A Happy Staff is a Productive Staff: How to Motivate Employees: A companys employees are one of its most valuable assets, and managing them can be one of the most important—yet challenging—tasks required of a small to large businesses. Best results to be attentive to how motivated, productive, and satisfied their employees are, because all of these things can impact the companys bottom line. However, theories abound for how to increase staff productivity and job satisfaction, and some small to mid-size businesses may be discouraged by thinking that they do not have enough money or resources to adequately meet the needs of their employees. On the contrary, many employee motivation and recognition strategies require little to no financial investment, and may be simply a matter of adjusting management practices. Others require some investment, but that is often returned by boosting the companys productivity and, consequently, bottom line. Invest in compensation packages: One of the most traditional and commonly used tactics for increasing employee satisfaction and retention is ramping up compensation packages. This can involve raises, bonuses, or enhanced benefits such as matching 401(k) contributions, transportation reimbursement, health insurance, and vacation days. The win-win incentive strategy: Benefits do not always have to be expensive—in fact, some may actually help a business increase its profit margins. For example, incentives such as flexible work schedules and telecommuting can improve worker satisfaction by improving an employees work-life balance, making employees feel happier and more productive. This is an especially attractive setup for workers that have small children at home. At the same time as making employees happier, telecommuting and flexible work schedules can reduce overhead costs by limiting the amount of energy, supplies and office space needed. If a company offers transportation reimbursements, this can also eliminate some costs. All work and no play: Another way to increase employee motivation and job satisfaction is to make investments in corporate culture. This can be as simple as recognizing employees on their birthday or instituting monthly cocktail hours, or can be as involved as creating a company softball team or putting an entertainment-filled break room in the office. Whichever level of involvement is chosen, employees will likely appreciate the attention being paid to their job satisfaction, a factor which will often be seen in their productivity and performance. In addition, corporate outings and events that aim to improve corporate culture can enhance collaboration by facilitating bonding between employees, which can thereby increase overall company productivity and competitiveness. Corporate culture measures can also impact employee productivity and satisfaction on an additional level—tactics such as company sports teams, fitness incentives, and even company-wide fitness events such as participating in a charity run can improve employee health as well as facilitate corporate bonding. After all, healthy employees are not just happier employees—they tend to have fewer sick days and can be more focused. Be a cheerleader: Encouraging high performance can sometimes be as simple as rewarding it. Programs such as employee-of-the-month or other initiatives that recognize and reward high-performing employees not only make the worker feel more satisfied with his or her job, but they also set an example for other employees and encourage them to work harder. Listen up: Some employee motivation and morale programs require no investments whatsoever. Many small to mid-size businesses, faced with less money for formal incentive and recognition programs, have simply increased their communication with employees. More face time with workers can make them feel more comfortable approaching bosses and managers with problems, which will not only increase their job satisfaction but can also cut down on errors. Being upfront and honest with employees has become even more crucial during tough economic times, as employees that are worried about their job safety can be distracted, unproductive, and not entirely committed to their work. They may also search for other employment on the side—and even leave the job if another offer comes in—if they feel their job is threatened. Happy employees: Whatever the strategy, small business owners are encouraged to pay attention to the happiness, well-being, and motivation of their staff. Productive and satisfied employees represent more than just good management practices—they are a crucial element to a successful business. By: Intuit
Posted on: Sat, 17 Jan 2015 00:24:50 +0000