Motivation is the Key to a Successful Business
Motivation is the inspiration to complete a task thus gaining a
result and meeting the satisfactory needs of the individual; these
needs vary depending on the person. When thinking of motivation
many people's first answer would be money. However this isn't
always the case, Non-financial incentives can be just as rewarding.
For example, the recognition of a job done well may be enough; the
concept of motivation is like any other - it's all down to the
individual.
Motivation can have an effect on the profitability of any
business. Lack of motivation could cause problems for a company if
sloppy work is done on a project that should be completed to a high
standard. Many business owners are unaware of the affect motivation
can have on their business. The size of the business is not
important, whether it is a small handful of employees to hundreds,
everyone needs motivation. All companies approach it differently,
however, once achieved - they will gain greater productivity out of
their team.
Financial
A financial reward is the most common form of motivation,
although this doesn't always have to be the case. Some companies
are introducing fringe benefits; for example promoting a healthy
lifestyle. They might give a free gym membership or help with
travel through the use of a company car. Sometimes theses are
more valued than the increase in wages, paid bonuses or an increase
in the annual salary.
Non-financial incentives
Financial incentives are not always the right approach. In some
areas, individuals would feel more motivated through an increase in
their responsibilities. For example, enlarging the job titles so
that the employee could complete larger sections of work in a
similar area. Another example may be job rotation. This is
increasingly popular within businesses. For example an
employee one week could be within the administrative department and
the following week marketing, this give the employee a fresher mind
every week. The employees also gain new skills allowing them to
better themselves (a key motivator). New skills and a fresher mind
could also lead the employee to a promotion.
Motivation is the key to push any business forward. An absence
of motivation could lead to a downturn in your business' success.
Your employees are your greatest asset. No matter how
efficient your technology and equipment is, it is no match for the
effectiveness and efficiency of your staff.