It is not all about the money. Individuals have a natural urge to develop, learn, and contribute meaningfully to the world. If businesses were wise, they would seek to foster an atmosphere conducive to continual growth. Dan Pink's well-known TED presentation on motivation is one of the most compelling pieces of research on what really inspires workers.
What is the truth? You and your business have a certain amount of influence on employee motivation. Yes, unequal pay may have a detrimental effect on morale. However, when huge wages and other extrinsic incentives are offered, individuals may not always work more or smarter. Why? The majority of us are driven by intrinsic rewards: intriguing, hard work and the prospect of advancement and more responsibility.
17. Company-sponsored events
An offsite event or meeting is one that is held intentionally away from the office. These are ideal for deliberating with the whole team on the company's defining ideals and formulating them concretely â this promotes transparency and cohesiveness.
Employee happiness may benefit a business's financial line by resulting in higher productivity and sales. According to Gallup, organizations with a highly engaged staff are up to 17% more productive and have a 24% lower turnover rate than those with disengaged employees. One of the most effective strategies for motivating and engaging your team is to foster a culture of recognition in which hard effort is recognized and rewarded. It takes just a few seconds to express gratitude to your workers for being a part of your team. You may take it a step further by sending thank you notes or organizing a small gathering to recognize their contributions. Another alternative is to develop an employee appreciation program that is consistent with the culture and values of your organization.
