Too many companies rely on monetary compensation to motivate their employees, but in reality that just doesn’t work. Employees want more than cash and benefits; they want fulfillment, and money alone won’t get them there. Quite simply, bribing employees doesn’t work. If your company wants to be the exception, here are some strategies for increasing employee engagement that don’t involve bribes or bonuses.
The problem with bribing employees to do a good job is that it doesn’t work. If you pay me enough, I can come into work and do what I’m supposed to, but if you pay me too much I won’t care about my work. When money becomes our only motivating factor we stop caring about our jobs as it turns us into mercenaries for profit.
According to a Gallup poll, only 30% of employees are engaged at work. To improve engagement and motivation, managers should focus on providing their employees with a sense of purpose. Even if your company is doing well financially, it’s crucial that you consider your employees’ motivations—not just for dollars, but for a sense of purpose. Employees who have more autonomy in their roles and who feel connected to organizational goals will be happier (and more productive). They will also be more loyal because they feel like part of an organization that values them as people as well as employees.
Evidence is mounting that paying employees for performance may cause more harm than good and doesn’t necessarily help businesses, said Kathleen Christensen, Ph.D., professor of management at Boston University’s Questrom School of Business. In fact, multiple studies have linked pay-for-performance systems to lower employee engagement and higher turnover rates. If you want people to behave in a principled way — if you want them to make decisions based on what they perceive are your company’s best interests rather than their own — then you need to give them some sort of purpose, she explained. That means ensuring they understand how their work fits into a larger mission.
One of them is by giving employees a sense of purpose. This doesn’t mean you need to promise your team world peace; it means giving them a sense that they are making a difference through their work. Of course, like anything else, motivating employees with purpose won’t work if it’s hollow or empty. Make sure there is real purpose behind your statements, and that you back up what you say with action.
We want to hear their ideas, not just on how we can run things better. Organizations need to understand how they think we can make a positive impact on the world. We want them to tell us when they see waste in our processes, so that we can eliminate that waste and cut out costs. Leaders don’t just want the results that are agreed upon, we want their feedback and input.
They want to feel fulfilled and a sense of ownership, they want their ideas to be taken seriously, and they want to work with people they like. That’s according to new research from office-supply company Staples, which surveyed more than 1,000 U.S. workers between ages 21 and 65 across industries including manufacturing, retail, business services and transportation. The study found that employees who say they have the right amount of money also say they are happy at work (80%), truly engaged in my job/career path (70%) and feel I am making an impact on my organization (65%). The key takeaway for employers: Money doesn’t equal fulfillment. Instead, focus on giving your employees purpose.
Are you looking for additional ways to overcome complacency in there place? Check out this article on just that topic!