Most managers assume that their employees approach their tasks with exactly the same motivators as they do themselves.
Do you think so too? Then I have bad news for you ... Because: far from it!
Every team member is motivated by something different. Whether it's more direction and meaning in life, gaining pleasure, gaining power, increasing self-esteem or belonging to a specific group.
It goes without saying that an appropriate salary is transferred to the account at the end of the month. When it comes to monetary incentives in particular, every company has a wide variety of ways of structuring salaries: be it bonuses, share packages, company pension schemes, company health insurance, a company car or a company bicycle, allowances for people who wear glasses, for family vacations, in the event of illness of relatives. And much more.
On the one hand, it is worth consulting your trusted tax office to find out what options and tax advantages are currently available. And on the other hand, to put together individual offers for each employee.
However, monetary incentives are not necessarily the be-all and end-all when it comes to motivating employees to perform at their best.
My son said to me a few months ago: "Mom, you know, I really like working at my company and I earn enough. But what do I miss? Praise from my boss from time to time. And a "thank you" for my work and my commitment! And what I would find really cool: a pizza party, like I once saw on the internet about employee motivation in America."
Can employees really be satisfied with such "simple" things?
If the salary at the end of the month is right, then my answer is a resounding "yes"!
As you can see, monetary incentives alone are no longer enough. Non-monetary incentives have a much stronger effect. If you still think that employees only leave your company because of the money, I'm afraid I have to disappoint you. Because 7 out of 10 leave their immediate superior and because the structures and processes in the company sometimes leave a lot of room for improvement!
In contrast, more empathy from line managers would help to retain employees in the company. In fact, 92% of employees would stay with their employer if their line manager showed a little more empathy.
So what are the non-monetary incentives that make your company simply irresistible?
Recognition, appreciation, praise, a thank you .... And in such a way that your team members hear it and perceive it as such. If the thought "not scolding is praise enough" is now running through your mind .... Gotcha! No, it's not enough!
First of all, my interim conclusion: salary secures your livelihood, but only marginally serves to motivate employees.
And doing nothing is not an option, because
- every day a team member is absent costs you between 200 and 2,000 euros. And you certainly want loyal and committed employees who don't turn blue because they don't feel like working.
- If a frustrated employee leaves you in an important key position with a wealth of know-how and invaluable experience, the cost of hiring a new employee will be between approx. 30,000.00 and 120,000.00 euros, depending on the salary. It is definitely worth investing in individual motivation and finding out how a professional motivates.
- Only 15% of managers motivate their teams. Well, what do you say to that? It's like driving a Porsche with tons of horsepower under the hood at full throttle with the handbrake on ... Ouch!
So my absolute recommendation: Be part of the 15% who are motivating and charismatic leaders!
So what can you do to keep your team motivated?
To keep your best employees and highly qualified top performers in the company, you should take their desire for appreciation and effective internal company communication very seriously.
Because unhappy employees are unproductive employees.
My tip for you today: ask every single member of your team!
You may be frowning now and thinking to yourself: "Where am I supposed to find the time?" Schedule regular times in your calendar to talk to each team member.
Use the following questions to find out exactly what motivates your team member:
- Are you happy with the current situation?
- What would particularly motivate you?
- How can I best support you? (Are the following points possible in your company? Flexible working hours / home office / further training opportunities / the next step in your career / sabbatical?)
- We have done a great job as a team - how could we celebrate this success?
Keep a record of the points discussed and implement agreements reliably.
I wish you many conversations with wow results! You will notice how absenteeism is reduced and the fluctuation rate drops because you simply manage to motivate your team members irresistibly.
