Requested Blog Post: Motivating Employees With Transparency (published 1/6/14 on the MTM Recognition performance blog)
Business is, by its very nature, ever-changing. So is the science and art of business leadership. Modern corporate structure has evolved over the years as technology, resources and opportunity has changed. Today, it takes more than just the biggest factory or fastest assembly line to be successful. The key to thriving in today’s competitive business world is a fully engaged work force.
A motivated employee is a productive employee.
Long gone are the days of clearly defined lines between the C-suite corner offices and the production floor. Business leaders are now developing corporate culture, involving all employees in decision-making. Some are even opening the company ledgers to the entire staff, not just the top executives. This was unheard of less than 10 years ago. So why the change in approach and attitude? It works!
Motivating employees (especially millennials) takes more than a paycheck, vacation and a benefits package. In fact, the younger an employee is (under 30) the less motivated they are by just income. They want to be a part of something, valued for their ideas and thought of as important to company success. It’s not about paying dues anymore, but instead being able to create an individual path to success, be part of something big and contribute from day one.
Many CEO might be resistant to sharing too much information with everyone in the company, or not see the value of doing so. There are real advantages to an open book policy beyond empowered employees. Fresh thinking come from employees who feel more like partners than underlings. Customer feedback and market data gets back to the boss faster in an open system. Fraud, waste and abuse can better be controlled when everyone understands the true cost to the company. When hard decisions have to be made – layoffs, cutbacks or other reductions – the employees know why it’s happening.
Corporate culture, team building and talent development is more than once-a-year retreats and memorizing the mission statement. You have to create trust, empower everyone and embrace true transparency. That’s how you build a highly motivated, all-in, 110% at all times workforce.