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Ask any CEO what is the biggest asset their company has and they are not going to tell you it is the $500,000 worth of machinery or the inventory they have stored in the warehouse. Employees are the most valuable asset any company can have as long as they are motivated and willing to give their all to help the company prosper.
Competition among businesses has always been tough and it is always beneficial to be as productive as possible. In plain language, that means getting your employees to produce more in less time. It means encouraging your employees to suggest ways that would help operations run more efficiently. When employees and management are on the same page, businesses have a better chance of being successful.
While management styles differ on how to motivate people, most experts agree that the old days of being a strict disciplinarian and demanding that each employee meet a quota, are no longer appropriate. It is true that some people are only motivated by money, but the majority of employees will work for less money if they feel wanted and appreciated.
The work environment has a lot to do with how happy an employee may be. Happy employees work harder and want to do the best job for their employer. If your company has a profit sharing plan, it is definitely in the interest of the employees to work hard so they can share in the profits when the company performs well.
Beyond money, there are other ways to motivate your employees to give their all. You should certainly have a way for the people who are working for you to give feedback. Whether it is an open door policy to your office, a suggestion box, or monthly meetings between management and staff, communication is key to any good relationship.
At many of the most successful high-tech companies out in Silicon Valley, employees enjoy a campus like setting for their work environment. Extra amenities like an on campus gym or free daycare service for employees with young children, really makes people want to come to work. Some companies have cafeterias where the employees eat for free!
When it comes right down to it, the best way to get the most out of your employees is to treat them fairly and with respect. You should make them feel like they are an important part of the company. Good pay, good working conditions, service awards, and a chance to advance in the company all make a difference. Appreciate your employees and they will do their best to help the company succeed.