Over the last couple of weeks, we have read about accounting and decision making. We are going to apply these concepts to your idea from week 2. Provide a cost/benefit analysis for your idea. Make sure to mention any sunk or opportunity costs involved in the implementation of this program as well as the long-term increase in projected profitability. You are permitted to use fictional numbers as far as costs go, but you should provide research to support any opportunity costs or projected profitability. You can find industry averages for various program costs and projected benefits.
This does not need to be written as a formal research paper, but all research provided does need to be cited in APA format. You may write in the first person because you are presenting your own ideas. You do not need to provide an abstract, but you do need an APA formatted title page and reference page. Your paper should be a minimum of 2 pages (approx. 700 words) not including the title and reference.
IMPORTANCE OF MOTIVATING EMPLOYEES 4
Importance of Motivating Employees
Importance of Motivating Employees
Motivation is a vital tool needed for an organization to attain its goal while the employees feeling appreciated and part of the vital process of attaining the vision and mission of the firm. Motivation refers to the inducement and incitement of the employees by the management of any organization so that they can act or move in a desired direction (Varma, 2019). Most managers induce motivation in an organization to ensure that attain predetermined goals. According to scholar, the concept of motivation revolves around three key aspects, which entails the motive, motivation and motivator. Motive explains the state of employee’s mind that plays a key role in controlling behavior towards attaining desired outcomes. Scholars identify that motive will in most cases related to employee’s needs. Subsequently, researchers explain that motivation is the process in which the managers stimulate actions that correspond to the identified worker’s needs (Shoraj & Llaci, 2015). Through utilizing the identified motive of each employee, the organization is able to initiate the motivation process hence ensuring that employee move in the same direction. Through the motivator, the organization management is able to attain the immediate needs of workers. The paper will focus on the various techniques vital in increasing motivation in the company.
One of the key ways that I will utilize to motivate employees is through creating a mission-driven organization. Employees in any given organization work in accordance to the support attained from the CEO and management team. Through inspiring purpose in the employees, the goals and missions of the firm will be clear. According to Lee. & Raschke, (2018), the best way to create a mission driven organization is by making the goal and values clear from the top to the bottom of the company. Employees need to understand that they play a vital role in steering the company into attaining its mission. Involving the employees from the top to the bottom ensures that all the people realize the work each one ought to accomplish to stir the firm to success. The second technique that I will utilize in enforcing motivation amongst the employees is through fostering career development and personal growth within employees. Varma, (2019) argues that it is not enough to make the mission and values of the firm clear to workers to attain optimum motivation. Employees ought to feel that the organization looks out for their personal interests and goals. The management ought to conduct a questionnaire for each employee to discover interests and needs. Varma, (2019) identifies that modern organizations ought to provide tailored motivations to employees in response to the interests and needs. For instance, offering training to employees that want to further education in specific areas. Management teams in organizations ought to offer such specific motivations through finding out the interest of employees and proving it.
The third technique that I will utilize to motivate employees in the organization is through using the award recognition for individual workers. The management team will have the responsibility of identifying both team and individual efforts attained privately and publicly. The management ought not to wait for huge project to reward team player and individual employees (Varma, 2019). The company ought to reward employees on a regular basis to uphold the good performance. I will ensure that I hold regular surprise celebrations for workers and teams that perform well each month. For instance, I would buy lunch and offer dinner outs for employees that perform better each week. Employees ought to know that the management have the knowledge of their effort and input in order to reward them on weekly basis.
Motivation is not only vital for the employees but also benefits the organization in various ways. One crucial role that motivation plays for the organization is the ability to increase productivity (Shoraj & Llaci, 2015). Through motivation, the management team meets all the needs of the employees, which in return establishes the drive for employees to deliver at the height of their ability. Employees that work in a supportive environment will work with enthusiasm in meeting the goals of a firm (Lee & Raschke, 2018). Furthermore, motivation helps the organization attain its goal in a shorter period. Since employees know that once they attain their work within a certain period they will receive awards, they tend to put in the work to receive fringe benefits. In so doing, the organization will have the ability to attain its goal within a very short duration hence becoming successful. Motivation also helps the firm in ensuring that the labor force is consistent since it reduces employee’s turnover rates. Once employees know that an organization will cater for their customized needs and preferences, they will prefer to stay at the same firm rather than seek employment elsewhere (Varma, 2019). Employees will choose to remain in the same company and receive promotions rather than go to another company that will not take care of them. Satisfied employees means high rates of task completion.
Lee, T. M. & Raschke, L. R. (2018). Understanding employee motivation and organizational performance: Arguments for a set-theoretic approach. Journal of Innovation & Knowledge (1)3, Pages 162-169
Shoraj, D., & Llaci, S. (2015). Motivation and Its Impact on Organizational Effectiveness in Albanian Businesses. SAGE Open. https://doi.org/10.1177/2158244015582229
Varma, C. (2019). Importance of Employee Motivation & Job Satisfaction for Organizational Performance. International Journal of Social Science & Interdisciplinary Research, 6 (2), pp. 10-20
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