Most businesses credit their success to the brilliant employees they have at their disposal. These employees are the lifeblood of the operations of any business. This is the reason why most of the successful businesses in the world take employee retention and happiness very seriously. In fact, these businesses even invest in the development and training of their people thinking that this will provide more success in the future. If you have a business, increase its success by hiring competent people, investing in them, and by creating a business environment suited to motivate them. If you believe in the theory stating that a happy employee is a productive employee, then explore new ways to make them happy.
- Know your employees personally. One of the most basic and most effective employee motivation techniques that an owner or manager can utilize is by getting to know each and every employee in the organization. Learn and use their first names while working with them. Listen to them when they talk about their background and problems. This will give you an idea on how to motivate them to excel more in their field. Drive and motivation is different for each individual. Know your employees to know how to motivate them. In addition, employees will love a boss that knows how to communicate and mingle with the peasants, so to speak.
- Use incentives and rewards. People strive to excel most effectively when there is goal or reward. Develop some incentives and reward systems for employees that reach a specified goal approved by management. Monetary incentives such as commissions and bonuses are probably the best to use however, do not limit everything to money. Try using other stuff like the latest gadget, an LCD TV, a new laptop, or a free vacation package. Employees love these kinds of stuff. This will help nurture excellence in your company while ensuring that they stay. Make sure to vary your incentives dependent on the economic situation and trends.
- Develop bonding and fun activities. It is important for employees to understand that there is a time to work and there is a time for play. A business that works all the time can create stress build up within each employee. This can explode later on, which may lead to unwanted resignations. To avoid this, mix some pleasure with business. Develop and schedule some regular team building activities that focus on employee relationships and pure fun. This can create an environment of relaxation and play. Some companies even treat their employees to trips abroad or a weekend party getaway after a particular intensive work schedule. A good boss believes that people need relaxation and fun once in awhile. It is just a way to release stress. Make sure you join in the fun. Employees will appreciate that.
- Implement a profit sharing scheme. Employees will almost always be happy with more money earned. This means that money is still the best motivation for employees. If you really want to ensure that your employee stays in your company for a long time, then all you have to do is share the wealth. People will greatly appreciate a company and employers that share the company’s profit. This is a way for management to show its appreciation to each and every employee’s dedication and hard work.
Any business that is dependent on its workers will definitely be more productive when each worker is happy and working toward a mutually rewarding goal. Know and appreciate your employees by saying their name every time you greet them, giving them incentives and playtime, and by sharing your wealth with them.