Can Employee Motivation improve productivity?
The most important thing to keep in consideration if you want to run your business successfully is job motivation. A leader needs to make sure that their employees stay motivated all the time if they want to get better work results and productivity in the office.
It’s a difficult task to motivate your employees as it requires a unique set of skills and a creative thought process. Nathan Garries, CFP®, EPC®, CIWM®, FCSI®, a well-known financial planner and a unique motivational speaker has spent the last two decades of his career earning the highest credentials available in his industry – in order to help clients prepare for the financial demands of day-to-day life and for the future. Nathan Garries recently became a Fellow of the Canadian Securities Institute.
Here are some reasons how employee motivation improves productivity.
Offer merit-based raises:
“It always seems impossible until it’s done,” said Nelson Mandela.
Well, it’s simple to understand why employees work in a business, for a paycheck. It means that increasing the paycheck will make the employees stay in your business for the long run but make sure to let your employees understand that they earned this increase. When your employees are happy and satisfied in the business then they will work hard to provide better and effective work results.
Also, it demonstrates that your employees are rewarded for their hard work.
A leader does not need an appropriate reason to provide bonuses; it can be for anything like your employees over the top performers or achieving an important target. This will make the employees feel appreciated and recognized in the company and will also motivate them to work hard so that they can provide better work results to earn the bonus.
Promote from within:
Every employee wants to get recognized for their hard and effective work. Well, talking about promotions, it can work as a great motivator for your employees but hiring new employees for a new role can take a lot of time, effort, and money. So, the best option you can try to promote within and it will make sure that your employees stay motivated and provide high-quality work results to get higher-paying and better work position or role.
Set rewards for team-based goals:
As a leader, you need to understand that motivation does not always need to be related to money, nor does it have to be physical. Try to create team-based goals to offer your employees to work in collaboration in a team and achieve the goal effectively to get some type of reward. Team-based goals will keep the employees motivated and also help them in understanding their co-workers.
Also, you can choose the option of monetary reward and provide small bonuses to your employees when they achieve the goals.