Managers of a business set some strategies to meet the goals of the business. They use some motivators to motivate their employees. They give non-monetary forms of rewards to motivate workers. The managers realize that money alone will not create motivation for the employees and will not make the employees more productive. Managers follow these motivators to ensure the employees work according to the strategies.
Fringe benefits (perks)
These non-monetary incentives are used by businesses in addition to normal payment systems in order to give status to higher-level employees and to recruit and retain the best staff. Perks or fringe benefits generally include company cars, free insurance, pension schemes, discounted company products and interest-free loans.
It is a commonly followed practice these days, in which an employee is moved or rotated from one department to another at regular intervals. For example, the Finance Manager is temporarily shifted to the marketing or production department. Job rotation is extremely useful in raising the level of job satisfaction for a worker and plays a key role in career growth as well. The employee is provided with an opportunity to learn new skills and have an idea about the overall working of an organization.
This method involves passing down the authority to perform tasks. The empowerment goes further by allowing workers some degree of control over how the task should be carried out.
Training involves employees being taught new skills or improving skills they already have. It is essential to have a well-trained workforce because it enhances the image of the company as the employees are considered to be the true representative of a business organization. A trained workforce helps in reducing the chances of accidents which may occur due to the negligence of untrained workers. A trained worker performs the given task in a cost-effective manner, minimizing wastage. A trained workforce results in a low turnover since there is a high degree of job satisfaction. Chances of business problems arising due to an induction crisis are also reduced.