Do you rely on monetary incentives, profit-share arrangements, and gift-rewards to motivate your employees? Are they truly as motivated as they could be to keep working with your business, long term?
Watch this video to find out the one, simple and inexpensive technique that will have a massive impact on your team’s productivity.
Prefer to read rather than watch and listen? No problem – here’s everything I said in the video as text:
What I would like to talk about today is that one simple ingredient to the recipe for employee productivity. Encouraging employees to be more productive could be a challenge even for some very experienced managers. I am sure you have got some tools in your tool box which are working absolutely fine, but I just want to share this one simple technique which can actually help the whole team to get aligned with the common objectives of the business.
Traditional Business Strategies for Motivation
In the business world, some of the common ways to improve the productivity and motivation of people are:
- Monetary awards
- Profit-sharing mechanisms
- Free gifts (such as iPhones, weekend breaks etc.
Now yes these tools work and they can be small or big ways of recognising the performance of people but they have some downsides and I just want to talk about it very quickly so that you are aware.
The Downsides of the Traditional Motivational Business Strategies
One of the downsides of having monetary incentives in the business is that it is a future reference point, and this future reference point never goes down, it keeps on increasing. Therefore it could be an expensive way to make sure that you have the base level of motivation working in your employees, right? That is one and I am sure that you are familiar with this issue. The second is that sometimes, and actually I’ve seen this quite a few times, if not done properly it could actually erode the intrinsic motivation of your team.
So How Does Business Coaching Teach You To Improve Productivity?
Let’s then talk about what it is that can help people be more productive and enthused and motivated about what they are doing. Behavioural science research has found out that people generally lose interest or their motivation if they cannot see the relevance, the significance, and meaning of their role in the company. Mark my words; if they cannot really see the significance and meaning behind their role in the company they just get de-motivated, they are not really aligned in the same direction.
What Productivity Business Strategies Are You Employing?
So the question that you should ask yourself here is what are the things that you are doing and how frequently do you remind people of the impact, of the value that they are adding to the market place, to the customers, or the clients. That is question number one.
But How Do You Actually Implement These Strategies?
So what are some simple ways of doing it? It is not a very complicated implementation scenario. Actually, it is very straightforward. What you have to check with yourself is are you collecting those testimonials, the stories, the case studies? Maybe ask your clients and customers to talk about the benefit that they have seen by working with your team and with yourselves. And then are you constantly sharing these success stories in the forums where there is a positive impact, like your team meetings? Actually making your teams members read out those stories so that there can be a better integration in their psyche to say, “Yes, I understand you and what is happening here.”
Costs Versus Impact Here?
Is this technique expensive? No, it is not. Does it take a little bit of time? Yes, it does take a little bit of time. But does it make a massive impact on the productivity of people because they can see more meaning and significance of what they are doing and how they are adding value? Yes, there is a massive impact. So the question is, what do you need to do to make sure people understand the value that they are bringing on board?
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