Do you want to know what the secret is to motivated and engaged employees? If you're a business owner or a business leader, in this video, I'm going to take you through the top four study-backed motivators for team members in your team.
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Do you want to know what the secret is to motivated and engaged employees? Well, if you're a business owner, or a business leader, in this video, I'm going to take you through the number four study-backed at number four top motivators for team members in your team. If you're new to this channel, my name is Pete Moriarty and we are a small business consultancy. We help businesses with their tech and their teams, making sure you, your team, your tech, your systems are organized so you can build a productive team and a successful business. So if you haven't already had a look around the channel, well check out some of our other videos. And if you like what we do, hit subscribe. And if you like this content, make sure you give us a thumbs up as well. Now I came across a pretty phenomenal way of working with motivating and engaging employees in a workshop from one of my favorite authors by the name of Verne Harnish. And you know, for many of us running businesses or leading teams we're interested in getting the most out of their employees, we want to make sure that they're feeling good about the work that they're doing, we want to make sure that they're productive. And hopefully, once they're a part of our business, well, not only if they feel like they're in fair exchange, and they feel like they are getting a good deal from working the business, but they're going to actually contribute to the success of the business and contribute to the success of the team. And they're gonna put in all of their effort that we want, right? And so how do we make sure that we're actually motivating our team members? How do we connect with them, and ensure that we are giving them exchange that is, on their terms, something that's going to work for them, and for many people in the kind of old way of thinking with business, they would immediately default to just thinking about money, right? Oh, we'll just pay them more or, you know, just make sure that you're paying above market salary. And that typically, is the first thing that business owners will go to. But that's actually not at all the number one driver for motivation, or number one driver for engagement from team members. And there have been studies that have been done. And unfortunately, I do not have a reference for the study. But if I ever chase it up, I'll put it down in the comments below. But these studies have actually determined from employees what their motivators are, what their drivers are. And so I want to actually share some of that data with you today and share from this data, how you might be able to implement it with your team as well. So if that sounds good, stick around, we're going to jump into it. So I'm going to share the top four motivators for employees. Based on the study that was done that was shared to me by Verne Harnish and interestingly, coming in at number four is compensation. It's the number four highest driver for team members. And if you think about this, if you've ever been in a situation, whether it's a job yourself, or whether you've been working on a project, or you've been around something where you've been compensated for your time, and you've had that, that sense or that feeling within you that you know what, this is just not worth my time, maybe that's doing something around the house, or maybe it's doing something inside your own business, and you thought to yourself, you know what, nah just not worth it? Well, it's pretty easy for you to have that feeling. Notice that disconnect, notice that that exchange is out of alignment, and want to shift yourself be motivated then to shift yourself to another reality or another situation. Now for an employee that might mean literally exiting your business and switching to a different area of the business or a different role in the business. Or it might mean stepping away from your business completely, it might mean that they go and look for a job somewhere else. But that feeling of I'm not being compensated well enough for my team, for my time is important. But it's not by far the number one motivator at all. Next up, number three motivator is appreciation and recognition. Am I being appreciated by those around me? Am I being recognized for who I am and for what I'm doing? Now, this is important, because it's not just from peers but it's also from superiors as well, that your team members, your staff want to be recognized. And so what I try and do is find ways inside our business to really recognize our team members, both fostering that peers are recognizing each other. But also that superiors are chatting out as well. Now, what I like to do is automate some of this. And so when our team, you know, do a good job for one of our customers and our customers gives us a thumbs up on their customer service satisfaction rating that actually gets broadcast to the whole team inside our Google Chat. And we built a little app that does that. And we even help set that up for other businesses as well. But also, there's important thing to make sure that your team members are actually recognizing each other as well. And so whether you do this during your huddles, or your weekly meetings, or maybe even in your all hands, and I love doing this in the all hands, we get the whole team together. And in our company, we call it the genius of the week. And that's an opportunity for team members to actually shout out their peers shout out their colleagues and share something that they love that that team member has done typically in line with company values, but that might just be sharing something that they appreciate and have gratitude for with a team member and having that culture of shouting each other out and sharing what they love about their other colleagues and team members creates this culture of appreciation and recognition. And a culture of appreciation recognition is really important in a team because it breaks down the feeling of oh I need to do well. Otherwise, I might not be liked by my team, or perhaps even I need to compete with my team, I would just start breaking down those things. And you're gonna find that you have a much more cohesive culture with your team and your team