Every business entity sees only one goal; growth. Growth is the bench mark through which companies are evaluated and assessed. Growth is as important to a company as water is to fish. This may be raw comparison but is apt. A company gets profit when there is growth. And money is the end result of any business. For a company to grow there are various number factors and the most important factor is the output of the employees. This is sometimes referred as the efficiency of employees. The more efficient the employees are the more work output is achieved. This is similar to efficiency of an engine. If an engine gives 70 miles a liter it is efficient. But the same engine gives 20 miles for the same one liter of gasoline; it means there is something wrong with the engine.
If you use the same theory for a company, you can put it this way. Suppose there are two companies A and B. Both companies have 1000 employees each, and manufacture the same product. These employees work 10 hours every day. At the end of the quarter if company A’s output is more than the company B’s output it means the employees of the company A are more productive. They are more efficient. So for company B to be as productive as or more productive than the company A, they must do something to increase the efficiency of the work that the company’s employees are doing. This means they have got to analyze the problem and fix the problem so that they can stay in of ahead of the competition.
One of the major factors that decides the productivity or the efficiency of the employees is the level of dedication. If the employee works with 100% dedication for 10 hours daily, he will have done more work. More importantly this work will be more productive than the work done when he isn’t dedicated fully towards it. So in order for a company to increase the dedication of the workers or employees of the company they have got to do one thing and only one thing. That is motivation. If they motivate the employees they will, for sure have increased the level of dedication that they put in. So if somehow the company is able to motivate the employees they will have increased the efficiency of the employees and thereby increase the growth of the company; since efficiency is the most important factor in the growth. So now there has to be a way so that these employees can be motivated. Here are three major ways by which a company can be motivated.
- Fear
- Incentives
- Growth
These three are the three most useful and common methods that various business establishments use to motivate their employees.
- Fear: Now this one isn’t recommended at all. There are many companies that instill fear among the employees and try to extract the maximum work from them. This is a manner is highly condemned and isn’t recommended. So we are ruling this out of our list of solutions. This leaves us with two answers to our question.
- Now the second one is incentives. This is most widely followed method of motivating employees and is highly recommended. This is also the most successful method of motivating the employees. Incentives or gifts are the extra things that are given to the employee for doing a particular work. These may be in the form of cash or kind. Incentives are mostly given in the form of cash.
There are many employees that announce that if the sales target is achieved the employee gets a 10% bonus in his salary. So money is one thing that makes work run as smooth as honey. So the employee sets a target and tries to achieve that so that he can gain that extra bit of bonus. So you can offer bonus to your employees for achieving a set of goals. Then all the employees are attracted to the bit if bonus that you give and they start to work harder, thereby increasing the efficiency. So next time you notice a slump in your sales figure or a decline in the growth, remember to announce a bonus to the employees. This works 100%. This is a method that has been in vogue since time immemorial. Try also giving perks like some house hold appliances or a holiday trip offer or any other incentive by which the customer can be attracted and will work harder. And the result is plain; increase in efficiency.
- Now coming to the third method is growth. There is a feeling in most of the people. That feeling is self growth. Just as your company tries to grow in competition with your rivals, your employees also have it in them to think of growing in their career. This is a general feeling. This is because everyone wants to achieve big.
So you can promise a few employees credit points for promotion or tell them that if they achieve a figure within 18 months they will be given a salary hike and a promotion to a higher post or something like that. You can tell your Assistant sales manager that if he achieves the sales figure of 500,000 units he will be made the deputy sales manager or given a salary hike. This will make the person work hard and he will try to lure his subordinates by doing something similar. This continues on and all the employees try to work harder and thus they increase the efficiency. This is because now with the offer of growth or incentives they have become more dedicated and they have increased the efficiency.
So you can follow the above mentioned steps so that the growth of the company is achieved and most importantly the employees are satisfied. If the employees are satisfied any business establishment is bound to grow because satisfied employees are more dedicated and dedicated employees increase efficiency. And as usual efficiency is the major contributor to growth.