You, as a business owner, can hire the most talented, educated, and experienced employees in the industry to grow your business. But, if they’re not motivated to bring their best selves to work every day and to work together for the good of the company, all of that talent will be wasted.
The hiring process is just the beginning. Once you’ve onboarded your team, it’s time to get them motivated and keep them motivated. The future of your business is at stake.
There are many tactics you can utilize to inspire your employees’ best work. Understanding how these will affect your team members is the first step to improving workplace satisfaction and ultimately your bottom line.
It seems fairly obvious. If you don’t pay your employees what they are worth (and more), they will underperform. They’ll always have one foot out the door from the moment they start.
Underpaying your staff sends the message that you don’t value their hard work and their talents. If you don’t value their hard work, they won’t either.
Here’s how to make competitive pay work for you:
Pay your employees well and they will return more rewards.
While health insurance is the first thought that springs to mind during the benefits discussion, it shouldn’t be the only one. Employees expect health insurance, so offering that doesn’t set you apart from the crowd or motivate your staff.
It’s time to think outside the box:
Offering money for tuition or towards student loans can help motivate your employees to grow and improve. It also sends the message that you appreciate personal development and want your employees to have upward mobility.
Creating their own schedule can be appealing to many employees and you will likely find that they work more efficiently when given this freedom. This will also keep them from feeling like they are being micro-managed, a situation which will ensure that your employees do the bare minimum and harbor resentment towards management.
Get creative with your use of benefits and your employees will thank you in improved performance.
Your employee is doing a fantastic job in their current role so you reward them with a promotion. This seems good in theory, but what if that employee isn’t management material? The Peter principle states that “managers rise to the level of their incompetence”.
Managers need to possess leadership qualities. If you plan to promote for a job well done, make sure that:
When you promote (or even worse, hire) a leader without leadership qualities, the employee will suffer, the team will suffer, and your business will suffer.
It may seem counterintuitive for anyone who has ever had the dreaded “review”, however checking in with your employees on a regular basis and discussing their performance can be a win-win situation.
No one wants to work for the Wizard of Oz, a giant talking head who can’t be bothered speaking to his team. The best bosses are the ones who know their employees on a professional level, yet also care about them on a personal level.
Take the time to speak to your employees through one on one meetings and staff meetings, and most importantly, listen to your employees when they speak to you. The greatest ideas, breakthroughs, and solutions will come from the employees that are in the thick of it.
Front line, middle management; these are the people who understand how your business is run. Take advantage of this wealth of knowledge and show your appreciation for their hard work.
No matter what type of building you occupy, how much you’ve spent in equipment or inventory, and how much you love your customers, your employees are your biggest investment and your best assets. Treat them with respect and provide them with constant sources of motivation, and your business will boom.
|Written by: Brad Mishlove, CEO and founder of Catapult Groups, an executive coaching organization is committed to inspiring business owners and entrepreneurs by keeping them accountable for their own success through peer advisory groups and one-on-one executive coaching.|
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