Companies that motivate their employees well are more likely to have much better performance.
Environmental, Social, and Corporate Governance (ESG), is an evaluation method that has become one of main factors in developing motivation for employees. Its key performance index (KPI) is measured by tracking and improving Employee Engagement (EE), and evaluates the consistency of human resources.
According to Gallup’s report, companies that motivate their employees well are more likely to have much better performance in profit, productivity, organizational commitment and customer loyalty. PricewaterCoopers (PwC), a multinational professional services network of firms, has conducted a study on motivation factors at work for employees, providing 3 ways to motivate employees.
Endow Senior Employees with Higher Motivation.
Based on previous experience and research, the engagement and retention rates of employees with 5~10 years of job tenure are much lower than others, including those tenured under 5, and over 10 years. The senior employees, who are familiar with their commissions and adaptive to the operation of enterprises and organizations, are the most valuable assets for the company, while most likely to resign from the company.
The management should endow these “self-motivated and independent senior employees” with higher motivation. For example, provide them with consolidated career paths and leadership opportunities along with financial rewards to motivate employees and retain their talents in the long run.
Adopt Motivational Communication.
The results of the research indicate that employees with higher self-anticipated performance have higher engagement and vice versa. These results reflect the studies of self-efficacy and Pygmalion Effect; that is, positive self-cognition can elevate individual performance.
We suggest supervisors adopt motivational communication and recognize colleagues’ positive behaviours in order to encourage positive self-cognition. As for those with unexpected performance, we encourage the management to give them constructive feedback with clear communication so that they are able to build their self esteem and consequently boost the positive cycle.
Invite Employees to Involve Decision Making Process.
Compared to normal employees, highly performanced employees pay more attention to the opportunities of involving decision making and conveying ideas. To effectively improve the engagement and retention of highly performance employees, it is essential for enterprises to offer feedback channels and improve internal communication.
Every company should regularly evaluate their internal communication quality, increase multiple communication channels, reinforce employees’ recognition of enterprises’ strategies as well as operating direction, and align employees’ individual goals with the blueprint of the companies. Besides encouraging employees to speak up, inviting them to make significant decisions also contribute to consolidate their recognition of both the policies and the organizations.
How to motivate employees?
With changes of times and corporate transformation, the goals talents are looking for are changing: “Doing something meaningful” has turned out to be one of key motivational factors for employees determining whether they should engage in work nowadays, and further impact the prioritization of resource input for corporations. We suggest the management to continually track the motivational factors of employees’ engagement and adjust human resources strategies and action plans actively in order to guide the companies to move toward the consistent development.