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Money is Not the Only Way to Motivate Employees

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Money is Not the Only Way to Motivate Employees

December 13, 2017

By admin

Money is Not the Only Way to Motivate Employees

Happiness and contentment at work is one of the most important factors for work-life quality in the modern workplace. Employees are ‘internal customers’ and HR practitioners have an increased drive to maintain engagement and satisfaction levels. Sure, salary increases, bonuses and promotions maybe well-deserved by some or all of your hard-working staff but it is not the only way to motivate your employees. In fact, if a person is only interested in earning an extra buck you can be sure he or she is not going to be a loyal employee and will always be looking for more money.

Many workplace experts say non-cash, non-promotion rewards have the potential to not only keep your staff’s morale up but also builds loyalty and productivity and motivates them even more.

In a July 2016 survey conducted by Rakuten AIP on Employee Motivation in the Asian Workplace, the top 3 factors causing job Dissatisfaction in Asia’s top economies (CHN, JPN, HKG, TWN, THL, VNM, IND, MAL, SIN) were:

  • Salary is low/not rising (40.1%)
  • Bonus is little/nil (27.7%)
  • Little or no opportunity for personal skill/career development (25.2%)

While the top 3 causes for Satisfaction/Motivation were:

  • Easy/Convenient Commute (35.1%)
  • Nice Workplace Environment (24.6%)
  • Nice Office Atmosphere/Team Relationship/Culture (24.9%)

So, what are these other means or ways? Management experts share a number of Employee Motivation Tactics:

 

Recognition

Something all bosses can do that does not cost anything but means a lot to people is to recognize or acknowledge employees for their contribution to the organization. When your employees accomplish a good result, showing your appreciation that they have done a good job will make them feel that all their efforts were worthwhile and will motivate them to strive to do better. You can praise them through emails, personal letters or praise them publicly in front of their colleagues but personal one-on-one praise is the best way. Cascading affirmation messages across all levels of the organization has a tremendous impact in how an employee gains confidence in their work. Take note that some of the more experienced employees on your team also need to be acknowledged more for their accomplishments and long term contributions to the company.

Trust

Jennifer Hancock, who’s working on a book about humanism in the business world, says trust is also a key factor in strengthening your relationship with your workers. “Trust your employees. Take their advice seriously. Give them some space to do their job and empower them to bring problems to you,” she said. “This approach makes a huge difference in whether or not your employees feel valued.”

Diagram Of Motivation

Listen

Having an open door policy, welcoming questions, suggestions and allowing people to have insight into the decision making process are the signs of a good manager. If employees are comfortable to openly communicate with their manager, it inspires them to deliver their best work.

Responsibility
Encouraging independent responsibility develops independent thinking which can be beneficial to the whole company. This does not mean letting every employee make every decision by themselves. Employees should understand which decisions are theirs to make; which decisions need to be jointly made and which decisions should be passed along to others. Providing clear delegation guidelines, creating roadmaps for professional development and opportunities for employees to request more responsibility is a great motivator. Careful work delegation and good skills matching definitely create a positive ripple effect among employee morale.

Honest Communication
Like in a personal relationship, good communication can cement the relationship. Don’t think you can just manoeuvre good employees. Hancock puts it well when she says: “Be ethical. Be honest. Don’t lie. Be responsible. If you don’t know something, it’s okay to admit it — just make it your responsibility to find out the answer. Don’t say you will do something and then not do it. If you have bad news, share it,” she said.“Your team can’t support you and help you solve problems effectively if you aren’t honest about what’s going on.”

 

It is important to remember that motivators are not the same across the board. One rule of thumb though, every employee’s ‘mojo’ for putting in their best work and staying engaged is affected by interpersonal relationships with people they work with in general.

Good and Happy Work Environment

It is important to create a pleasant work environment and atmosphere because employees spend a large chunk of their lives working in the office. So it should be a friendly, open, trusting, fun and comfortable environment that makes employees eager to go to work every day.

It’s high time you send in your resume to IES, Philippine top executive search firm, today or you can call us at +632-551-1843. IES can help you in your quest for the perfect job.

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