The workforce of an organization is like oil to an engine; it does not function without it. Hence, the key for every business is to keep its employees working at their maximum potential. Only then would a business reach its highest potential. How then, do you manage to get the best out of your employees by keeping them motivated? The importance of employee motivation cannot be overlooked, as it leads to higher productivity, increased loyalty, higher profits, and a better business environment to work in. In this article, we will investigate some of these aspects of why employee motivation is important.
The biggest benefit of motivated employees is that they tend to work more efficiently. A motivated employee will always get more done in the same amount of time than an unmotivated one. This will enable you to get more out of every person.
However, there may be different motivational factors you may need to consider. You must balance intrinsic and extrinsic motivators. Intrinsic motivators are those which motivate you from within, without requiring external encouragement. This may include encouragement from the boss, or more interesting work. Extrinsic motivators are those motivators that encourage you externally, like money or cars.
To maximize productivity and motivation, you must balance intrinsic with extrinsic motivators. Intrinsic motivators will give you long-term success, while extrinsic ones may give short-term successes. Hence, it may be better to focus on intrinsic motivators. However, since every person differs from one another, some may prefer external benefits. Hence, the company must balance the two to create an optimally motivated workforce.
Increased Workforce Loyalty
A motivated workforce is a loyal workforce. Everyone wants to work in an environment where their organizations keep them motivated and happy. This keeps employees loyal to their employers, willing to work hard every day to prove themselves. Intrinsic motivators are key here since every company with sufficient finances can offer monetary benefits and other external motivators.
To retain these employees, their jobs must be made so engaging and interesting that they are unwilling to leave them. This could be done with increased autonomy, a promotion, regular positive feedback, and constant appreciation. This will make employees feel wanted and at home.
Other benefits of a motivated workforce translate to this one: Higher Profits. A motivated, productive workforce that is loyal to the company will have optimum performances and will help the company grow. Their efforts will translate to higher earnings as the work more diligently and efficiently. Moreover, if they are intrinsically motivated, companies will not have to continuously bribe them with monetary benefits to keep them aboard. This may save them a lot of costs.
Improved work environment
A workplace with motivated employees will have positive energy and will attract top talent. This positive energy translates to a more amicable working environment that everyone will want to work in. Not only will this enhance your reputation as an employer but give you an easier workforce to manage. Moreover, the top talent in the job market will want to come work for you if your reputation is of such stature.
The importance of employee motivation cannot be overlooked by companies. As per the benefits mentioned above, it can only be beneficial for employers to engage with employees more and motivate them. An important aspect of motivation to keep in mind here is that of intrinsic and extrinsic motivators. Intrinsic motivators offer longer term benefits as compared to external motivators. Hence, to optimize their employee motivation tactics, companies should find a balance between both. This will ensure a more productive, loyal, and amicable workforce that will eventually lead to higher profits in the future.
About the author: Syed Muhammad Ismail is a life-long Chelsea fan and a business enthusiast. Combining his two passions, he currently runs his own Sports Management company while also writing content for PACE blog.