Motivated workers have a greater attachment to their work which makes them far less likely to depart for a better offer. An employee motivation survey of over 50,000 people discovered that motivated personnel is 87% less likely to leave an organization. A Gallup study revealed sufficient worker motivation in the place of work improves workplace retention. In addition, statistics on workplace motivation states that exceedingly engaged teams lead to 41% less absenteeism and a 17% surge in productivity.
To keep employees motivated and engaged, you need to put in quite a lot of dedication and attention. If your workforce is satisfied with your administrative center, they feel extra motivated to carry out their responsibilities with better performance. And you're more likely to retain the best talent. Enterprises can't obtain favored outcomes without skilled and qualified personnel. Therefore, the employer must motivate their employees to get satisfactory results over an extended duration.
There are numerous strategies that you can opt for in motivating and retaining important employees. Here are a few of them:
- Be a Supportive and Honest Leader – 75% of employees who left their jobs willingly did so because of their bosses and not due to the job itself, say sources from Dejangeorgiev.com. Leadership is one of the prime aspects of worker motivation. Supportive leaders work intently with the personnel. If you believe in your subordinates and pay attention to them, it will increase their focus level. It can even power them to develop new talent. Good and honest leaders ought to serve as employees' role models which makes them motivated to become the same.
- Provide Constant Feedback and Appraisals – Sources say employees whose supervisors constantly acknowledge them for good work can lessen turnover by as much as 31%. Employees desire to receive permanent, distinct, and clear remarks from their managers. Performance appraisals are essential for worker motivation. Higher management and direct managers need to praise workers immediately.
- Render Monetary Compensation – If the workforce is compensated suitably for the job, employees will feel that they are valued. Although cash doesn't serve everything, it stays a key factor of motivation. In fact, Hartford Review stated 35% of people say they will leave their job if they don't get an increment. Companies need to keep in mind that many employers are ready to pay for similar positioning. So it's beneficial to give out incentives together with bonuses and benefits.
- Communicate and Understand Your Employees – It is obvious that rewarding once or twice isn’t a permanent solution. So spend a while trying to understand your employees. If you’re seeking out motivation and reward ideas, then maybe you can conduct a survey. Or directly ask for suggestions like “What motivates you to work for this company?” or “What sort of incentives might you like as a reward?”.
- Bring forth Learning and Development Opportunities – 70% of working individuals would leave their companies for a job that invests in worker development and learning, say sources. The motive of workforce development is to hold a competitive benefit for the corporation. If a worker sees that there may be a long-term plan in the company to provide him an opportunity to advance his career goals, he is more likely to stay in the company for the long term.
- Provide Work-Life Balance and Promote Wellness Programs – According to PR News Wire, 87% of personnel anticipate their company to assist them to strike stability between work and private obligations. Stress, whether or not due to the job or any outside factor, has a vast effect on your employees’ motivation levels. Human resource leaders agree that worker burnout vandalizes personnel retention, manipulating 50% turnover. Encourage your personnel to take care of themselves by organizing active events. The job satisfaction statistics showed that a complete well-being program will assist workers to enhance their lifestyle and make better judgments, resulting in increased motivation and higher work productivity.
- Form Positive Organizational Culture – Organizational management plays a key role in the whole process. Ethics, policies, practices, and conducts form workplace culture. Setting up a positive corporate culture doesn't happen in a day or two. You must work hard enough to achieve this. According to Forbes, an organization with better workplace culture could grow its revenue by 4 times.
- Recognize Individual Efforts – Recognising and rewarding workers for a particular achievement or valued contribution can increase motivation and subsequently improve productivity. Rewards need not be something expensive. They can be as little as leaving a word of appraisal, or a voucher for espresso and a cake. A 5% growth in the worker recognition rate can boom profitability by 25% to 85%, says research by Finextra.
- Involve Employees in Major Processes – According to Harvard Business Review, firms with engaged personnel have been 43% extra productive. Any enterprise that aims to retain personnel must enhance organizational communication. Top management needs to focus on engaging personnel in core decision-making processes rather than keeping them out. Active participation of employees in the decision-making processes needs to be endorsed via various aspects of proposals and feedbacks.
In conclusion, there isn't any unique one for all method for motivating employees, but there are numerous best practices you may pick from based on your company management and culture. Take a careful look through these and progressively enforce the ones that work the best for your company.