Keeping your employees motivated and performing at a high level is an important part of running a business. If your work environment isn’t a place that inspires your workers to come to work every day, then the chances are it’s going to harm your business.
Luckily, there are plenty of steps you can take to incentivize your employees, and they really are win-win. Sure, you’re going to have to invest a little extra money in your employees, but when you do this, your employees will reward you with improved performance and enhanced loyalty.
Pay
Let’s start with the most obvious one. Everyone is incentivized in some way by pay. We need it to pay for our homes, to keep our cars running and to keep food in our fridge, so we’re all concerned about pay to some extent.
Your business has a budget restriction that it needs to work within but trying to save money by offering low pay probably isn’t the most effective strategy. Your business is only as good as the people it’s made up of, and to attract the best, you need to offer competitive pay.
Time
Not everything boils down to basic pay though. Modern workers lead extremely valuable lives, making their time very valuable.
Modern technology allows your business to give some of that time back to your employees whilst still allowing them to work effectively. The 9 to 5 workday isn’t for everyone, and many employees thrive working flexible hours or even remotely.
A flexible schedule can be worth the equivalent of thousands of dollars to an employee and really make a difference to their happiness at work.
Choice
Even if you can’t offer your employees a flexible work schedule, you can offer them greater choice about how they spend their time in the office. People aren’t as productive when they’re chained to a desk for 8 hours straight, so give them options to break up the day.
Small initiatives like stand-up desks or free snacks can make an employee feel much more comfortable in their work environment and help them achieve more from their time. If you want to go a step further, you can encourage things like yoga and gym sessions on lunch breaks.
Perks
Everyone loves little perks. They don’t have to be much in value, but it’s the thought that counts, and it’s a nice way of showing employees they’re doing a good job.
Check out some innovative perks and reward your employees when they do well.
Development
People want to move forward in life, they don’t want to be stuck in the same place for the rest of their careers. You can help your employees to take these steps by offering them opportunities for development.
Encourage time off for personal development, invest in regular training and show your employees that you promote from within. Like many points on this list, investing in your employees’ development is a win-win. You get better employees who are more loyal to you and your employees continue to improve their skills.
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Interesting related article: “What is Motivation?“