When it comes to job satisfaction and having a sense of achievement, being happy in their work rates higher with employees than financial reward (see article by Glen Llopis in Forbes).
Factors such as knowing that they contribute and make a difference, being part of a team, being appreciated, being involved, having a good working relationship with their boss, creating an impact, feeling trusted, being given opportunities for career development and feeling valued are motivating factors that tend to rate higher with employees in terms of job satisfaction than money.
Yes, sure, if someone is given a raise or promotion then the additional income is great; it is an acknowledgement of work well done. However, the ‘adrenalin rush’ tends to be replaced quite soon by further need for achievement and recognition, and a need to feel fulfilled and so other motivating factors take over.
Business owners and Managers, what are some of the factors that have motivated you in your career? We are including some tips below that will help to motivate your teams. These pointers might sound like common sense to most people but you would be surprised how many managers neglect to take heed of them.
Make sure your employees know what the Company Purpose, Vision and Business Goals are. This will help to ensure that they know where they are going and that they are ‘on-board’.
Don’t presume that they have the tools they need. Talk to them! Offer them training and support and equipment if needed.
Hold regular team and individual meetings. Ask your team questions to make sure they understand your goals, objectives and expectations. Give regular feedback, both positive and constructive. Ensure that your feedback is specific, is based on their performance or behaviour and is based on fact. Tell them what was good/not so good, the impact and outcomes of their actions on the team and on you. If you are disappointed or upset, tell them so and also let them know what standard you require for the future. Ask for their input to problem-solving and their commitment to ensure it is successful in future.
Make sure to get ‘buy in’ from your team. Include them in the planning process and ask for their input and ideas. In this way they will value the business and have a vested interest. Agree goals with them. You will empower and motivate employees by giving them both the responsibility and authority for certain areas/tasks as long as they are within their capabilities. If people aren’t given appropriate authority, it can erode their confidence and self-esteem.
Give feedback as much as possible. Positive feedback should be given right away to encourage more good performance. Similarly timely constructive feedback should be given to ensure improvement. Public acknowledgement of an employee’s contribution to success is invaluable but a ‘put down’ of an employee in front of their colleagues will not be well received - by anyone!
Trust and respect your team and if an issue arises, make sure to examine all of the circumstances and then make a decision about what to do. If you make a mistake or an error of judgement, put your hand up and admit you were wrong. Employees will appreciate your honesty.
Be consistent in your treatment of team members, try to be consistent in your decisions, and in what you say and do as a Leader/Manager.
By giving employees autonomy in their roles it allows them to see that they are in direct control of the goals they are working toward, ensuring they have value and a direct influence on success.
No matter of what kind of business you are in, it has been shown that incentivizing employees is beneficial to motivation. Agree targets and acknowledge and reward when they are achieved.
If employees feel valued they will be less likely to leave and more motivated to try better at what they do; to achieve more. Recognition, praise, and special incentives will help raise the value of work to employees.