more likely to perform well as well. Although performance is everything at the end of the day, ideally, for me, I'm happy if my team feels like they're doing great job, and they're going home at the end of the day feeling like they're a winner. And ideally, they want to feel that from their colleagues as well, not just their superiors, Okay, number two, is called line of sight. This is the second most important motivator for team members to feel like they're in good exchange with a business. And what line of sight means is, do I feel like my contribution to this business is contributing to the overall goals and direction of the business. So imagine if you were a bank teller, and you were working in a massive organization, like a bank, and you had literally 10s of 1000s of employees, but every time you help someone with a deposit or withdraw, you felt a sense of disconnect a sense of disconnect from what the whole organization of the bank is doing. Now, if you are an employee in an organization, and you don't really feel like you're contributing to where the business is going, or you don't really feel like you're a part of a larger hole, or pretty quickly, you're going to feel disconnected, and potentially even demotivated as well. And so this is why it's the number two most important motivator for team members is to have that line of sight to know that what each person is doing on an individual basis on a day to day basis, it's actually having some effect on the overall goals and direction of the business. Now, personally, I'm a big believer in a business being transparent with its strategy. And also its finances as well. And not everyone agrees with me on this quite often I'll have business owners who say, Oh, no, that's, that's scary. Peter, you shouldn't be sharing finances with a team, because then they'll know how much money you're making, they'll know exactly where the business is at or, you know, maybe they'll be concerned, you know, about the health and the safety of the business. And I would say yes, it's important to be mindful about exactly, you know, what details you do share with the team. The business is in financial strife one month, but you know, it's probably going to turn around in another month or two, it's probably not the kind of thing where you want to ring the alarm bells. And, you know, let the whole team know that everything's in strife in the business. But I am a believer in sharing where things are at on a macro level. So on a larger level for the team to know, what are your strategies? Where do you want to go this year? Where do you want to go this quarter? Where do you want to go this month? And what's going to be implemented in terms of strategic projects? That's something that everyone in the business should really know of by heart. And then number two, on the finance side of things? Are you on the team to know and get a feel for how the business is doing? Are we doing really well? Do we need to put in more effort do we need to change our strategy. And so for me, I think it's really important to share that so my team can have line of sight. And for the businesses that I'm involved in, it's really important to me to share and make sure that those who are a part of the business actually can see where the business is going. It allows them to see and have a bit of a feeling of ownership, that they are actually a part of the business. So you might not agree with me there. But this is the number two most important motivator for team members. So I think it's pretty important that you consider it. Okay, we've made it to number one, number one most important motivator for team members is do I get to play to my strengths? Am I seated in a position where I can actually play to my personal strengths? And this is an important one because everyone wants to do work that is hopefully aligned with purpose, that is aligned with who they are as a person, that are aligned with what works for them. And I know that you know, not everyone in the world has the luxury of being in a self-actualized position where they can seek out work that is super meaningful to them. But for most people who are working in modern businesses, they're actually pretty interested in making sure that this is something that works for me. And so for me, it's important for my team members have I got them in the right seat of the bus so that they can perform at their best because I know when I've got people on the right seats of the bus, first of all, you're gonna have the right people on the bus. But when I've got people on the right seat to the bus, then they're going to be playing to their individual strengths. And they're more likely going to enjoy the work that they're doing each day. If you feel like you're doing something that you're really great at every day, but you're more likely to perform better, you're more likely to have pride in your work, you're more likely to be proud of the work that you're doing and therefore probably share it with your team members, share that good energy with your customers as well. And all of that is great for the business, but it's also great for the individual who is a part of it. So there we go. I've covered the top four motivators in order for each person who's working your business number four is the compensation. Okay, how much have I been paid? Is this actually worthy of my time on? Number three – Am I being appreciated? Am I being recognized by my team members? Number two is line of sight. Number 1 – Am I playing to my strengths? So if you're looking to motivate your team, if you're looking to get more performance from your team, it's probably going to be a combination of each of these different qualities of each of these different areas for you to improve that performance and work out with your team. So I'm curious to know of these, which one are you interested in implementing right now? Which one would you like to work on in your business right now, drop a comment below. And I'll do my best to reply to your comment. But I'd also like to know, if you have strategies, or how tos, or more practical implementations of these that you're going to try out with your team. If there's anything that you're inspired to do with your team right now, drop it down in a comment below, and I'd love to hear it. Thanks so much for enjoying this content. If you'd liked what we're doing here, give me a thumbs up. 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