Motivating and managing a team is a challenging prospect. An inspired workforce is more productive, happier and inventive. When you encourage your team in positive ways, they are likely to give you their best efforts and share innovative ideas. Here are five tips for motivating and managing an awesome team:
Approximately 86 percent of organizations have an employee recognition program available. Companies that have a rewards program in place report lower turnover rates than organizations without one. Recognition programs also improve the attitude of employees. Trophies, custom awards, gift cards and extra vacation days are popular rewards options. Include rewards that are valuable to your employees and update them periodically.
Consider celebrating longevity milestones and service awards. By recognizing devotion, you’re encouraging others to stay with your company long-term, which is beneficial to your business because you’ll avoid excessive rehire costs as well as the decreased morale that can arise when people leave. If a company can increase its employee retention rate by just 5 percent, it becomes 25 percent to 85 percent more profitable.
When a manager sets up and pays for a team outing, the activity can net remarkable results. This type of recognition is likely to encourage bonding between team members and prevent burnout. Team outings increase employee relationships, and this amplifies their engagement levels. According to statistics, organizations that have engaged employees are up to 10 times more likely to see profit and sales growth.
Focus on Team Players
Often, a company’s rewards program provides recognition for top-performing employees, but consider rewarding those who help your high achievers. Maybe these are employees who overtime to complete important projects, who constantly live out the organization’s values and other creative awards for being a valuable team member.
Instead of bringing in new hires to fill upper-level positions, look for opportunities to promote your existing staff. When a company promotes from within, it shows employees that it is invested in its workforce. Statistics confirm that when organizations increase the number of talented managers they have on staff and double the number of engaged employees, they see a profit increase of around 147 percent on average.
Team management is not for the weak. It takes fortitude, the ability to inspire others and tenacity. Zig Ziglar said, “People often say that motivation doesn’t last. Well, neither does bathing – that’s why we recommend it daily.”