A recent report conducted by Recruitment Consultants ‘Matthews Consultancy’ found that companies which have a motivated workforce are over 40% more efficient than companies that don’t. While it won’t come as a shock that an inspired team equals better productivity, how do you achieve a motivated workforce when times are hard?
Historically, many companies motivated employees through financial reward; bonuses, pay rises and expensive team away days were an important part of corporate culture. However, as employers are put under increasing economic pressure due to recession, how do you maintain staff motivation when pay rises and incremental bonuses are no longer commercially viable?
According to a recent survey by website ‘Small Business’, staff are more motivated by having a role in company decisions in a context where financial incentives are hard to come by.
Martin John Evans, founder and CEO of Crash PR comments; “The findings of this survey confirm what I have thought for a long time. In a small company such as ours, it is vital that the team feel they are part of our brand and have a role in the direction of the company. Not only does it help motivate staff, it is also a great source of innovation and where many of our ideas on how we can improve and grow the business originate from.”