Motivating Your Key Employees

Keeping your great employees is always a challenge businesses face--especially small businesses. And, in today's economy, it can be even more difficult to retain those key employees.

So, how can you motivate your employees in order to achieve your vision? You can start by creating environment where anyone feels like a valuable part of the organization. Allow employees to grow and challenge one another.

Be sure to recognize where many go wrong..they start with scare tactics--making employees fear for his/her job. Or, sometimes they just throw more money or benefits at employees. Both are short-lived. While either of these may work for awhile, eventually, both wear on your employees and can work against you. You must address the actual issue, not just use a band-aid. Understanding your employees' values, beliefs and attitudes can help you find what truly motivates your employees. Here are a few tips from our business owners:

• Know the importance of balance. You should place equal importance on personal and organizational goals. You can bet your top employees will.

• Fair exchange. Your employees will weigh the difference between what they give versus receive. If they feel the benefits of being your employee outweigh the costs, they likely will become better performers. Unfortunately, the opposite can also be true.
  
  
• Develop a system of recognition for a job well done. This includes both tangible and intangible rewards. Praise improvement regularly. You’ll have to also do the opposite—there should be consequences for lack of action.
  

• Create a trustworthy environment. This helps employees understand your leadership. The goal would be to have a trustworthy relationship to and from employees.

• Manage in a team environment that praises team effort. Employees and management must recognize their dependence on one another to reach goals and satisfy their personal needs.

Of course, creating a plan for retaining key employees is important. You should begin to develop ideas--with your key employees--for an employee retention plan.