When profits are dropping, the first thing managers look at is employee performance. Are people motivated? Do they seem passionate about their work? How productive are they? You might be able to tell that employee performance isn't at its full potential, but figuring out how to fix that is the hard part.
Companies that began offering such incentives saw a 79 per cent success rate in achieving the program's goals.
Here are four great ways to keep employees productive, satisfied and performing.
1. Implement incentive programs
Employee incentive programs are the most straightforward way to drive performance. Companies that began offering such incentives saw a whopping 79 per cent success rate in achieving the program's goals, according to research from DCR Strategies. The idea is simple: offer your employees something they want, and they'll be motivated to do what it takes to get it.
Depending on the nature (and financial situation) of your company, these incentives could range from monetary bonuses to small rewards for hitting targets. As long as you're offering your workers something that they're interested in, the possibilities are endless.
2. Offer career advancement opportunities
The average employment tenure of young workers (25-35) is two years and eight months, compared to the six year and eight month average of the 45+ age range, according to the Australian Department of Employment. As you can see, younger people aren't staying long in jobs, partially because there aren't clear advancement opportunities.
The average tenure of young workers (25-34) is 2.8 years, compared to the 10.1 year average of the 55-64 age range.
Do your workers know what their next promotion could potentially be? What career opportunities are available at the company? Knowing that they have a future at your business will help drive them to impress management. The most motivated employees also tend to be some of the most well-performing, so make sure you're doing your best to keep them around.
3. Give employees flexibility
In today's work sphere, flexibility is valued more highly than many other job qualities. This is especially true with regards to remote working – allowing your employees to set their own flexible schedule might seem risky, but they'll probably end up being more productive in the end.
When workers have other obligations, such as families, they might feel frustrated or unmotivated working a 9-5 job. Employers that offer flexibility allow these employees to work when they're feeling most productive, leading to the best possible performance.
4. Undergo workplace training programs
Beyond being offered progression opportunities at your company, many employees are looking to develop professionally. This comes in the form of workplace training programs, like leadership management courses. Not only do courses like these help your employees maximise their performance, they help you identify promising candidates for future leadership roles.
Workers who see that their employer cares about their professional development will feel more motivated.
Workers who see that their employer cares about their personal and professional development will feel more motivated to work hard for the company. This, in turn, will lead to better performance overall, as well as happier employees. It's a win-win.
It might also be smart to look into employee performance courses, such as those offered by ICML. We offer a number of programs that are specifically designed to help businesses in Australia maximise their leadership, communication and performance potential.
For more information about how ICML's courses can impact your business, please reach out to a representative today.