Here’s what most employers and managers don’t realize: underappreciated employees hurt your bottom line more than you know.
In fact, a U.S. survey reported by Forbes shows that 66 percent of employees will quit if they feel unappreciated in the workplace. And everyone knows how expensive it is to lose an employee. Moreover, underappreciated employees have issues with their performance and attendance.
If you want to create a genuinely efficient workplace, you have to start by motivating your employees. Show them their value in the organization, and they’re bound to put more effort to excel in their tasks.
1. Genuinely care about your people
You might have heard of the saying, “Take care of your employees, and they will take care of your customers.” Leaders often quote this because it’s true. It’s your employees who regularly face your customers, not you. And you don’t want customers to be handled by an indifferent, bored employee, don’t you?
Employees know when you genuinely care. What’s your first reaction when a team member calls in sick? How do you help your team prioritize work-life balance?
2. Share regular feedback, both positive and negative
When you share feedback, it sends a signal that you care about your employees’ work, you take the time to assess how they’re doing, and you’re invested in seeing them improve.
The way you deliver your feedback is essential, though. Make sure to lead with the positive comments first. Flatter them. Then, gently introduce your comments for improvements. You can say something like “I’d also like to talk about areas where I think you can further grow.” Proper phrasing and tone are often the difference in having a disgruntled or an appreciative employee.
3. Host regular motivational talks
Motivational talks are a great break from work and serve to remind employees of why they do what they do. You can even make this into an incentive. For example, the top performer of the month will get a free pass to a motivational talk by a high-profile speaker.
You can also host your motivational talks. Once a month, invite motivational speakers to speak at your company. Some companies invite sports players as speakers for events like these. You can also invite book authors, known industry leaders, and other highly successful folks whom your employees can look up to.
4. Incentives, incentives, incentives
Money isn’t enough to motivate people. A study showed that salary and benefits are ranked low in terms of the top motivational factors for employees. What were the prime factors? Peer motivation (20%), an inherent desire to do a good job (17%), and feeling encouraged and recognized (13%).
This points out the need to offer innovative incentives. For example, if your team reaches your monthly sales goals, treat them to an all-expense-paid dinner party. This will help the team bond and increase peer motivation.
Motivating employees shouldn’t be an afterthought or a tactic only to get what you want. It should come from a genuine desire to help them grow not only as professionals but also as people.