The act or process of motivating the employees at workplace has its own value and importance. Motivation is an ongoing commitment to succeed with goals and objectives of a business organization. It is said that without motivation, there is no sacrifice, without sacrifice there is no discipline and without discipline there is no success.
Whether motivation is with financial rewards or non-financial rewards, it is always important at workplace. Obviously, financial motivation is necessary, but the value and importance of non-financial methods of motivation cannot be ignored. Hence, it is important to recognize the need for non-financial methods of motivation as well. If you want to know the factors for motivating the employees with non-financial rewards, you might find this article helpful with that.
Employees who feel love and affection can perform better – Indeed, money is needed for happiness. Nevertheless, it’s more important to be happy than to be rich. Money is not everything, everyone needs love and affection.
The more love co-workers feel at work, they more they are motivated and engaged. It should be noted that whoever perceives greater affection from manager, performs better. In this way, compassionate and affectionate actions towards employees can lead to put their efforts with more sincerity, hard work and dedication.
Encouragement of employee creativity and initiative – Encouraging your staff to think creatively not only helps you greatly, but it also aids business to develop. If they are given a chance to share their suggestions with regard to the processes or procedures or the work flow, it will have two fold effects. Employees who feel their work is valued and whose creativity is encouraged have an increased sense of motivation, and their suggestion, being considered as valid, can being better change and development. Considering that, let your employees be at their most creative in order to get the best from them.
Providing opportunities for career advancement – Whether it’s in personal or professional life, boredom is bad for health and has many harmful effects. It’s better to detect boredom and bring change in daily routine job activities of the employees. While it’s true that great employees can somehow make their job fun, it is not proper not to prepare employees to perform other jobs. Most employees may not like to stuck in doing the same routine tasks every day. This calls for managerial philosophy. This factor has a lot to do with a manager’s attitude, viewpoint, ideas, thinking, way of life, values and beliefs. However, if a manager offers the employees some diversity in their activities, they get energized. It leads to greater motivation also if employees are promoted based on their talents and abilities.
Employee recognition - Every employee wants that his sincere services should be recognized. Management should arrange such programs through which the efforts of the employees may be duly acknowledged.
The word culture comes from the Latin word ‘cultus’, which means 'care'. It implies the shared beliefs, values, customs, practices and social behavior of people or a group.
Everyone retires. When a company has no succession planning in place to replace those who are going to retire, it will experience a major setback.
Tax benefits for contributions made to qualified retirement plans in United States are limited by the upper limits set by the Internal Revenue Code, and are announced every year. For the year 2018, some limits like the contribution in a 401(k) plan have been increased, whereas some others, like the maximum ‘catch-up’ contribution by those over 50 years have remained unchanged.