Policy Change and Recommendations for Employee Motivation
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Introduction
Hardly all corporate people would want to venture into successful business dealing. Most of them would do everything that is within the bound of possibilities to make sure that their companies are not subjected to threats that may see them close down. As a way of preparedness, some would argue that you must have a secret saving account to outsource income to assist salvage business during a time of crisis. However, experienced businesspeople are not of this opinion. The question here is: what if the magnitude of the crisis that has hit your business is beyond monetary solutions? Most of the time, we need to engage various business players in solving some problems that might directly or indirectly involve them and do not necessarily call for the question of money. In a business environment, employees are the primary stakeholders because they drive the achievements of the set goals. For this reason, the management team must put a keen eye on issues that might negatively affect employee from operating efficiently, by promote incentives that will boost their morale. This proposal seeks to address the problem of employee motivation and recommend solutions to the problems.
Current Situation
Following a serious financial hit on the company, the senior administration decided to merger with the other company. The consolidation is taken to make sure that the company survive the hard time it is passing and at the same time be able to deliver the corporate objective. However, employees are currently frustrated by the uncertainty of working in a new environment with different employees without their knowledge of what has made them be in such consolidation.
Background of the Problem
The company is hierarchically structured, and the top management makes most decisions. As a hierarchy, the various stakeholders are organized in departments and teams. Information that affects the decisions of the company has to travel from top to bottom and from bottom to top thus slowing the communication across the departments. Also, departments are focusing on their own goals at the departmental levels rather than pursuing the bigger goal of the company. This has led to rivalries and selfish decision making. Of late, the common bonds in the company have weakened. The mutual interactions between the different company’s stakeholders have deteriorated thus impacting negatively to the delivery of the company’s goal.
Disconnect Between Company and Employees
There is a big disconnect between the company and the employees following the merge of the two companies. However, the senior administration is not in a position to realize that the changes in the company have brought uncertainty and ambiguity after bringing employees of two different companies to one place of work. These employees are facing many difficulties due to different historical backgrounds, practices, and experiences. The senior administration needs to motivate the employees and also provide them with a chance that will enable them to share their views regarding the consolidation. Following this disparity, the company should seek for a way of motivating its employees to avoid the risk of further casualties to the company. By motivating the employees, the company will have conveyed a stronger sense of company inclusion thus reviving excellent performance (Leibow, 2010). There are varies motivational approaches and recommendations the management should put in place to restore employees' motivation effectively.
To get the bigger picture of the proposed policies, let us first discuss the benefits the company will reap as a result of adopting the policies. Implementing them effectively helps the company to achieve the following:
Profit and revenues Growth
Recruit and retain top talent in the company
Inspire employees to perform at their peak
It is universally acknowledged that superior organizational performance is directly proportional to the recognizing and rewarding of employees for their superior performance. Most employers strive to optimize their performance according to the motivation they receive (Leibow, 2010). However, during such a tough time, it is not intuition that drives policy in the company but rather bottom-line results. The company has to work their way out to retain its best employees and recruiting top new talent in the market. It is the role of the senior management to examine what they need to give top talent workers to make them want to stay there as long as they have work for them to do. The company needs to strike a mutual balance between each employee's contribution to the company and that of the company to the employee. There is a current trend for competition to recruit and retain top talent. The company should best differentiate itself as an employer of choice by offering the nonfinancial components of its total reward package (Deeprose, 2006). It must prove its uniqueness by offering rewards that will not only meet employees’ needs but more so affirm strong values that make workers proud (Deeprose, 2006). It is argued that a company in which the total rewards are superior can keep loyal, high-performing employees despite lower financial rewards in comparison to other companies.
Project Plan
Combinations of policies are recommended to unlock the problem facing the company that entails both monetary and nonmonetary rewards.
Monetary Rewards and Motivational Schemes
The question of whether or not money is a motivator is one open to paradoxical arguments. The arguments for and against the subject of money as being a motivator always add up to substantiate one's claims. This is an open discussion that is hard to take a side. However, let us examine money when used as a motivator. The company should only use the money to recognize and reward employees where it deems necessary.
Salaries. One should not confuse wages as being a motivator; they are entitlements. The company should refrain itself from raising employees' salaries as a way of rewarding them. The problem with this approach is that the spirit of workers will be lifted and diminishes in a short while as the living expenses swell to meet the raise. Withholding an increase from someone who expects one can be very demotivating.
