Motivation By: Doug Metcalf Phillip White Dustin Jordan 12/4/2018

What is Motivation? Motivation is defined as an inducement or incentive that encourages employees to yield the most efficient amount of work possible on the job. Many believe that money motivates people, but is that true? 12/4/2018

Topics of Discussion Does money motivate? If money does not motivate, exactly what does it do? How do you motivate without money being a factor? 12/4/2018

Is money a motivator? Let the numbers speak… Pay ranks 11th in a survey of what motivates workers (recognition and responsibility always rank higher than pay) Salary ranks 16th in a poll of very important items when searching for new jobs. 12/4/2018

Is money a motivator? Another survey concerning the top reasons employees leave their jobs listed “limited praise and recognition” ahead of compensation What the numbers show is workers would rather be recognized and thanked with kind words instead of with an impersonal raise or bonus. 12/4/2018

What does money do? Money often attracts workers to a company. Studies have shown that financial incentives will get people to do more of what they are already doing. Not better, just more. Money often becomes a psychological exchange for enduring a miserable job. 12/4/2018

What does money do? Money is often used as a tool to thank people. Money may have a de-motivating effect on employees Money does initially influence workers, but once their expenses are met, workers shift concerns to true motivating factors. 12/4/2018

What are these motivating factors? Respect Recognition Full appreciation for work done Feeling “in” on things Feeling a sense of worth Having interesting and challenging work Open communication Personalized and instant recognition Praise for good work Growth and development opportunities 12/4/2018

Top 10 ways to motivate without money being a factor? Personally thank employees for doing a good job--one on one--verbally, in writing, or both. Do it timely manner, often and sincerely. Be willing to take the time to meet with and listen to employees--as much as they need or want. Provide specific feedback about performance of the person, the department and the organization. 12/4/2018

Top 10 ways… Strive to create a work environment that is open, trusting and fun. Encourage new ideas and initiative. Provide information on how the company makes and loses money, upcoming products and strategies for competing in the marketplace and how the person fits in the overall plan. Involve employees in decisions, especially when those decisions affect them. Celebrate successes--of the company, of the department and of individuals in it. Take time for team- and morale-building meetings and activities. 12/4/2018

Top 10 ways… Provide employees with a sense of ownership in their work and the work environment. Recognize, reward and promote people based on their performance. Deal with low and marginal performers so that they either improve or leave. Give people a chance to grow and learn new skills. Show them how you can help them meet their goals within the context of meeting the organization's goals. Create a partnership with each employee. 12/4/2018

Questions What motivates you? What have bosses of your past done to motivate you? What are the best motivating factors? 12/4/2018

Conclusion Money is important, but it does not drive today’s workers to work harder or perform better. In essence, money does not motivate. Compensation is a right, but motivation comes in other forms. 12/4/2018