Quick Links: Employee Satisfaction Surveys 4Cs Employee Survey FAQs Employee Survey Benchmarks
ABOUT SERVICES PRICING TESTIMONIALS ARTICLES BLOG CONTACT1-866-802-8095
A Better Motivator Than Money
Posted by Insightlink on 07/16/13
What Is the Secret to Employee Motivation?
A recent study by the McKinsey Group highlights what we've been saying for years. When it comes to motivating employees, financial incentives are not the most effective tool. In survey after survey, we've found that regular recognition and appreciation matters most to employees.
Why is it then that so many organizations fail at this relatively easy (and pretty much free) strategy for motivating and engaging their workforce? It all comes down to ineffective managers who misplace their focus on what means most to their employees or senior management who do not see the need to build and maintain a "culture of recognition."
Here's how the top 3 financial motivators compare to the top 3 non-financial motivators:
Effectiveness of the Leading Financial Incentives
Effectiveness of the Leading Non-Financial Incentives
Together, the leading non-financial incentives are more effective than the leading financial incentives. What does this mean? Although cash-based bonuses have a role to play in motivating your employees, you should not think only in terms of financial reward. Being acknowledged for going above and beyond your usual duties or being asked to take on a leadership role can be extremely powerful motivators. However, these can only be effective if they become part of your organization's DNA.
Would you like to find out what your employees think? Consider a 4Cs Employee Survey to get the skinny. You'll likely discover that implementing recognition programs tailored to your culture will give you way more bang for your buck than any pay raise could achieve. Also, offering your employees mentorship, kudos, recognition and leadership opportunities is a highly effective way of keeping your top performers.
Where does your company stand on each of the critical "4Cs" of employee engagement and satisfaction?
How many of each do you have?
AboutInsightlink Communications are experts in employee survey design, data collection and analysis. Since 2001 we've helped companies of all sizes measure and improve their employee satisfaction and engagement.
4Cs Blog Home
Top 2 Ways To Improve Your Businesses Productivity Through Communication
How Is Visibility of Employees Essential for Their Engagement?
How to Create Remote Working Culture That Drives Performance
Top 10 Essential Skills Every HR Professional Needs To Succeed
Digitalization and Agility Trends: How to Prepare Your Organization for a Digital Future
Insightlink's Acclaimed 4Cs Employee Survey
Advanced Online Survey Platform for Pros
Quick & Easy Online Surveys
Home of the Gallup Q12
World at Work
Engaged Employees Blog
HR ToolKit Guide to Employee Surveys
Good info on how to write surveys.
Makes 360 assessment surveys easy.
Online Employee Exit surveys.
4Cs EMPLOYEE SURVEY
ARTICLES & GUIDES
Copyright © Insightlink Communications. All rights reserved.