Financial rewards. The company should set up an atmosphere were employee expects a financial reward. Expecting a financial reward in the course of working can be motivation. For example, the company should set monetary compensation for someone who has acquired extra skill or knowledge within their means, which is relevant and can improve various functions in the company.
Occasional spot bonuses. The management should reward employees immediately after a noteworthy performance in the work-place as a form of an exceptional thank-you to the performer. This makes the recipient feel appreciated and that the management noted their efforts no matter how minute it may look to others. However, frequent use of spot bonuses may occasion it into entitlement sphere, so its use should be timely and deemed appropriate.
It should be noted that money acts as a scorecard as far as the discussion concerning motivation is brought into the equation. It is one-way people can attribute their achievement and their importance to the company, as well as their standing before others in their community. Incidentally, money should not be the only way of keeping score. There are other things people can attribute their measure of motivation that money cannot measure up to at all. This brings us to the discussion of non-monetary rewards.
Nonmonetary rewards and Motivational Schemes
It is difficult to come to a conclusion to a general need that all or at least most people are motivated to. One might be driven to fulfilling basic needs such as acquiring shelter and food. Perhaps the loftiest need would be striving to realize one-self point of self-actualization. According to Brunges, and Foley-Brinza, (2014), what drives people the strongest varies at an individual level and might be dictated by the situation that person is in. At any given situation, an employee might be driven primarily by the need for esteem, socialization, achievement, power or security. At times, it can be a combination of these factors. It is the role of the manager to examine what each employee values most, and that provides the greatest urge to improve and maintain performance (Rose, 2011). Cultivating such desires will contribute most significantly to the fulfillment of that employee strongest strive.
In the attempt for motivation and reward policy implementation, the company should consider the following approaches:
Award certificates of performance. The management team should lay out a strategy where employees are being evaluated in their fields over time and be made aware of the evaluation and that at the end of the year the best will be awarded a certificate for being the employee of the year. The evaluation process should be broken down to offer a proper inclusion where every sector will have something achievable to struggle for.
Regular meeting. Top management to set aside time say 40 to 60 minutes per session on a weekly basis so that various stakeholders of the company can be able to share freely. It is during this meeting that all employees can share their challenges and propose the best solution for these challenges according to their will. It will bridge for the open door policy in the company.
End of year retreat. It is arguably the most long-term solution for making your employees want to give their best of efforts. The notion that they will have to ride on the shadows of their hard-work some day in the future will be a high motivation which will translate to peak performance.
Peer to peer motivation. Carlson business unit case study serves as the best example we should emulate. Under Deliver Our Family of Business, in Carson's recognition website, when you click on CarlsonRewards and fill out a Bravo recognition form, describe the person’s contribution and send the Bravo (Deeprose, 2006). The nominee accumulates Gold points for every Bravo left on them. This proposal seeks to strategize how employees will be able to accumulate such points and make them redeemable for merchandise and gift certificates.
Qualification and Experience
The first-line managers and the middle-level managers can roll out and implement the proposed policies. However, they first have to undergo training to gain the insight of the whole idea and be able to own it so that they feel part of the new dynamics (Jensen, Doug, McMullen, Tom, & Stark, 2007).
Estimated Budget
Implementation of the proposed recommendation is achievable within a limited budget constrain.
Retreat and per diem $ 50,000
Merchandise and gift certificates $ 5,000
Training program $ 12,000
Spot bonuses $ 10,000
Total Direct Costs $ 77,000
Conclusion
Motivation and reward is the perfect way of compelling employees in a working atmosphere as long as you have something you want them to do it for you. Doing so is a way far from financial muscle as there are more thing that can make a person feel motivated and rewarded in a way that money cannot measure up to it. The company needs to implement the proposed policy change and recommendations to motivate their employees to fix the current problem caused by the business dynamics.
References
Brunges, & Foley-Brinza. (2014). Projects for Increasing Job Satisfaction and Creating a Healthy Work Environment. AORN Journal,100(6), 670-681.
Cathy Leibow. (2010). Engagement by design; Reward and recognition programs proven in increasing employee engagement.(Quality of Life). Employee Benefit News, 24(10), 48.
Deeprose, D. (2006). How to Recognize & Reward Employees : 150 Ways to Inspire Peak Performance. New York: AMACOM.
Jensen, Doug, McMullen, Tom, & Stark, Mel. (2007). The manager's guide to rewards what you need to know to get the best for--and from--your employees. New York: American Management Association.
Rose, M. (2011). A guide to non-cash reward : learn the value of recognition, reward staff at vertually no cost, improve organizational performance. Retrieved from https://ebookcentral.proquest.com
