There’s no ‘I’ in ‘Team’… but if you’re in a position of authority then the happiness of the team is on you. Here’s how to create a motivated workplace.
The modern office is changing, and where once motivation in the workplace might have meant having an extra water cooler, that’s just not going to cut it anymore.
To hammer home just how important it is to keep up a fulfilling culture and motivation in the workplace, you should know that it costs a third of an employee’s annual pay to replace them. If the reason they leave has to do with poor company culture, there is a 36% chance their replacement will also bid you farewell within two years. The main takeaway here? Rewarding and motivating employees in the workplace will reap far greater rewards than just a happy, smiley team – although we think that’s pretty vital too.
In the current employment market, you’re sure to miss out on serious talent if you scrimp on the perks. The modern-day job seeker expects more from their jobs than previous generations. Common work perks that are rapidly becoming standard for any contemporary company include:
One of the major catalysts for this change is the entry of millennials into the workforce. Love them or loathe them, those born between 1977 and 2000 make up a quarter of the population, so attracting and motivating millennials in the workplace you have created will help you benefit from young talent.
On the downside, millennials are also the least engaged when it comes to work. To this demographic, the economy hasn’t been too kind – cost of living is rising, rates of pay are falling, and it is common for millennials to be ready to bail in pursuit of better salaries, or at least a better work/life balance that compensates for a low pay grade. Over 80% of millennials would consider joining the gig economy to escape the shackles of a 9 – 5. That’s a worryingly high statistic for any brand hoping to hold onto their young employees, and precisely why you need to generate a rewarding culture that truly shows your team they are valued.
Of course, not all companies can afford to roll out staff-wide insurance programs or pay for expensive training days for every individual, but examples of motivation in the workplace don’t have to be grand. Here are just a few grass-root level ideas for culture and motivation in the workplace to help make staff feel valued: