This article is a continuation of the last week’s posting on accountability.
A study at MIT showed that monetary incentives are great for routine, mechanical work. But how does it play when talking about cognitive, advanced tasks? Not well at all. Watch this super cool animation and get a better understanding on how the labor force will react in 5 to 10 years.
A very common myth of the past was that the best way to motivate an employee is through monetary rewards. The truth is that money can be a good motivator if it is applied in context with other factors. Money alone never works. Sooner or later they will be back for more and if you don’t have it or want to give it to them someone else always has deeper pockets than you. Motivating employee performance involves a number of factors.
The main by-product of motivation is to create enough goodwill so the employee performs to their optimum ability; thereby optimizing the overall productivity of an organization. Here are some factors, in no particular order, that have proven to work wonders:
1. Personal appreciation – a warm personal ‘thank you for a job well done’ can go a very long way in motivating an employee to put in his best. For best results, ensure that you do this with utmost sincerity and at exactly the right time.
2. Acknowledge efforts in public – a good way to motivate all employees is to acknowledge in public the achievement of every employee who does a good job. This instills pride in the employee who is praised in public and makes others wish to be in his shoes.
3. Provide Conducive work environment – promote an open and friendly work culture. Crush gossip, bullying, politicking, ‘groupism’ and all such factors that interfere with the work atmosphere. Your employees should look forward to come to work, not hate it.
4. Performance appraisal – people need to know what they are doing right and what they are doing wrong. Set up performance appraisals at regular intervals and let employees know where they can improve and what they are doing well.
5. Appropriate reward – a good worker should always be rewarded so she feels valued and important. Whether this is with a personal ‘thank you’ card, or a special incentive, or a raise – rewards should not only be given, but also these need to be tailored it gives the employee the most joy.
6. Encourage dialogue – set up an open-door policy where anyone who wants to say something can walk up to you and say it. Make people comfortable talking to you, bringing their suggestions, feedback, demands and worries to you directly. And listen.
7. Down delegate authority – employees work best when they feel trusted with authority and added responsibilities. Down delegate authority and abstain from micro-managing so the employee is empowered in their role.
8. Participatory decision-making – leaving certain policy matters aside, the best is to have your employees participate in all decision-making processes. In this way, they would feel ownership in the company and would work better.
9. Celebrate together – celebrate together every milestone of the company or team. Let them build that feeling of “all are for one and one is for all”. Everyone wants to be part of something, use that to help motivate your team.
10. Encourage family-time – putting in long hours in the work place does not mean enhanced productivity. Encourage people to go home in time; to enjoy quality time with their families; to attain a balance between home and work.
The main by-product of motivation is to create enough goodwill so the employee performs to their optimum ability; thereby optimizing the overall productivity of an organization. Here are some factors, in no particular order, that have proven to work wonders:
1. Personal appreciation – a warm personal ‘thank you for a job well done’ can go a very long way in motivating an employee to put in his best. For best results, ensure that you do this with utmost sincerity and at exactly the right time.
2. Acknowledge efforts in public – a good way to motivate all employees is to acknowledge in public the achievement of every employee who does a good job. This instills pride in the employee who is praised in public and makes others wish to be in his shoes.
3. Provide Conducive work environment – promote an open and friendly work culture. Crush gossip, bullying, politicking, ‘groupism’ and all such factors that interfere with the work atmosphere. Your employees should look forward to come to work, not hate it.
4. Performance appraisal – people need to know what they are doing right and what they are doing wrong. Set up performance appraisals at regular intervals and let employees know where they can improve and what they are doing well.
5. Appropriate reward – a good worker should always be rewarded so she feels valued and important. Whether this is with a personal ‘thank you’ card, or a special incentive, or a raise – rewards should not only be given, but also these need to be tailored it gives the employee the most joy.
6. Encourage dialogue – set up an open-door policy where anyone who wants to say something can walk up to you and say it. Make people comfortable talking to you, bringing their suggestions, feedback, demands and worries to you directly. And listen.
7. Down delegate authority – employees work best when they feel trusted with authority and added responsibilities. Down delegate authority and abstain from micro-managing so the employee is empowered in their role.
8. Participatory decision-making – leaving certain policy matters aside, the best is to have your employees participate in all decision-making processes. In this way, they would feel ownership in the company and would work better.
9. Celebrate together – celebrate together every milestone of the company or team. Let them build that feeling of “all are for one and one is for all”. Everyone wants to be part of something, use that to help motivate your team.
10. Encourage family-time – putting in long hours in the work place does not mean enhanced productivity. Encourage people to go home in time; to enjoy quality time with their families; to attain a balance between home and work.
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