Motivative hot topic - Essay Example

Motivation Hot Topic Staff motivation is a critical aspect of any firm’s success, especially for SMEs, because engaged and motivated employees tend to go that extra mile by working harder and contributing ideas to achieve the firm’s objectives. Moreover, motivation’s effect on workplace morale also has a significant correlation with ability to retain the best staff. It has been forecasted that staff turnover rates are going to increase over the next ten years, which will be expensive for SMEs.

As working conditions improve, workers who are dissatisfied with their current conditions may pose a significant risk of flight. Therefore, in the next few years, how managers recognize and meet the needs of their staff is going to be essential in talent retention. A challenge rises from if there is no money to improve their salaries and wages. However, money is not always the most effective motivator and, although it may provide a boost for workers in the short-term, there are other influencers that are more powerful in the long term, such as career advancement, recognition, and praise.

Indeed, the chance to lead projects, attention from management, and praise from management are potentially more effective than a pay rise or cash bonuses. SMEs have a big opportunity to involve their staff in business development, for example by sharing how the enterprise is progressing with their employees and seeking for their input in business decision making. Appreciation and recognition are also vital, although this is dependent on the personality of employees. Thus, management will have to ensure that they know their employees personally since some employees may not like being in the spotlight, while others like public appreciation.

The internet company Cloud Reach faced a similar issue during their initial years of operation, at which point they decided to motivate their employees by making the company a fun place to work. With some 60 staff, the company was voted as one of the best companies to work for in 2013. This shows that staffs work for a company where they are fulfilled, happy, and where they can be part of an exciting project. In this case, the team of workers are involved in developing the core values of their firm with promotion of personal growth, respect for individual workers, and the ability to share opinions.

Therefore, for a company seeking to motivate its employees in the absence of cash for a pay raise, there are two major strategies that can be used;The first solution would be to involve the staff in decision making by regularly communicating with them and setting realistic expectations, as well as listening and welcoming their contributions to achieving the company’s objectives. Moreover, this will also involve asking the present members of staff to share their knowledge and skills with other employees and to train them, keeping employees up-to-date with targets of the business, and having regular get-togethers for the company workers.

Finally, the company’s managers should also share the successes and challenges of their business with the employees to make them feel more involved and engaged.Another solution for this challenge is staff development and career advancement, in which the management should regularly provide constructive feedback and encourage employees to be innovative and use their initiative. In such a case, it would be prudent to avoid using micro-management techniques and to give employees the chance and more responsibility to lead projects.

Moreover, the company may ensure that their employees can see a career path that is rewarding in the workplace.