Are We Slackers?
This question comes from a search for the motivational factor of employees. Research has revealed that in America more than half of the American workforce feels disengaged from their jobs. As a result, they are not working at their optimal productivity. This costs employers billions of dollars annually as these disgruntled employees spread the effect through the office polluting the healthy work environment. The American can regain the passion for work through recognition of their contribution. Unfortunately, most companies get it all wrong. This article seeks to x-ray how to bring motivation back to the workforce.
The Current Workforce
It has been discovered that only one third of the average American worker is engaged in their work. This is a stable trend that has been found to occur all year round. Research has also found the following.
• 18% are unhappy with their jobs and hence disengaged.
• 52% are not engaged, but perform their jobs with no passion whatsoever.
• 29% are engaged and they do their jobs with a high degree of passion.
• 25% of employees are highly engaged, 40% are moderately engaged
• 74% of all workers are satisfied with their jobs; 66% of those are still open to new employment
As a result from this lack of employee motivation, an estimated $300 billion is lost each year by employers. This stems from the fact that an overall 71% of the American workforce is disengaged from their jobs.
Linking Motivation and Productivity
The current level of satisfaction of employees was measured by The Hay Group. The survey was carried out across 10 regional offices with the following results linked directly to its impact on the company revenue.
• The offices with more engaged employees were 43% more productive compared to the others.
• An average of $166,000 was generated by a non-engaged consultant.
• An average of $238,000 was generated by an engaged consultant.
Market Tools Inc. collected responses from 630 United States employees in September 2010 with the following 5 discoveries made.
1. 39% of workers do not feel appreciated at their work place.
2. 27% are satisfied with the level of recognition they received at their work place while 76% were not.
3. 77% were willing to work harder if they were appreciated while 23% were not willing.
4. It was also discovered that for every 3 employees, 2 were planning to resign from the job. This formed 66% of the sampled population.
5. 40% of the respondents of those that were not planning to resign appreciated more recognition for the work they did.
Money is Not the Issue
It may be a lot easier to reconnect employees than we might think as it has been discovered that it is not about a pay rise. Here is a list of 7 incentives that would motivate employees at work.
1.27% prefer more opportunities.
2. 20% prefer career development opportunities and training.
3. 15% are in need of a flexible work condition.
4. 9% look towards and improved cooperation among workers.
5. 8% look to a more challenging work environment.
6. 7% prefer a healthy relationship with the manager.
7. 6% prefer clarity about work preferences and career goals.
Employees desire to receive increasing development that would boost their performance. The following statistics were listed from what employees desire the most out of their employer.
• 25% preferred a clear set of objectives.
• 23% preferred development opportunities.
• 14% wanted a regular feedback on job performance.
• 10% wanted a better work relationship with co-workers.
• 7% prefer a better communication with a manager.
• 6% preferred having a mentor/coach to a manager.
When the right stimulus is found to stimulate the growth of a company, then the keys to the success of the business has been located.
A research conducted by Idea Connect indicated that recognition programs can boost performance by 44% while longer term programs are superior to shorter term programs. Here are some indicators to that effect.
• For program lasting a year, performance increased by 44%.
• For programs lasting 6 months, performance grew by 30%.
• For programs lasting 1 week, performance grew by 20%.
3 Tips to Employers
Here is a listing of three quick tips for employers to help enforce the right type of incentives for your employees.
1. Recognize and praise your employees often.
2. Honor outstanding employee’s publicly.
3. Give different awards to meet the needs of different employee’s success such as a vacation, trophy, or point reward system.
Why Monetary Incentives Fail
Monetary incentives tend to lack trophy value to employees. They cannot be discussed with others and are often forgotten and spent on everyday needs instead. A compensation package is not seen as an incentive program in the eyes of your employees. Results from a survey conducted by Westminster College U.S indicated that incentives would inspire performance. Here is the list of the top motivational techniques for employees.
• 32% prefer a boost to their morale.
• 27% love praise and recognition.
• 18% appreciates monetary awards.
In summary, it is ideal to recognize the contribution made by employees to the growth of the firm. This helps in keeping them more focused and engaged. Their needs are quite achievable and are not tied to monetary values. Company policies should be adjusted to accommodate this as this would significantly boost productivity in the organization.