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There’s no question that tangible reward and recognition programs are motivating for a lot of employees. But, looking at motivational factors for your team, it’s important to consider financial incentives alongside other ways to fire up your employees.
People are complex and what motivates one person might not motivate another; having a programme of strategies to motivate people will allow you to reach more of your team than simply relying on one approach.
Bonuses
When there are bonuses on the table, used and managed effectively, they can be a powerful tool to motivate, excite and drive employees across the business. And the added positive for an organisation is that a well-thought-out bonus programme is a win/win for the business and the employee – enhancing results and profitability while also motivating staff.
Leaders can motivate a variety of behaviours and outcomes with bonuses. The goals might be clearly linked to profit, or part of the bigger picture for the organisation’s success. For example, linking bonuses to DEI and other ESG initiatives helps to shift the dial in the right direction on these important issues.
One thing to note about bonuses though is that once implemented, it’s very hard to wind them back (and if they are set in stone in a contract, that’s a whole other kettle of fish). The business needs to be committed to whatever approach they take, and fair about how it’s administered.
Progression
Many people don’t just want the financial benefits that come with their position, they also want progression opportunities. This can look different depending on the employee’s future goals, but very few people want to stand still.
Helping employees to progress might include:
- Training programmes on new skills
- On-the-job experience working on different projects
- Secondments to other departments
And don’t forget to consider your employees when promotion opportunities come up. Too many organisations have an external bias and ignore the value of supporting a current employee as they step up into a new role.
Eliminate barriers
If employees face frustration in their roles, day in and day out, this can quickly sap motivation. As a leader, ask, “What are the barriers to motivation and how can I optimise my team’s performance?”
What can you do to stimulate your team’s drive by removing restraints?
Consider things like:
- Is there unnecessary complexity or rules around processes and workflow management?
- Does the organisation work in silos?
- Is your team up to scratch when it comes to knowledge and skills?
- Do people have access to the tools and tech they need to work effectively?
Removing barriers that are impacting your team’s day-to-day process and effectiveness should have an instant motivational impact.
RELATED TERMS
A bonus pertains to the financial compensation given by employers as an incentive or reward, the amount of which is based on their performance.
Shandel McAuliffe
Shandel has recently returned to Australia after working in the UK for eight years. Shandel's experience in the UK included over three years at the CIPD in their marketing, marcomms and events teams, followed by two plus years with The Adecco Group UK&I in marketing, PR, internal comms and project management. Cementing Shandel's experience in the HR industry, she was the head of content for Cezanne HR, a full-lifecycle HR software solution, for the two years prior to her return to Australia.
Shandel has previous experience as a copy writer, proofreader and copy editor, and a keen interest in HR, leadership and psychology. She's excited to be at the helm of HR Leader as its editor, bringing new and innovative ideas to the publication's audience, drawing on her time overseas and learning from experts closer to home in Australia.
