Small Business owners often confronted with high employee attrition. For most small entrepreneurs the easiest solution when a valuable employee resigns his job is to offer more benefits in terms of money and perquisites. But rarely does it work. Very hExit interviews often point out low moral due to infentitution appreciation and recognition of the contribution of the employee leading to de-motivation and disenchantment with the job.
Improving employee motivation and morale is the easiest method of improving organizational productivity and cut down employee turnovers. Replacing good employee could be expensive in terms of recruitment costs and time.
Research has conclusively established that the major reason for attrition in an organization is not money. It is more a matter of lack of recognition and rewards. You may be able to reduce attrition considerably if managers are trained to recognize and reward good performance. In fact every opportunity must be used to appreciate the work of the employees. Easier said than done, it takes a dedication and commitment towards the employees.
Here is a list of the ways one can motivate employees
Find every opportunity to appreciate good work
Recognize contributions in public forums and employee get together or meetings
Offer opportunities to learn, improve skills and knowledge through training
Create scope for sharing success through with others through narrating best practices adopted
Token gifts and invitation to a Dinner with family
Offer opportunities for rest and relaxation on attaining goals and good performances
Feature in house journals. If house journals are not available make sure to write out a notification and put on notice boards and circulate to all members of the organization
It only takes imagination to create a list as long as you want. Plan and create the list for frequent use.
Employee motivation is a complex subject and generally a neglected area. Whatever recognition and rewards are presented are very mechanical and lacks warmth and spontaneity.
It is easier to theorize than practice employee motivation programs. It would not be a bad idea to train your managers extensively on this area. The rewards for the organization could be less employee turnovers, high levels of motivation, increased productivity, commitment and team work.