Motivative hot topic Essay Example | Topics and Well Written Essays - 500 words

Motivative hot topic - Essay Example Therefore, in the next few years, how managers recognize and meet the needs of their staff is going to be essential in talent retention. A challenge rises from if there is no money to improve their salaries and wages. However, money is not always the most effective motivator and, although it may provide a boost for workers in the short-term, there are other influencers that are more powerful in the long term, such as career advancement, recognition, and praise. Indeed, the chance to lead projects, attention from management, and praise from management are potentially more effective than a pay rise or cash bonuses. SMEs have a big opportunity to involve their staff in business development, for example by sharing how the enterprise is progressing with their employees and seeking for their input in business decision making. Appreciation and recognition are also vital, although this is dependent on the personality of employees. Thus, management will have to ensure that they know their employees personally since some employees may not like being in the spotlight, while others like public appreciation. The internet company Cloud Reach faced a similar issue during their initial years of operation, at which point they decided to motivate their employees by making the company a fun place to work. With some 60 staff, the company was voted as one of the best companies to work for in 2013. This shows that staffs work for a company where they are fulfilled, happy, and where they can be part of an exciting project. In this case, the team of workers are involved in developing the core values of their firm with promotion of personal growth, respect for individual workers, and the ability to share opinions. Therefore, for a company seeking to motivate its employees in the absence of cash for a pay raise, there are two major strategies that can be used; The first solution would be to involve the staff in decision making by