There are several reasons why employee motivation is important. Mainly because it allows management to improve employee performance to meet the company’s goals. Without a motivated workplace, companies could be placed in a very risky position.
Schaufenbuel says that by understanding the reasoning behind employees’ actions and using those results to employee motivation, you can improve business performance.
In addition to being more highly engaged, motivated employees, handle uncertainty more easily; are better problem-solvers; have higher levels of innovation, creativity, and customer-centricity; are more profitable; create higher levels of customer satisfaction, and increase employee retention rates.
Motivated employees can lead to increased productivity and allow an organization to achieve higher levels of output. Imagine having an employee who is not motivated at work. They will probably use the time at their desks surfing the internet for personal pleasure or even looking for another job. This is a waste of your time and resources.
Here are some ways to personalize rewards to individuals based on their preferences and goals:
Besides the monetary incentives, there are certain non-financial incentives which can satisfy the ego and self- actualization needs of employees. Non-monetary rewards like praise and recognition can also bolster engagement levels. For many disengaged workers, non-monetary motivations, such as a simple “thank you” can be as important as a tiny bonus. Many employees are also happy to return the praise for companies that treat them well. When it comes to employee happiness, sometimes the things that come to mind cost money: increased salary, bonuses, paid lunches, birthday gifts, paid company outings, etc. But there are non-monetary ways to keep employees happy and they improve employee motivation.
Employee Recognition Improves Morale
When it comes to employee recognition, tangible rewards still carry the most weight. Employee motivation and morale are the glue that holds your company together. It’s a crucial part of any organization and should be a top concern on your priorities list. With low morale, nearly every aspect of an employee’s contributions will suffer. High morale, on the other hand, tends to inspire greater productivity, creativity, and overall satisfaction.
Employee Assistance Adds Balance
Many employers offer rewards and incentives through employee assistance programs that improve employee motivation. These programs help workers maintain a balance between work and home life by supporting workers’ mental and physical well-being. For example, many programs provide counseling services to help cope with stress, family issues, and substance abuse.
Employee assistance programs also offer discounts to join fitness centers to encourage an active and healthy lifestyle. Some programs help working parents find daycare and other activities for their children. The purpose of these programs is to support workers with their home responsibilities so they can remain focused on their jobs while they are at work. Small businesses can contract with an employee assistance firm to provide the services that workers need.
In Conclusion, There are just a sampling of the types of rewards that can be offered to the employee population. And when the right incentives are coupled with great benefits plan design, employers will see improve employee performance at the workplace.