WORKPLACE MOTIVATORS
- money
- flexibility
- opportunity for growth
- good communication
- recognition
Research into what motivates people in the workplace confirms that there are at least five major factors that contribute to a happy, productive culture on the job: money, flexibility, opportunities for growth, communication, and recognition. These five motivators are the backbone of a healthy organizational culture.
To illustrate, let’s take a look at two friends who work in neighboring offices.
DAVE
Lackluster Bank and Trust
Dave is employed at Lackluster Bank and Trust next door. He’s a loan officer too, but his coworkers think he’s a grouch. His cubicle is isolated in a corner, and he rarely leaves it to talk to anyone. He would love to start a birthday club, but his bank manager feels it wouldn’t be productive for business.
Though Sam and Dave work in similar jobs, there are some striking differences. One is happy with his employer and his work; the other seems bored and unproductive. Let’s look closer at Sam and Dave and see if we can pinpoint how money, flexibility, opportunities for growth, communication, and recognition affect their motivation on the job.
SAM has a *smaller salary
*stocks
*merit bonuses
*health benefits
*makes more money than DAVE.
Sam, on the other hand, has a smaller salary, but he is awarded shares of stock when his bank has a productive fiscal year. When the small businesses he works with are awarded a loan, he receives a small percentage as a bonus which he deposits in his vacation fund account at the bank. He has good health and retirement benefits, and although he hasn’t had a raise in a while, with the merit bonuses and stocks he makes more than Dave does each month. That is why he usually buys the first round when they meet at the bar on Friday nights.
"America's most underutilized resource is recognition."
Dick Kocenivich, Wells Fargo
People, in general, want to be recognized, even in the smallest ways, when they accomplish goals. The need to be appreciated is human nature and by recognizing the achievements of individuals, we show that their hard work is valued. Sam knows his hard work contributes to his bank’s success because he’s been told so by his managers and coworkers. Dave receives very little praise for a job well done, so little phrases like “keep up the good work” are savored. He has amazing skills, but he’s the only one who knows it.
What can you do?
- Find out what really matters to people.
- Be observant.
- Ask questions.
- Listen to feedback.
- Make an EFFORT!
As organizational leaders, we should strive to find out what really matters to our employees, whether it’s money, a flexible work schedule, opportunities for training, better communication, recognition for achievements, or some other motivator.
Be observant, ask questions, listen to feedback, and make the effort. The benefits are happy, motivated employees and a superior workplace culture that people will want to be a part of.
References
Guinn, S. L. (2013). Finding and motivating engaged employees. Strategic HR Review, 12(2). doi:10.1108/shr.2013.37212baa.009
Hazel, K. (2012). Rewarding employees; why money may not always the best way. HR Focus, 11.
O'Connell, N. L. (2001). Rewarding employees with psychic income pays long-term dividends. Benefits Quarterly, 17(3), 7-21.
Plack, H. J. (2001). Rewarding employees. Baltimore Business Journal, 34.
Sullivan, J. (2000). Recognize the importance of incentives and rewarding employees. Nation's Restaurant News, 34(34), 36, 46.