It was reported a couple of years back by Gallup that America had lost around $450- $550 billion dollars in productivity due to the lack of employee motivation. Thus, providing only a adequate paycheck won’t work anymore in a society which is increasingly becoming more complex and nuanced. Apart from an employee’s financial needs, the company has to care for his/ her other needs as well which will directly and indirectly boost productivity for the company.
Douglas A. Grady says that it’s important to be cognizant of the motivation behind employee actions and use those results to motivate them further. Motivated employees deal with uncertainty better, are more customer and company centric, are more profitable and it all results in increase of employee retention rates. But before working on employee motivation, it is important to know what kind of employees you have. Employees can be classified into three categories:
- Connected: These are the employees who feel a connection and drive towards their company. They are motivated and drive the company forward.
- Disconnected: They don’t put in time or energy into the development of the company and are essentially burned out and lethargic towards work.
- Actively disconnected: These employees aren’t happy at work and they spread their unhappiness and discontentment other employees.
Regardless of categories, it is also generally found that employees at some point in their careers with the company had felt demotivated and detached. But there are some methods to correct this as well:
- Attention: It is important for managers and other higher position members to pay attention to employee grievances and not just ones which are actively brought to light by the employees. Managers should be on the lookout for unvoiced concerns or changes in employee behavior which should ideally be addressed.
- Trust: It’s important to build up trust between the company and its employees. Employees do wonder at times- what they are doing and why they are even doing it, so it’s important to align the employee motivation with the company’s vision. Team building activities like outings, a stress free work environment and more can work wonders.
- Perks: It is viable for a company to give employees more perks and festive bonuses since it results in increased productivity during rush times. Doling out perks even during times when overall revenue is low actually fosters loyalty and makes the employees think that the company values them more. It’s a viable long term strategy.
- Stress busting routine: The work day shouldn’t ideally consist of work- lunch- work schedule and even if it is, employees should be given the freedom to stretch out their legs and play some games. This is why installing gyms, foosball tables, basketball courts aid in stress busting and also build camaraderie among employees and management alike.
Thus, there is a simple equation to be followed according to Douglas A. Grady– the more employees are motivated, the better it is for the company since it boosts business in the long run through various channels.