7 ways to motivate employees and increase productivity
Do you want an efficient business with a high ROI? The first place to start is with your staff. Implementing the right motivation techniques will enhance your employee’s performance. Read on to find out the best ways to motivate employees and increase productivity!
What are the 7 ways to motivate employees?
1) Share Schemes
One way to motivate your staff is through providing incentives such as share schemes. Many of these schemes give the employees the right to buy shares from the company at a predetermined price at a later date.
Often employees must stay within the company for a select interval of time to enjoy the full benefits. For example, Save As You Earn (SAYE) participants must remain in the business for a term of three to five years. As a result, this scheme may also help reduce levels of employee turnover.
SAYE participants often save for things like a holiday or even towards purchasing a home. A monthly salary deduction is put aside until the end of their term. The money can then be used to buy shares and be sold right away to make a risk-free profit. Alternatively, participants can take back their savings.
Zoe Denny-Thomas, Head of Member Services at ProShare, explained, “Share plans can give employees the opportunity to own a part of the company they work for. Owners are more likely to feel to be invested in the company’s success because of potential financial gains.”
2) In-house training
One of the best methods of motivating employees in an organisation is to empower them to succeed. A lack of career progression is the top reason why your staff are not motivated. So don’t be afraid to train your team and help them form a career plan.
The most cost-effective way of training your staff is through in-house training. For example, you can customise a course to fit your business goals and train multiple employees at once. Some businesses opt for a monthly voucher offering unlimited courses.
3) Equality and inclusion
Discrimination and exclusion are still fundamental issues in the workplace today. Initially, employees may be attracted to a position which makes claims of ‘equality and inclusion’. However, if there is no follow-through, subsequent employee motivation and productivity could be depleted. Ultimately, this can result in the loss of staff.
How can you ensure you are creating an inclusive business? Well, it goes a step beyond mission statements. ‘Equal opportunities’ isn’t merely something to write on a job advert – it must be put into practice. Consider the kind of culture you are creating. Do you have an environment in which your employees are at liberty to share their concerns with you?
“Who is in the room when really big decisions are being made? Male, pale and stale? You’ve got a diversity problem." - Ayesha Hazarika, former political advisor turned columnist, broadcaster and comedian at the International Women’s Day 2018
Perks are a great way to motivate and retain employees. You could offer incentives that focus on fitness as this is known to enhance productivity. These could be access to an on-site gym, health care or a cycle to work scheme.
Other incentives could be team-building activities or individual reward schemes such as Perkbox. Some companies offer birthdays off, provide free breakfast or let their employees go home early on Fridays.
Bonuses are another motivational technique used in many organisations. Setting up a bonus system could be an excellent way to drive productivity (particularly for competitive types). Bonuses may encourage staff to reach their goals daily.
Note that recent research by Yoon Jik Cho and James Perry shows that monetary rewards may not necessarily be the best way to motivate staff. Ultimately, they suggest that employees who are primarily focused on money are less engaged with their jobs.
However, if you do take this route, we recommend making quantitative targets and ensure that your staff understand these objectives. Secondly, check-in with your team to make sure you are setting achievable goals. If employees are struggling, consider supporting their development with further training, or lower their targets to be more achievable.
According to a recent survey by Reward Gateway, nearly half of all employee respondents would choose to leave a company if they didn’t receive frequent recognition. As such, credit should be one of the go-to steps to motivate employees.
As an employer, how can you motivate your staff through recognition? Start with the small things. For example, verbally thanking them for their time and highlighting their achievements. From there, you move to increased responsibility, training and career progression.
Creating the right atmosphere is an essential step to motivate employees in every workplace. If your employees do not feel at ease at work, you will struggle to motivate them. What components make a great atmosphere?
Simply rearranging the office’s layout could boost employee productivity and enhance profits. Try a lick of paint, tidying things up or adding an area for colleagues to socialise. Many factors that cause a project to fail, including a lack of motivation within a team.
Why not consider team-building exercises to reinforce a positive atmosphere? Corporate activities that enhance the ‘team spirit’ don’t have to be boring; there are many fun ways to build relationships such as escape rooms or outdoor forest activities such as Go Ape.
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