Happy employees who work hard are the lifeline of a successful business. While you might wish that a paycheck would be enough motivation to keep your employees energized and productive, money isn’t everything. Effective employee motivation depends on your employees. What motivates one person may not motivate another. Try various methods to keep your employees productive and profitable and your business should thrive.
Non-Monetary Perks
Try other types of perks to reward productive employees and motivate all your employees. Institute flexible schedules or telecommuting options for your most productive employees. Use paid vacation days to reward high achievers. Some employees might appreciate a job-sharing perk where two employees share one full-time position.
Recognition
There are many different ways to recognize productive employees and motivate your employees to produce more. An “employee of the month” system where the top producer enjoys special privileges and honors can be an effective motivator. Sometimes even a simple office-wide announcement of an employee’s special achievement and a round of applause can be an effective reward. Be generous with praise and positive feedback – you will motivate and encourage your employees when you notice their efforts and hard work.
Promotion
When hard work leads to promotions, your employees will see that you reward their efforts. Even if you do not have positions within your company for promoting, you can still award leadership roles to high producers. Placing a hard working employee in charge of a meeting is an instant ego-booster and it sends a strong message that you notice effort. Assign additional responsibilities to high producing employees to recognize their efforts.
Parties/Food
Promise a catered lunch in the office for your employees after they pull together and successfully meet a goal. Bring in doughnuts for morning break or popcorn for afternoon break to reward hard work. Take employees out for an after-work cocktail after they work together to land a deal. When you really need your employees to produce, promise a special social gathering as a reward for their hard work.
Financial Bonuses
Financial bonuses are one of the most popular types of incentives used by employers, although bonuses are not necessary the most effective. Employees often appreciate a cash bonus, but money is easily and quickly spent. If you decide to motivate employees with cash bonuses, use them in conjunction with other types of motivation as well, to create a well-rounded program.