Unemployment rates are hovering near record lows. While that’s good news for the economy, it’s not great news for businesses that need to hire. The reason why is that if you need to acquire an employee to fill a gap in your company, pickings are slim and those that do apply to your openings have a ton of leverage since most applicants have multiple backup options.
Given those hiring qualms, retaining good employees in today’s market is paramount. The best way to retain good employees? Keep them motivated!
Motivation is a key contributor to a variety of workplace benefits that go well beyond retention. Below, we discuss why you should want to keep your team motivated and also break down a handful of ways that you can start boosting your having motivated employees efforts:
What Are the Benefits of Having Motivated Employees?
Having motivated employees means having people on your team that are driven to do a great job. That drive leads to a handful of outstanding things.
First, a motivated employee is an employee that’s focused on working hard for you. That focus means better productivity and more return on your payroll investment.
Second, an employee that’s motivated is usually one that’s invested in your company. Invested employees are trying to maximize their current employment situation rather than trying to seek out new employment pastures. Given how much money it costs to find and hire new people, that’s a huge benefit for your business.
Finally, employees that are motivated are generally happier. Happier people are healthier and more willing to make positive contributions to your workplace’s culture which can make your business a better place to work for everyone.
How Can You Effectively Motivate Employees?
Now that we’ve sold you on some of the broad stroke benefits that having motivated employees provides, let’s get into specifics on how you can motivate your team.
There are a lot of different ways that you can achieve your motivational ambitions. Below are a few low-hanging ideas to get started:
- Praise a Job Well Done
In a perfect world, a person would do something good, know it and not need any validation to feel good about what they’ve accomplished. Unfortunately, we don’t live in a perfect world.
The team members that bust their butts for you will eventually stop busting their butts if they feel like their hard work is going unnoticed. So, do your business a favor and make an effort to let your hard workers know that you appreciate their hard work.
Showing appreciation can be as simple as pulling a good employee aside and letting them know that you love what they’re doing. You could also have a more formal appreciation mechanism like having monthly/annual ceremonies where you hand out these corporate awards.
- Let Them Get Creatively Involved
When people can’t see themselves in their work, it’s hard to get excited. That’s why businesses that treat their employees like cogs generally have an unhappy team. You can easily motivate your team by ditching the cog structure and instead, moving to a place where your team can help shape the direction of their workplace.
Hold regular meetings where you can source ideas from team members. Have suggestion boxes out where team members can anonymously share tips on how things can be improved based on their observations.
Nobody knows your business more than the people that work for you. Being proactive about mining their creativity will not only make them feel more valued but may also have a positive impact on your day-to-day operations.
- Create a Culture of Openness
Having a vertical business structure when it comes to feedback is an important aspect of fostering goodwill with your team. If one of your employees has a complaint, they should always feel comfortable about bringing it to your attention. This may mean circumventing their manager if they feel that their direct superior doesn’t support them.
Everybody should feel comfortable talking to anyone in your business. Nobody should be seen as out of reach since you’re all collectively working together to make your business run as effectively as possible.
- Care About More Than Your Employee’s Work Performance
We understand that a lot of experts advise against being friends with your employees. For obvious reasons, having a friendship can complicate some of the business moves that you might need to make. Still, if you treat your employee solely as a subordinate/commodity, they’re not going to feel good.
In our opinion, taking the time to do simple things like congratulate your employees on out of work achievements or asking about their kids can go a long way in creating a positive, productive and motivated work environment.
- Raise Compensation
While everything that we’ve mentioned above are great ways to foster a more motivated employee culture, nothing gets people to take their jobs more seriously than a pay bump. If you can afford to reward hard work with more pay, do it. At the end of the day, few gestures mean more to your team than a bigger paycheck.
Motivated employees are happy people that are capable of making you happy by increasing your business’s productivity. By following our tips, we think that you’ll be able to get that chain of events in motion so go out and try our suggestions during your next work week. If you do, you’ll be shocked by the results that you’ll see!
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