you do care about the business; more than just money. Organize social gatherings every now and then to talk to your employees outside of work, whether a company BBQ, a Christmas social or a monthly night out.
Increasing productivity involves motivating your employees. The best way to do that is offer incentives but these don’t need to be financial ones. Show that you do care about your employees by giving them career paths to focus on and reward them for their hard work.
Keith Tully has written many business articles for RealBusinessRescue. Over the past year, she has written on topics including tax, HMRC, director liability and tips for avoiding insolvency. Real Business Rescue is a team of Insolvency Practitioners offering professional advice for businesses struggling with financial difficulties.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.