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Lessons from the Great American Leaders & How They Apply Now

Posts Tagged ‘compensation

Motivation Is More Than Money

with one comment

dynamicsleadership

When the topic of workplace motivation arises, the two primary issues managers focus on are rewards and recognition. This recognition often takes the form of compensation, but can also be manifested as accurate and timely feedback that acknowledges both positive and negative performance.

Many managers have focused their motivational efforts on the financial compensation an employee receives for their efforts. However, many have failed to understand the impact that clearly defined tasks and fast and accurate feedback has on their workforce. Consequently, they fail to ensure that both positive and negative feedback provided to their employees is directly related to their performance.

Aside from financial and budgetary means, it is important for managers to understand that they can increase overall performance through effective motivational techniques that increase employee productivity.

Harvard Business School conducted a number of employee surveys in a variety of industries. The hypothesis was that the employees who were paid the highest salaries and who had the appropriate personality traits, including drive and confidence, would be the best performers.

This hypothesis was soon discovered to be faulty. The actual top performing employees were defined not only by money, but by the following three factors:

Personal Impact

The top performers had the personality to bring about results through their own efforts. Each was able to accomplish their goals through their individual drive.

Fast Feedback

The top performers knew quickly whether or not their efforts worked. The low motivation employees were unsure of their results and unable to gauge their performance.

Accurate Feedback

The top performers received truthful feedback that accurately reflected their personal impact on results. They knew exactly where they stood and received credit when it was due. The low motivation employees were neither recognized for their good work nor penalized for poor performance. The challenge was thus removed from their jobs, as it was of no consequence whether they excelled or failed.

The results of the Harvard Business School study reveal that the nature of the task and feedback ultimately determine the employee’s motivation. The study indicated that these two factors are more important motivators than compensation.

There are several steps a manager can take to apply this information to their workplace:

  • Ensure tasks assigned to employees are clear. The employees should know exactly what is expected of them. These expectations are inherently motivating.
  • Make the connection between the employee’s individual performance and the end result obvious.
  • Teach employees to evaluate their own work. Detail the critical factors of success and provide them with an evaluation form to use. Make it clear that employees are responsible for their own assessment, and that they can perform the evaluation as frequently as they find it necessary.
  • When providing feedback, managers should ask, rather than tell, employees what happened in specific situations, especially if the manager was not an eyewitness. This process is important since customer feedback is often perceived to be inaccurate. Basing feedback on inaccurate information often results in resentment.
  • • Educate employees regarding how to use feedback. If employees fail to understand how feedback relates to their performance, there is no context in which to place it in, and it becomes meaningless.

Excerpt: Motivating Employees: Pinpoint Management Skill Development Training Series (Majorium Business Press, Stevens Point, WI 2011) $17.95 USD

Related:

Five Critical Steps to Maximize Performance

Execution: Six Action Steps

Performance Plans Create Results and Maximizes Performance

Objectives Allow Managers to Focus on Obtaining Results

For Additional Information the Author Recommends the Following Books:

Performance Management: The Pinpoint Management Skill Development Training Series

Planning to Maximize Performance: Pinpoint Leadership Skill Development Training Series

Maximizing Financial Performance: Pinpoint Leadership Skill Development Training Series

Improving Workplace Interaction: Pinpoint Leadership Skill Development Training Series

Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Finalist – 2011 Foreword Reviews‘ Book of the Year)
Linkedin | Facebook | Twitter | Web| Blog | Catalog |800.654.4935 | 715.342.1018

Copyright © 2013 Timothy F. Bednarz, All Rights Reserved

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Motivation Must Be Personal To Be Effective

with 9 comments

womenspeaking

All employees are unique in what motivates them to perform to their capacity and excel in their profession. Most will do what is expected of them, but the motivated employee will go to great lengths to exceed expectations. The key is for managers to discover what truly drives their people. Once their motivation is understood, leaders have the power to get the most out of their employees.

Managers often feel there is no need to motivate their employees as long as the pay is adequate. Yet research has demonstrated that the majority of personal motivation is based upon a host of other significant factors such as achievement, recognition, responsibility, personal growth, and advancement.

Compensation is certainly a motivating factor, but it is often linked to these more prime motivators. A poorly designed compensation plan will cause employees to feel unappreciated and not be reflective of their personal achievements. Consequently, many employees link their compensation to their perception of how they are recognized within the organization.

Managers must understand that it is within their power and control to motivate each member of their team to excel.

Managers who wish to maximize their employees’ performance use specific motivators to create an environment in which individuals feel valued for their contributions to the company, know their efforts are appreciated and supported by the organization, and have the desire to achieve higher levels of personal performance. These results can be achieved by nurturing an atmosphere that includes the following elements:

Interest

Managers must take a genuine personal interest in each employee. Although significant, this means going beyond his or her life outside of work. The main areas in which to devote individual attention are in mentoring and nurturing a personal and professional growth as well as in understanding what motivates them. When managers demonstrate an interest in their employees, they are giving and sharing their time, lives and expertise with their employees.

Confidence

Managers who wish to motivate their employees must develop confidence in their abilities. This means allowing employees to experiment with new ideas and techniques while understanding that, as people grow through their experiences, many lessons are best learned through personal mistakes and failure.

