The monetary, external and fear-based motivation of employees is not enough in the dynamic and modern world of business. Positive reinforcement and employee ratification inspires internal motivation that fosters the creative and original thinking needed to stay ahead of today’s market.
Employee ratification not only boosts individual but also collective performance through positive reinforcement. Employees rewarded for exemplary performance earn the respect of their peers, igniting the internal motivation of others.
How employee ratification helps businesses
Employee ratification helps the business by improving productivity, performance and staff retention. The company improves its viability through increased profits.
Improving employee well-being increases productivity. The psychological benefits of employee happiness and the direct link to a productive workplace are well documented, read this article; A happy worker is a productive worker for more information. There are other positive benefits as well, including loyalty and self-management.
Employees motivated by internal motivation will create a cycle of excellence. Driven to self-development, which will lead to improved performance, if performance improvement is recognized, the employee will strive to improve performance by seeking approval and acceptance.
Positive reinforcement encourages other colleagues who wish to receive the same benefits from productive behavior, thus creating an organization of motivated individuals.
Other benefits of improving employee morale include employee development and retention; this saves businesses time and money. Finding the right person for the job, training and developing an employee not only takes time and money, but decreases productivity for a significant period of time.
The attitude of the personnel in the environment determines the culture of a company; this includes engagement between staff members both formally and informally, and approach to work. Motivated and engaged staff create a positive environment and thus foster positive attitudes and vice versa.
The foundation of a productive and positive corporate culture is encouraged through vertical and lateral mechanisms. New workers conform to the culture within a company by the example of established employees. Decreasing expenses for hiring new team members will increase the ability of companies to focus their resources on the production line, which will affect bottom lines.
Ideas to improve employee ratification
Non-monetary incentives involve developing respect and cultivating inclusive behaviors. There are different methods to achieve this goal. It recognizes achievements at corporate events for public recognition and increases individualism by remembering birthdays and other milestones. Encouraging the sharing of ideas are three examples. To learn more about this, read this article 5 examples of ridiculously useful non-cash rewards that improve employee engagement.
Employees receive compensation for work in the form of wages and salaries. People are used to standard bonuses and increases, but the unusual financial rewards will stand out and may cost less. Increasing health insurance with additional cover like Aetna health insurance supplement, subsidized housing helps alleviate stress and recognize the value of employees to the business.
Being unique is how companies, products and services stand out in the market today. Employees need to be motivated and focused. Decreasing stress increases creative thinking, which will lead to the next best thing.