Motivating and Retaining Employees

Keith YeatesMarch 31, 2015

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What is motivation? - Motivation is that which energizes, directs and sustains a person’s efforts !

Why is motivation important?- Organizations who have the knowledge and skills to motivate employees will always be a step ahead of their competitors. Plus they will retain their best employees !

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How do we motivate?- Elements that motivate differ from person to person, from situation to situation and from time to time !

Ways to motivate- Pay/Profit- Purpose- Challenge- Carrot/Stick

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Pay/Profit- Commission- Performance bonus- Profit sharing- Discretionary bonus

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"When Sam Snead was asked how to putt, he said, 'Putt for one hundred dollars'.“

Bob Schieffer

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Purpose- Empower- Involve employees in problemsolving (Kaizen)

- Communicate and explain - Say thank you !!!

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“Any business or industry that paysequal rewards to its goof-off and its eager beavers sooner or later will finditself with more goof-offs than eager beavers.“

Mick Delaney

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Challenge- Work goals- Create friendly competition- Articulate problems to be solved- Measure against performance metrics (ICMA Metrics)

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"Motivation is the art of getting people to do what you want them to do because they want to do it.“

Dwight Eisenhower

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Carrot/Stick - Base rewards on achievements- Establish clear career path - Fear of repercussions for underperformance

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“Of course motivation is not permanent. But then, neither is bathing; but it is something you should do on a regular basis.”

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ConclusionsWhat is the biggest long-term motivator survey

1. Working for a leader with vision and values2. Pay raises and bonuses3. Being given greater responsibility4. Developing the respect of subordinates and peers5. Being given recognition from supervisors and peers

A combination of tangibles like monetary bonuses and intangibles like praise, recognition, and working in an environment of open communications is the answer!!!

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Questions

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