A report compiled by the Engagement Institute shows that disengaged employees cost companies in the U.S. close to $550 billion a year in non-productivity.
Employees that are engaged and motivated to give their best are essential to a company, no matter its size or sector. But how do companies motivate their employees to give their best?
Below are five simple and cost-effective strategies to use to motivate your team.
1. Employee Recognition and Rewards
One recent Gallup poll showed that employees who did not feel recognized by management were twice as likely to quit in the upcoming year than those that received recognition.
Employee recognition may be one of the easiest and cost-effective, ways to motivate workers. And rewards do not have to be expensive; even a small personal note or thank you card can feel meaningful.
An added benefit is that not only does employee recognition provide motivation, but it can also show all employees what success looks like in your company.
2. Motivational Speakers and Team Building
Team-building exercises are another great way to motivate employees. Creating teams of people with varied backgrounds and skills can help to build communication and break down barriers.
Hiring a motivational speaker is another quick way to inspire your team.
A good motivational speaker can share their personal story and motivate employees to reach for their highest potential. Motivational speakers can come from a variety of fields and still be effective.
Look for motivational speakers that deal with not just business but mental health, and even sports wellness speakers to find the right fit to motivate your team.
3. Be Transparent to Motivate Your Team
Employees that see the bigger picture for the company are more likely to feel like an integral part of the team and motivated to help contribute. It also helps them understand how to best leverage their talents for the business.
Increased transparency in the workplace builds trust between the company and its employees. It also has been shown to lower job-related stresses and boost overall morale.
4. Offer Flexible Work Hours
Striking a good work-life balance makes for happier workers. And happier workers are more engaged and motivated while on the job. It also makes for healthier employees that have less burnout and takes less sick time.
One of the best ways to ensure a good work-life balance for employees is to offer flexible working hours. Advances in technology are making it easier for work to be done remotely and at times that work for the employee’s busy life.
5. Feed Your Team
If you have the means to do so, a surprising way to boost motivation is to provide meals to employees.
Providing workplace meals has been cited as one of the biggest morale boosters among employees. Aside from saving employees money, it saves them the time and hassle of planning their work time lunches.
Providing high-quality food at work also makes for healthier employees (with less need for sick leave) and when employees eat meals together, it builds camaraderie among the team.
Happier Employees Are Motivated Employees
Whatever method you choose to motivate your team, two things are essential: compassion and sincerity.
Employees that feel like their employers care about their wellbeing and personal and professional growth are happier, and therefore, more motivated.
If you enjoyed learning about how to motivate employees, check out the rest of our website for more helpful business-related articles. We also cover technology, health, travel, and so much more!