In a 2018 Gallup poll, only 34% of employees were actively engaged in their workplace and a 2015 SHRM report stated that 69% of respondents said they were consistently putting all of their effort into their work. These numbers clearly indicate the importance motivation tools hold in a workplace.
Motivation is a powerful leadership tool that can and should be leveraged by managers to help inject a spark of inspiration into a lagging or underperforming team. Incorporating motivational practices into your workplace initiates a switch from making assumptions about your employees’ work to taking action in recognizing each team member’s accomplishments.
Why Does Motivation Matter?
Motivation helps achieve goals. Employee performance is directly impacted if they feel recognized and supported by their team and upper management. This is important to you, as the employer, because employee productivity directly impacts employer productivity and growth opportunities, such as profit, and company performance, of course, but also in human resources and employee turnover. Finding the right incentives can stimulate performance and motivate employees to achieve goals by emphasizing individual strengths, and how those individual strengths are contributing to the team’s overall successes.
Here are 3 ways to bring motivation into your workplace.
Recognition is a straightforward way to encourage your employees and identity good work that has been accomplished. By pointing out employees who are performing well, it confirms and reinforces that the work being accomplished is right and encourages employees to keep up the good work. There’s an emotional connection that is created between employer and employee, and helps individuals feel like they belong to their team and are a contributor in their workplace.
- Put a formal program in place. This could be monthly or quarterly public recognitions that elevate employees who are doing good work to help your credit union perhaps through a nomination system or by manager submission.
- Ask for employee participation. Don’t let recognition only come from the top, but encourage your teams to raise one another up, and acknowledge good work being accomplished.
As a manager or leader in your credit union, be sure to lead teammates with your appreciation. This does not necessarily need to be public recognition, but can be an expression of gratitude to your employees for their hard work in a more casual work environment. A quick thank you can have a long-lasting motivating effect.
- Express gratitude. A quick handwritten note, email, or shoutout in a meeting are all ways to show appreciation for hard work.
- Celebrate team wins. It’s important to give your teams an opportunity to celebrate and praise good things that are happening. This can be informal or a repeating agenda item for regular, repeating meetings in the form of a shoutout, or some other form of appreciation.
Reward good behavior. Both intrinsic and extrinsic rewards can be powerful motivators. Of course, money or monetary rewards are one generous way to show appreciation to your employees. But, it’s important to keep intrinsic incentives in mind as well where employees can rally around corporate core values through team-building or goal-driven initiatives.
- Create an incentive program. This may be fueled by monetary incentives or with opportunities to learn new skills in order to reach professional goals. By creating a program that encourages employees to both recognize one another and be recognized for exceptional work, opportunities are presented to motivate one another.
Creating an encouraging and rewarding work culture shows an appreciation for your employees and increases productivity for the team as a whole. Taking the time to initiate recognition programs into your workplace will keep them encouraged to continue and bring forward their best work.