employee motivation Archives - Tim Decker | Speed Painter

Improves Productivity

Recognition plays a direct role in a company’s productivity (or lack thereof). The U.S. Department of Labor (DOL) cites “lack of appreciation” as one of the leading reasons why employees leave work. When employees don’t receive the recognition and appreciation from their boss, they tend to work slower, with less drive, or they may choose to not work at all.

By recognizing workers for their hard work and excellence, employers will benefit from increased productivity. Going back to the basics of behavioral psychology, recognition encourages people to push themselves, which in turn results in higher productivity.

Reduces Turnover Rates

Another reason why employee recognition is important is because it reduces worker turnover rates. According to a study conducted by the Center of American Progress (CAP), the cost of replacing a mid-range employee earning $30,000 to $50,000 annually is roughly 20% of his or her salary. Assuming these numbers are correct, it would costs around $8,000 to replace a worker earning $40,000 per year.

It’s important to note that turnover costs scale with the employee’s salary. The CAP study suggests that it costs an average of 213% annual salary to replace a senior or executive position employee. Employers can prevent the headache and financial burden of having to replace employees by implementing a strong recognition/appreciation program

Improved Customer Service

Does your business involve transactions or other interactions with customers? By recognizing and showing appreciation to your employees, you’ll encourage them to go the extra mile to ensure customers are happy. Workers who are appreciated are more willing to put the forth the effort to make customers happy. This alone is reason enough to implement an employee recognition/appreciation program in your company.

Promotes Teamwork

Yet another reason why employee recognition is important is because it promotes greater teamwork in the workplace. Employee recognition sparks the drive and determination that employees need to work together. And when there’s greater teamwork in the office (or any other workplace), the business will run more smoothly.

Lack of motivation is a major (and costly) problem in today’s workplace. When employees go through their daily routine without truly applying themselves, it often results in lower productivity, diminished business-to-client relationships, higher employee turnover rates, and even higher rates of work-related injury/illness. Employers can prevent such problems while subsequently motivating their workforce, by hosting the right event.

Can a Corporate Event Really Motivate Employees?

Corporate events allow employees to let loose and enjoy themselves in an environment that’s outside their normal workplace. Far too many companies force their workers to remain cooped up inside the office 365 days a day. Showing up to work day after day can become monotonous, which ultimately triggers a lack of motivation. But a corporate event gives employees the opportunity to break away from this tiresome routine, reinvigorating them with a newfound desire to excel while on the job.

Many employers are under the assumption that money is the biggest motivator in the workplace (e.g. increased pay, bonus checks, stock options). However, several studies have shown that employees crave recognition and appreciation more than monetary gifts.

Choose a Venue Outside The Workplace

If you want to host an corporate event for the purpose of motivating employees, you should do so outside the workplace. Yes, it’s usually cheaper (and easier) to host an event inside the office; all it takes is a couple 2-liter bottles of soda and some snacks and you’re good to go! Unfortunately, this type of on-the-fly event doesn’t have the same beneficial effect on employees.

Does this mean you have to choose a venue located on the other side of town? Not necessarily, as something as simple as a mid-day picnic in the local park allows workers to enjoy time away from their normal work setting. Being in an unfamiliar environment impacts people on a very visceral level, and this is oftentimes enough to motivate workers to excel. The bottom line is that you want to choose a venue outside the workplace.

Tips To Motivate Employees at Your Corporate Event:

Choose corporate event speakers/entertainers wisely. You don’t want someone rambling on about dull topics for hours on end — this is a surefire way to send employees heading out the door.
Make it fun by thinking outside the box. Make your corporate event unique by including fun games and activities.
Gain feedback from your employees. Was the party a hit or a dud? By gathering feedback from your employees, you can make changes to improve your next corporate event.

Tim Decker