You’re at the end of the year and while productivity in the office is average, you know it should be better. The question here is how to keep employees motivated in the fourth quarter and amp up performance.
One of the primary issues companies face today is not just boosting productivity but retaining staff. According to Right Management, a subsidiary of Manpower Group, only 19 % of workers are actually satisfied with their job. A more in-depth study by Mercer, a worldwide staffing agency, reports that approximately 32% of U.S. workers want to find a new job. One approach to build pride in the workplace and boosts moral is to incentivize employees on their performance.
Generally, companies reward employees with a holiday bonus, but one company developed an incentive program that not only rewarded employees but saved the company $20 million dollars during the first year of this program. In the microelectronics division of Lucent Technologies, an incentive system was devised to reward the generation of ideas from employees. Participants received a number of points that could be redeemed for a wide range of gifts from a catalog. More than 6,000 ideas were received, of which 2,100 were approved for implementation in areas such as recycling waste or safety in factories.
Experts have determined that a lack of breaks in routine can lead to a decreased cognitive ability. In situations where employees work non-stop, it’s common that information is not used effectively. Diminished response time and productivity are often a result, thus holiday breaks and spending time with family and friends are vital to diminish work stress. Planned breaks renew energy, helps reduce stress, and help to strengthen family and social ties, which influences employee satisfaction, and in the long run, increases retention.
Strengthen Commitment and Inspire Your Team
As an executive, I understand how important employee incentivization can be for each organization. Once you know the benefits generated by having an incentive program, you opt for flexibility. For decades, we’ve come up with intricate ways of getting the most out of the least, and worker productivity is always a key issue. While motivating employees to deliver their best performance and go beyond expectations is important, it is also important to enhance the value of their performance. Remember, employees are motivated by both internal and external sources. For example, your worker may enthusiastically agree to new responsibilities and be motivated by the new challenge it offers only to rapidly misplace that motivation due to lack of recognition, lack of communication, or loss of confidence.
Management has the power to foster environments that inspire enthusiasm for the job such as: giving rewards, showing appreciation for jobs well done, building positive relationships, and fun team gatherings. Then again, the leaders of the team that lack enthusiasm have the power to sabotage the work environment. A proactive leader will systematically assess team dynamics, engage the team, and create a synergy that would not otherwise be possible.