Non-Monetary Rewards in the Workplace Employers want maximum efficiency from there employees, Non-monetary rewards can help achieve this goal. Maybe, the most common reward an employer can give to its workers is verbal recognition. Communicating with workers on a daily bases, letting workers know how there performance has progressed on a professional level, has shown to boost morale in work environments. The occasional "Thank you" can help promote loyalty and positive performance from employees. Employees that feel appreciated at there job seem to have better attitude, work more hours and appear to have better attendance.
Having an excellent customer service will motivate the organization’s employees. This will result in a win-win situation because a happy employee is a productive employee. When a motivated employee helps customers he/she will ensure that the customers are satisfied in a way that exceeds their expectations. These customers will then go out in to the public and share their experience with friends who will eventually patronize the business. In the long run the business gains more customers and increases its profits.
This is because, employees with high intrinsic motivation tend to have greater job enrichment and satisfaction. A company with more intrinsic motivated employees also tends to have low number of employee’s turnover which can increase the profits for the company. Intrinsic motivation can be developed by encouraging the employees with the combination of praise and positive feedback, helping the employee to increase their self-efficacy, make the job environment joyful, fun and productive, provide challenging task and make the task meaningful so, it worth the time and energy which have been given by the employees.
Therefore, when the management discusses improving employee retention rates, the initial topic is often higher salaries and bonuses. That is partly valid, because money is a key element; as SAS can attest, retention efforts can be very effective if they focus on more ways to spend the money than just increasing salary levels. With its strategy to boost employee retention, the company has created a culture and programs that encourage and drive employee loyalty. According to Pfeffer (2001), "Your profits come from loyal customers who do business with you for reasons other than just price. Customer loyalty is a consequence of loyalty from employees who produce great products and offer great service.
In today’s work environment, Job Satisfaction is finally being highlighted as a major part of an organization as firms can now see the benefits that it can bring. Job Satisfaction can be described as, “A sense of inner fulfillment and pride achieved when performing a particular job. Job satisfaction occurs when an employee feels accomplished something having importance and value worth recognition; a sense of job.” (Wicker 2011). In this current paper, we will discuss the rise in the focus on job satisfaction and the benefits that it has bought to firms that on it. Job satisfaction has been defined as simply as, “the degree to which people like their jobs,” (Spector, 1997) while some definitions have gone more in-depth in the descriptions
Why Diversity is a Profitable Initiative: When aligned with Organizational Objectives, diversity can be a powerful contributor to the organizations competitive advantage.” (Best practices page 9) A diverse and inclusive organizational culture makes strong business sense. Highly cohesive diverse teams can make more creative decisions that enable a company to reach out to a broader customer base. By creating an inclusive culture where employees respect one another’s unique differences, an organization is broadening its opportunity to serve their clients more effectively. When consumers feel that they are represented and valued by an organization, they become attracted to it and are more likely to be loyal to that corporation. This increases the organizations bottom line and provides a positive presence within their community.
Employee Motivation Employee motivation is a key factor within a successful organization or business. The quality of work that people express is often a result of the motivation they possess. Companies have a variety of ways to motivate their employees, as well as to keep them satisfied. Businesses set substantial amounts of goals, and when employees reach those goals, they should be recognized within the company. To know that someone appreciates your exertion is a great feeling.
Organizations maintain employee satisfaction by creating work and tasks to enhance job satisfaction, increase motivation that aligns with the company objectives, and many other ways that will be discussed. Job satisfaction is important to both workers and the organization. For an organization, high levels of job satisfaction of its employees make for a workforce that is motivated and committed to high-quality performance. Research shows that an increase in employee happiness has a direct impact on productivity, which in return is a direct connection to a successful business. However, job satisfaction does not come automatically to an organization; it need... ... middle of paper ... ...stress is when the company is not doing well and has to downsize, the workload is disbursed throughout the remaining employees making their job harder.
This vision may not seem like a long-term goal towards the company; However, increasing the number of loyal customers in any business will increase the revenue over time. Additionally, having loyal customers will boost the reputation of an organization and allow new faces to experience what loyal customers were susceptible to. While working at this organization I was aware of the mission and visi... ... middle of paper ... ...st paced, yet comfortable work environment that every employee will be honored to work at. In conclusion, this organization should focus more on their employees and less on profitability. This reasoning comes from the idea that efficient and appreciated employees will dictate the future of an organization through their quality of work and their outlook on the company they work for.
When a company treats customer, vendors and each other with fairness it can only increase profit to any business. Servant leadership offers to establish vision, standard procedure, cultivating customers, and continuous growth (Coetzer, Bussin, & Geldenhuy, 2017, p.1). The employees are performing at a high level because they are a part of the decision-making process, they are producing a quality product and building relationship with the vendor, customers, and each other. There are some benefits from this style of Servant leadership can be implemented in profit and bottom-line organization. For the success of any company that implements servant leadership, they must first walk the walk they are presenting.