To build and grow a strong business, we must remember this simple fact: A business is run by people. People are human beings. Human beings are emotional beings. They work most efficiently when they are happy. When they are motivated. When they enjoy their work.
We should help them to work efficiently, to be happy at work.
About motivation, it is believed that money is the only motivator for employees. This is not entirely true. Money motivates, but temporarily. Not always. To be motivated, many other things are required in addition to money. Here are some:
Everyone expects to be respected. Employees who are respected by their bosses and colleagues work confidently. Create a culture of mutual respect in your company. We should not insult anybody. If we need to give some feedback, we must give in private. Don’t fire people in front of others. Being rude to employees is bad. Maintain dignity of labor.
Concern and care
We must remember that employees are as human as we are. They, too, have their own life, own problems, dreams, challenges, limitations and frustrations. We must take care of them and be concerned about them.
Employees prefer to work where they enjoy working. Good facilities are a need. We must provide good working conditions and facilities as prevailing in our industry.
Yes. Salary is important. It should match with the industry standard. It should be paid on time and must be revised from time to time. Remember the old saying: if we give peanuts, we will only get monkeys. Generally, monkeys can’t help in growing a business.
Timely appraisals and increments
It is necessary to review the work of the employees periodically and give them feedback about what is good and what needs improvement. Appraisals must be done at least once a year or more. Based on the appraisal, salaries of the employees must be revised and promotions affected, if appropriate. Most businesses ignore appraisals. They delay increments as much as possible. This is demotivating for the employees.
Remember. In today’s times, employees may be available in abundance, but good employees are scarce. Good employees are in high demand. We can grow our business only if we have good employees working in our business.
We must care for them to retain them. Losing good employees will be a loss to the business.