It is difficult to find great employees and even harder to retain them, one of the ways of retaining employees is “motivation”. As an entrepreneur, it is important to enhance the employee morale to curb the attrition rates and increase productivity.
“Motivation is the art of getting people to do what you want them to do because they want to do it.” —Dwight D. Eisenhower
Managing attrition rates have been a challenge for both companies as well as entrepreneurs. Research in the last five years has proved that attrition and its related cost is the most common issue that almost every foreign company fails to retain qualified personnel in India. Statistics are even impressive. According to the chambers of commerce of India, attrition in the booming IT/ITES sector is at an of averages 25-30 percent. The average personnel turnover in the BPO sector even hit a high of 30-35 percent.
Clear goals, vision, and career path:
This is first and foremost and forms the foundation of your work. Set-up clear expectation for your team. Lay a road map, where they are and where they need to head. This will serve as a guide for their journey. Make sure that you review and update the goals from time to time.
2. Good work culture and positive environment:
A company is identified with its culture and environment, hence, it is important to maintain a culture for anyone to fit and give their best. Work culture creates an impact on your team’s performance.
‘Eat, play, and work!’ is the new Mantra that drives productivity.
“Apeksha Chaudhary, senior marketing manager, DY Works, agrees, “In addition to good salaries and monetary perks, stress-busters like inhouse games and activities, foosball tables and a well-stocked pantry helps.”
3. Appreciate and reward:
A small pat on the back, a word of appreciation, an email of acknowledgment could make a great difference to a teams performance and acts as a fuel to employees. Even monetary rewards are proven to be great motivational factors. Public recognition is a great way to give appreciation. I would encourage you to systemise recognition. Can the best employee of the month share a part of his or her success with others?
Recognise staff who live up to core values of the company. For example, one of the core values of your company is honesty and when an accountant found out that a client was billed client twice and issued a reversal – recognize that. This will let the team know what behaviors you would like them to exhibit.
4. Encourage creativity:
Fostering creativity and team development encourages the employees to voice up their opinions and express their ideas. It will also benefit the company since a new idea could be a potential solution. One way of encouraging creativity is by creating various platforms where the employees can their ideas.
Your company can allow time every week to work on pet projects that can create innovative new projects.
5. Be an inspiration:
A team’s performance is the direct result of a leader’s attitude towards its team, therefore, a leader should be inspiring and worth trusting. Yet again trust is a two-way street. By extending it as a gift to employees, they will return the favor and trust you back.
The simplest way in which a leader is inspiring is when he or she is inspired. What inspires you as a leader? Do you have a daily ritual that inspires you and keeps you on the top of your game? Read or watch inspiring material. Be inspired, to be inspiring!
Here are few phrases that could make a difference and would build more confidence and trust in your team
- “Ask me anything”
- “I want you to know how the work you’re doing aligns with our company’s objectives.”
- “I’m really not sure where to go with this. What would you do in my situation?”
- “Stop by my office anytime.”
- “I want you to know how much I appreciate you.
6. Listen well and Communicate Better:
It is inevitable that a leader has to be a great listener, however, listening is not just limited to hearing and responding. You need to care for what they feel and say and this will make them feel more valued and respected.
One way of addressing the majority of people-related issues is enhancing employee engagement. Watch this short video to learn 3 specific ways to boost employee engagement and have more productive employees.
7. Monetary Motivation:
The debate on whether money motivates employees more than other factors has been prevalent in organization from quite a long time. specifically in the developing country like India monetary motivations like payrise, Incentives, bonuses, and promotions play a key role in retaining good talents.
A recent study revealed that employees (especially those in non-Western cultures) leave not only for compensation reasons but for other reasons as well, like growth Opportunities, etc.
Sridhar Ganesan, managing consultant – Mumbai operations and rewards practice leader, Hay Group, expresses that there is no ‘this or that’, when you plan for an overall rewards value proposition for the employees; it has to be holistic, which means both have to be aligned in a balanced manner.
8. Set-up Skip levels meetings or Surveys to determine motivation levels:
Another way of assessing the motivation levels in your organization is setting up skip level meetings and surveys. This will allow employees to vent out their frustration levels and provides opportunities for the management to improve.
Atman test for motivation
The Atman test is a scientifically validated psychometric assessment tool that measures characteristics of personality and is based on the factors of the most widely accepted theory of personality; the Big Five theory.
This test takes into account 11 dimensions of an individual’s personality, which are grouped into 5 different sections
- Thinking Structure
- Resistance to Stress
In order for you to be able to motivate your employees, you not only need to know what motivates, but you also need to know what demotivates them! And that is what the Atman test does.
5 Best places to work in India 2017
- Intuit India
- American Express India
- Google India Pvt. Ltd
- Lemon Tree Hotels Ltd.
- SAP Labs India Pvt. Ltd
So, what makes these places best to work? It is the work culture, Satisfaction, and a good management system
Also check our related blog, Business Growth Pillar #3 – How to have happy and engaged employees.
Eventually, higher the motivation and satisfaction level, greater will be productivity. Like, share or comment below.