Wednesday, March 18, 2009

Techniques To Motivate That Does Not Cost Money

Can simple praise achieve the same effect as a pay raise? Yes, according to leadership coaching firm White Water Strategies. They found that acknowledging staff achievements — praising employees — had the same impact on job satisfaction as a 1 percent increase in pay.
Pay freezes, pay cuts, layoffs: This reality in many workplaces makes it clear that our economy is not the only thing in dire need of a rescue package. Employee morale and productivity urgently need a rescue plan of their own. Ongoing, sincere employee recognition is a powerful means to re-engage disconnected employees, galvanize them around core company values and strategic objectives, and raise productivity levels throughout the organization.
These five tips to create an Employee Stimulus Package will reignite motivation, refocus efforts and re-engage today’s stressed employees.
Recognize effort frequently and appropriately. Say thank you. Let people know their efforts are valid, worthy, noticed and, above all, appreciated. Recognizing and rewarding employees throughout the year creates a culture of appreciation and ignites motivation and productivity. Hay Group Insight recently noted, “As companies tighten their belts during tough times, it’s important to remember that money isn’t always what matters most to employees. When it comes to encouraging employees to pour discretionary effort into their work, the chance to make a difference and be recognized for their contributions can provide a much stronger incentive.”
Empower everyone to reach out and thank someone. Employee recognition is not the responsibility of management alone. Let every person in your organization acknowledge their peers and co-workers for a job well done. Especially in down economies, people need to reach out, make a connection, and show appreciation for the good work done by their peers. It’s simple human nature.
Tie recognition to the bigger picture for bigger results. By directly linking recognition to your company’s objectives and values, you encourage employees to repeat those behaviors or actions that help achieve your strategic objectives. Research from Quantum Workplace, the firm behind the Best Places to Work surveys, reports “… employees are more highly engaged when they see where the company is going and understand their roles in helping the company go there.”
Communicate, again and again. Be accessible and address concerns openly. Preempt the rumor mill by giving employees regular company status updates. Use strategic recognition to reinforce these critical messages. Frequently communicate about your recognition efforts as well to raise awareness, increase participation, boost performance, and, most importantly, help develop that critical culture of appreciation – all of which leads to a happier, more productive workforce.
Don’t break the bank. Recognition doesn’t have to be expensive. Sincerely noticing, appreciating, and documenting employee effort doesn’t have to cost anything at all, beyond a little time. For the many companies that already have recognition programs in place, simply uncovering often ad hoc, unmeasured efforts and consolidating them into one properly administered and corporately governed program can save 50 to 70 percent of their current investments.

No comments: