Singapore
Singapore
Monetary incentives are undoubtedly the best way to motivate employees who have done well. But in times when the economy isn’t doing too well, and you don’t have the luxury of dolling out bonuses, what can you do?
One way to increase employee morale is to make them feel vital to the company and to you. By creating a conducive working environment where workers feel appreciated, this can help produce a similar (and less costly) effect of monetary incentives. So read on for tips on how you can go about this.
It is a basic need of human nature: everyone desires recognition for a job well done. So when employees perform well or achieve targets that you have set for them, don’t hesitate to commend them on their good performance. It costs nothing but can mean everything!
The key here is to inspire your staff and build up their confidence with achievable goals. When setting targets, set them at possible success rates of between 55% and 75%, and involve your employees in the process as much as possible. This empowers your workers and gives them a sense that they have a say in the company’s growth.
By rewarding exceptional workers with leadership roles, it not only shows that you recognise their talents and efforts, it also helps you to identify capable staff that you can promote in the future.
If budget constraints prevent you from offering job promotions, speak to your employee informing him or her that these additional responsibilities are an acknowledgment of their ability to take on more, and that they will be rewarded accordingly when the company situation improves.
Like the captain of a ship, to get your staff to help steer your company to where you want it to go, you need to ensure that everyone knows the direction to take and how to get there.
Go ahead and share the ‘big picture’ with your employees, how they fit in the scheme of things, your hopes and concerns for the company. After all, sharing makes them feel like they too have a stake in the success of the business.
The worst you can do is to lie to your employees and to have them distrust you. Always be open and honest with them, even (or especially) when it comes to the relaying of bad news. Present the facts and they will understand.
Workers may fall ill or be forced to take a leave of absence to attend to family/personal matters from time to time. Be understanding and give them the time and space they need. At the same time make the necessary preparations to ensure that your business continues to run smoothly.
When you are compassionate to your staff, they will be more than happy to return the favour when you need them to.
Regardless of the nature of work, all employees want to be a part of an organisation that offers growth prospects. After all, no one likes to be stuck doing the same job for too long a duration.
Assure your workers that their development matters to you and outline different career paths that they can take. Plus, always make it a first option to promote from within the organisation before looking outside.
There are plenty of resources available online offering tips on motivating your staff. One such resource is the Think Big Think Canon website. In SME Features, there are several articles giving you tips on managing employees, while you can also learn the secrets of top entrepreneurs in the Success Stories interview series.
Canon’s Think Big entrepreneur seminars are also a great way to learn about employee management. Featuring a panel of renowned entrepreneurs, participants to previous seminars picked up invaluable tips and ideas on starting and running a business. Stay tuned to this website for more information on upcoming seminars.
The true challenge in motivating your staff comes in finding out what works for your employees. Spend some time learning about their different personalities, motivations, aspirations and fears. By showing your employees how much you care for them, they will in turn reciprocate by putting their best foot forward for the company.