The extent to which a company is able to organize its various factors of production determines the level of success achieved. While the availability of adequate capital and relevant equipment make the prospect of engaging in economic activities with a view of making profits feasible, no target can be realized without human resource. Consequently, companies need to ensure that their workforce is fully skilled and remunerated properly to avoid losing them to competitors.

Your 20% discount here!

Use your promo and get a custom paper on
Employee Motivation

Order Now
Promocode: SAMPLES20

This makes it necessary for human resource management (HRM) teams to initiate employee motivation programs that enhance the resolve to work hard and engage in activities that boost the chance of their organizations yielding more output. The initiatives introduced to inspire workers need to be viable to ensure that companies do not compromise their profitability through heightened operational costs. Therefore, workforce motivation is vital and HRM officials should keep monitoring industry trends regarding employee treatment to make sure that their companies are not left behind.

As a manager in an organization, it is essential to create an environment where employees feel motivated. This can be attained by providing either monetary or non-monetary incentives in the workplace to steer satisfaction and encourage workers to be more creative when executing their duties. Some of the monetary rewards that may be used to inspire workers to reach their full potential include bonus payments whenever performance targets are met, annual salary reviews after every financial year reports are finalized, and the provision of quarterly cash awards for employees who meet some specific ethical considerations set in the company. However, these incentives may pose a challenge to the company especially when unpredicted macroeconomic variables make it difficult for companies to raise enough cash for awarding exceptional employees, offer salary increments, and still be able to coordinate other vital affairs. However, this can be addressed by opening up to employees through proper communication about any industry challenges that make it difficult for the company to honor the agreed inducement plans, with a reassurance of better compensation when prevailing economic turbulences stabilize.

Non-monetary incentive strategies that can be introduced to motivate workers include the establishment of dispute resolution processes to make it possible for them to share grievances and let the top management know in case of unjust practices by supervisors. Secondly, it would be necessary to offer off days and paid holidays for employees who attain a certain level of performance with proper guidelines provided to clarify specific targets and their accompanying vacation durations. Finally, establishing an open door policy would boost the employee-employer relations whereby the former would be free to visit any office in the organization and share ideas or report various happenings that pose a threat to the realization of its projected productivity.

The challenges likely to be experienced in this case involve the high costs of facilitating employee vacations and the availability of labor unions that incite workers to adopt other dispute resolution techniques that create tension in the organization. However, proper budgeting may be done and a contingency account set with the predetermined estimate to make sure that any funds used to motivate employees do not impact the company’s working capital. Lastly, nurturing transparency and treating workers equally would be crucial in establishing good relations with labor unions members to minimize conflicts.

Overall, motivating workers is one of the strategies that can be adopted by companies to improve productivity. Employees are more likely to deliver their best when they believe that a company is concerned about their well-being. Incentives provide a practicable employee motivation mechanism and organizations may choose between monetary and non-monetary reward plans to encourage creativity and hard work. Some of the challenges that may occur can be solved through proper planning and effective communication.