The conventional wisdom which espouses that job satisfaction is directly proportional to financial rewards isn’t exactly true. As a matter of fact, financial rewards are much lower on the priority list for employees, than most people think. Various studies have shown that in fact being happy with your current job often depends on the intangibles like feeling you are an indispensable part of your department/team and being acknowledged and cherished for your work. These intangibles often outweigh the financial merits of working for a particular company and thus contribute more towards job satisfaction.
Enumerated below are certain broad guidelines to keep your employees not only motivated but also diligently committed to your company:
Briefly Outline Your Vision
Make sure that the vision that your company seeks to manifest is provided as a roadmap for all your employees, irrespective of their rank. This roadmap will act as the sacrosanct document to outline all your company’s objectives and goals both in the long and short-term. This document will also provide guidance and direction to their daily work and attitudes vis-à-vis the company and its objectives.
Try Satiating All the Wants and Needs of Your Employees
The common assumption that all your employees possess all the correct tools, training, and guidance from their respective superiors is deeply flawed and can potentially reduce their productivity. Thus, a monthly introspection to adequately assess and address their needs is quintessential in not only maintaining high levels of productivity but also maintaining a high level of satisfaction.
Make Everyone More Engaged
To attain the highest levels of productivity from your employees; you will have to keep them regularly engaged. This engagement can be done by virtue of involving them in the planning and decision-making of the company. Their personal involvement and suggestions and its implementations thereof will personally motivate them to match its targets. To implement this strategy, you will have to regularly ask for their inputs and ideas. As soon as their ideas are selected for a particular project – they will indubitably have a vested interested in seeing it succeed. This act of engagement besides motivating them will also empower and provide them with a sense of confidence.
Regular Communication is Paramount
Communication between the employees and their superiors is vital to the overall success of your company. This can be done in the form of memos, training sessions, monthly meetings and even newsletters. You can utilize these sessions to present and outline your vision of the company to them. It is essential for you to ask questions to your employees and if they are perplexed, it is equally essential for you to redesign your methodology of communication and do so in a way that is lucid, precise, and unambiguous. Many former and current managers state that the primordial duty of a manager is to communicate with his or her employees effectively. This system of efficient communication will then create a culture of dialogue, which will hence facilitate the growth trajectory of the company.
Express Your Faith in Them
One of the cardinal rules of winning your employee’s trust and appreciation is expressing your faith and confidence in them. This can be done by assigning additional responsibilities and giving them an opportunity to meet this challenge. The very fact that you gave your employee an additional responsibility makes him believe that your faith or confidence in him is profound and well-established. While it is critical that you guide your employees and provide them direction, micromanaging every maneuver of theirs will only make them nervous and inept.
Incentivize Productivity with a Prize
Rewarding people for completing a particular job will only foster an ethos of good-spirited competition among your employees. They will in all likelihood seek to reciprocate their success by redoubling their efforts. Psychologists claim that positive reinforcement is one of the best motivating tools for employees. By providing them with incentives like a free lunch or a day off, you can essentially compel your employees to work even harder.
Creatively Avoid Downsizing
Industry experts repeatedly state than an employer who values his employees as true, if not, equal partners will make every effort to avoid downsizing and avoiding layoff. To avert a looming economic crisis or to reduce regular costs, employers must be astute and not rush to reckless decisions. If employees feel a sense of job and financial security while working for your company, they will be less likely to move to a different company and hence your employee retention strategy can receive a major boost.
In conclusion, it can be stated that beyond the realms of monetary benefits, employers can undertake a range of activities including (but not limited to) involving the employees in big decisions, providing them better incentives, and expressing your faith in them, to further motivate and inspire them to work harder and hence bolster company productivity.