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  • Best motivation for employees

    Daniel Engels
    79 replies
    What's the best way to motivate employees? - Higher base salary - KPI-based bonus - Stock options - Flexibility & work from home - Company mission & values Of course, most companies rely on a mix of these. But if you had to choose only one option?

    Replies

    Johan Steneros
    I think values and making a good and fun working environment. People will leave if they are not happy at work even though they are getting paid well.
    Daniel Engels
    @jsteneros I heard many investment bankers leave after several years for this reason
    Aleks Dahlberg
    Mission and values for sure, this steams into things like giving them leadership or ownership over projects, give them opportunity to see value and then back that
    Daniel Engels
    @aleksdahlberg in other words, a horizontal hierarchy and ownership, right?
    Aleks Dahlberg
    @daniel_engels Kind of, people feel more valued when the things they work on have value to them. Ways to inspire that can be found in giving responsibility and ownership over projects.
    Chrystal Cienfuegos
    A long commute sucks the life out of people. And some of us can be much more productive without an hour spent on hair/makeup every morning. I think managers underestimate both of these things. Designate a day for cameras on and keep them off the other days.
    Chrystal Cienfuegos
    @daniel_engels Definitely. I didn't mean to make that sound full-time.
    Daniel Engels
    @chrystalnicole I still think some office presence is important to keep the team spirit. I'm in favor of a hybrid mode, rather than full-remote.
    Alex Leroy
    It is a matter of personal preference. So try to send the survey to your employees.
    Daniel Engels
    @alex_leroy the problem is, you often have to develop the compensation scheme before you hire the employees!
    Rahul Mohanachandran
    It is super difficult to choose between KPI-based bonus and Flexibility & Work from home. I chose KPI-based bonus option for one reason, other options on the list like Higher base salary, Flexibility & Work from home can give a boost in motivation when an employee receives it for the first time. Once the employee gets it that will soon become the new normal and the baseline for their employment so the motivation from these two factors can diminish over time. KPI-based bonus will be a good way to keep the employee motivated as there is consistency and the KPIs will be readjusted regularly.
    Daniel Engels
    @rahul_mohanachandran people tend to appreciate less what they take for granted. It's important to keep the team members aligned. Defining accurate and objective KPIs isn't easy, though.
    Misha Krunic
    Lately, there has been a lot of buzz surrounding WFH, and that's a good thing. However, I think that the real motivation comes from good interpersonal relations in the company, and having everyone work on something they're passionate about. I feel like the second point is especially important, because when looking at things long-term no amount of money, bonuses, or benefits is going to help someone if they don't like what they're doing.
    Daniel Engels
    @price2spy or even worse, you'll only keep poor performing workers while the A-players would leave.
    Ankur Mehrotra
    I wouldn't choose a single option. Each employee is different and has different needs based on their stage in life. People get motivate when we can offer them purpose, you know that thing which makes them feel that what they are doing is worthwhile...to them!
    Maya Ben Zid
    A remote working solution.
    A remote working solution.
    If we are talking about the motivation to join the project, then I'd go for flexibility. If it's about the motivation to do your best day in day out, I've seen stock options do well. To me, it's about the team and the culture - when everyone around you is doing their best, the desire to do the same is contagious.
    Daniel Engels
    @maya_ovice the question was about motivation of team members. I appreciate flexibility, too - although its dangerous without proper management.
    Hemant Warier
    There is no one-size-fits-all answer to this question, as the best way to motivate employees will vary depending on the individual employees and their specific needs. However, some common methods of motivating employees include providing them with clear and achievable goals, offering them recognition and praise for their work, and providing them with opportunities for professional development.
    Daniel Engels
    @hemantwarier that's true - but also ather vague.
    Avi 🤝
    All of the above, as you rightly said. Plus, I'm adding another, a bit novel, option to the discussion: A share of future cashflows, like a royalty, limited based on the employee's contributions in the past and the present. This is enabled by VenEx, a SaaS product we just launched to this community today! I'm not sure if this is "the best benefit", but it could be one of the best ways to build motivation and ownership in a way employees can visualize real wealth-creation from the company's growth, esp. if the returns from stock options are too far out and unpredictable. Let us know what you think of it!
    Rucha Joshi
    Flexibility is definitely one of the top ones. Especially post lockdowns.
    Harshit Chawla
    I will choose Flexibility &work from home
    GamerSeo
    The best motivation is always the right bonus. Assuming that work in the company is pleasant for every employee because the atmosphere in the company is the basis.
    Sophia Emma
    I will definitely choose flexibility.
    Daniel Engels
    @sophia_emma I guess after Covid19, even more people appreciate flexibility and remote work policy
    Enola VEDOVOTTO
    I would also say, in addition to the comments, the trust and very human side of the company.
    PrepaidGiftBalance
    If you can, take them out to lunch or treat them every now and then. Maybe even make them some food, cookies or something, and bring it in. It's a small gesture, but it shows that you care. Another thing would be to stay positive and don't always talk them about work. Keep up with their lives and ask them how their family is and such. Just generally be a nice person. official website
    Daniel Engels
    @prepaidgift_balance well, of course lunches and small cocktail parties are helpful - as part of friendly atmosphere at workplace. But I don't think it's a major factor in the long run. It's even possible to build a full-remote team with a strong motivation.
    Radhe 360
    Much thanks to you ever so for you article.Thanks Again. Fabulous.
    After COVID, I believe the best motivation for employees is Flexibility & work from home facility.
    Daniel Engels
    @qudsia_ali I also felt there was a general shift towards flexibility after the COVID.
    Katie Chen
    I still come back to article by Katie Dill — people are motivated by different things. https://medium.com/@katiemdill/t...