Managers must also have the confidence that their employees can develop realistic and attainable plans and allow them to work those plans without interference or micromanagement. Individuals who know they have the liberty to perform their jobs without fear of retribution if they falter are more motivated and empowered to stretch the limits of their capabilities.

Challenge

Employees must be challenged to stretch their personal and professional limits. This includes personal and professional development in areas of vocational knowledge, skills and expertise.

Pride

Managers must maintain a sense of pride in their team, their company and the products they sell. Employees must continually sell themselves on the value of the company and its products or services. If employees aren’t sold, they will have difficulty convincing others of the company’s worth. Additionally, as people need a spark to overcome daily stress and adversity, managers must build and nurture a passion in their employees to achieve and succeed.

Bonding

Managers must establish a sense of fellowship between the individual members of their workplace, which thereby creates comradery and emotional support. Successfully done, this builds a strong team atmosphere and healthy sense of friendly competition that is beneficial to the organization.

Reward and Recognition

Managers should use fair and consistent standards with which to measure performance and base rewards and recognition. Employees should be evaluated against their own performance, and, for best impact, appropriate recognition should be given immediately.

Appreciation

Beyond tangible rewards and recognition, managers must demonstrate their personal appreciation for the efforts and contributions made by their individual employees. They should also avoid taking the top performers on their team for granted. Because these individuals need little attention or direction, they are often overlooked as managers invest more time with more inexperienced or problematic employees. To stretch their personal abilities, the best of the group also need ongoing recognition, appreciation and encouragement.

Related:

Motivation Is More Than Money

16 Ways to Motivate Employees and to Celebrate Their Successes

Leaders Have Three Motivational Tools Available to Them

Recognition Must Be Given Liberally, Frequently and Publicly

Excerpt: Motivating Employees: Pinpoint Management Skill Development Training Series (Majorium Business Press, Stevens Point, WI 2011) $ 17.95 USD

Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Finalist – 2011 Foreword Reviews‘ Book of the Year)
Linkedin | Facebook | Twitter | Web| Blog | Catalog |800.654.4935 | 715.342.1018

Copyright © 2013 Timothy F. Bednarz, All Rights Reserved

Written by Timothy F. Bednarz, Ph.D.

February 12, 2013 at 11:41 am

Motivation Is More Than Money

with 8 comments

When the topic of workplace motivation arises, the two primary issues managers focus on are rewards and recognition. This recognition often takes the form of compensation, but can also be manifested as accurate and timely feedback that acknowledges both positive and negative performance.

Many managers have focused their motivational efforts on the financial compensation an employee receives for their efforts. However, many have failed to understand the impact that clearly defined tasks and fast and accurate feedback has on their workforce. Consequently, they fail to ensure that both positive and negative feedback provided to their employees is directly related to their performance.

Aside from financial and budgetary means, it is important for managers to understand that they can increase overall performance through effective motivational techniques that increase employee productivity.

Harvard Business School conducted a number of employee surveys in a variety of industries. The hypothesis was that the employees who were paid the highest salaries and who had the appropriate personality traits, including drive and confidence, would be the best performers.

This hypothesis was soon discovered to be faulty. The actual top performing employees were defined not only by money, but by the following three factors:

Personal Impact

The top performers had the personality to bring about results through their own efforts. Each was able to accomplish their goals through their individual drive.

Fast Feedback

The top performers knew quickly whether or not their efforts worked. The low motivation employees were unsure of their results and unable to gauge their performance.

Accurate Feedback

The top performers received truthful feedback that accurately reflected their personal impact on results. They knew exactly where they stood and received credit when it was due. The low motivation employees were neither recognized for their good work nor penalized for poor performance. The challenge was thus removed from their jobs, as it was of no consequence whether they excelled or failed.

The results of the Harvard Business School study reveal that the nature of the task and feedback ultimately determine the employee’s motivation. The study indicated that these two factors are more important motivators than compensation.

There are several steps a manager can take to apply this information to their workplace:

  • Ensure tasks assigned to employees are clear. The employees should know exactly what is expected of them. These expectations are inherently motivating.
  • Make the connection between the employee’s individual performance and the end result obvious.
  • Teach employees to evaluate their own work. Detail the critical factors of success and provide them with an evaluation form to use. Make it clear that employees are responsible for their own assessment, and that they can perform the evaluation as frequently as they find it necessary.
  • When providing feedback, managers should ask, rather than tell, employees what happened in specific situations, especially if the manager was not an eyewitness. This process is important since customer feedback is often perceived to be inaccurate. Basing feedback on inaccurate information often results in resentment.
  • • Educate employees regarding how to use feedback. If employees fail to understand how feedback relates to their performance, there is no context in which to place it in, and it becomes meaningless.

Excerpt: Motivating Employees: Pinpoint Management Skill Development Training Series (Majorium Business Press, 2011) $17.95 USD

If you would like to learn more about effective employee motivational techniques, refer to Motivating Employees: Pinpoint Management Skill Development Training Series. This training skill-pack features eight key interrelated concepts, each with their own discussion points and training activity. It is ideal as an informal training tool for coaching or personal development. It can also be used as a handbook and guide for group training discussions. Click here to learn more.
________________________________________________________________________
Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It
and What You Can Learn From It
Linkedin | Facebook | Twitter | Web | Blog | Catalog| 800.654.4935 | 715.342.1018

Copyright © 2011 Timothy F. Bednarz, All Rights Reserved

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