Maybe they were instilled via your leadership… On the topic of necessity, one might see the costs associated with team building and employee motivation activities frivolous and unnecessary. While it is important to evaluate the must-have expenses for a company to succeed, there might be more return on your team-building and employee motivation investment than you think. Many studies show that the total cost of losing an employee can range from tens of thousands of dollars to 1. Again, happy employees are more productive employees, which positively affects the bottom line.
As it turns out, goal-setting is the first step toward eliciting greater productivity, commitment and dedication from employees. This is hardly a new or revolutionary theory.
Like any sensible small business owner who knows a thing or two about motivational strategies, he saw a direct correlation between setting goals and completing tasks — as long as the goals are well-defined and challenging.
SMART, meaning that goals should be specific, measurable, attainable, relevant and time-bound. Goal Setting Takes Root Early Setting goals for your business may seem as natural to you as checking your phone for messages within the first five minutes of waking up in the morning.
What do you want to be when you grow up? Where would you like to go to college? What will you major in? And later, as the idea of entrepreneurship captured your imagination: What type of business can you see yourself managing?
How will you distinguish yourself from the competition? What does your five-year plan look like? The intention in questions like these is clear: It is the sign of a motivated, disciplined individual.
You may not have to be a visionary, but being forward-thinking reaps multiple dividends if you have aspirations for your small business. More than management experts and theorists tout the importance of motivation and goal setting for businesses. So do psychology experts. Says Florida State University: Says the University of Minnesota: Some of the biggest names in the corporate and tech worlds — giants, by any measure — use goal-setting to stir employee action.
They just sometimes do so with a tech twist: But assuming that both an employee and boss like each other, trust and respect each other and work collaboratively, goal-setting can reap some positive dividends. Goals can be energizing forces.
With something to aspire to, the employee often becomes more productive. In fact, some field studies have shown that, given a choice between taking a break and scanning the internet or staying on the job, employees working toward fulfilling a goal stay on the job.
And when more challenging tasks surface, this employee is most likely to rise to the challenge.
An employee who works actively to achieve a goal is more likely to see and report shortcomings and weaknesses in a business. This type of feedback can be invaluable to a small business owner, who obviously cannot see everything and be everywhere at once.The importance of motivation can be seen through people being inspired to make a change in their lives.
For employees specifically, this might mean aiming to enhance their performance in the office, leading them to generally work harder and smarter, and allowing them to complete tasks efficiently, properly, and on deadline—all of which.
Jun 30, · Business owners need employees that are able to get the job done, because employee performance is critical to the overall success of the company. Importance of motivation in a business are as follows: Rensis Likert, while pointing out the importance of motivation, has called it the ‘core of management’.
Similarly, Allen while stressing the need and importance of motivation has observed that ‘poorly motivated people can nullify the. Aug 20, · If a gut feeling has led you to suspect a link between the importance of motivation and goal-setting for businesses, then your inner self is serving you well.
Goals can increase employee. capabilities and motivation of its employees, and the success and employee motivation depend on the ability of the manager who leads them, therefore, one can conclude that the manager’s behavior greatly influences employees’ behavior. Aug 20, · Sometimes, an employee who is pleased with the results of goal-setting may look for other ways to contribute to a company's success.
This “super-charged” employee is the type that any small business owner wants to encourage, if not groom.