Audio Transcript
The Potential Code: Element 4 - Motivation
Wondering what sets the best companies apart? Many companies will say it’s the motivation in their teams.
In fact, a recent Korn Ferry research study found that 39% of the World’s Most-Admired companies had top scores for engaging and getting the most out of their people (compared to 23% of other companies).
And that higher motivation resulted in 2.4% higher revenues compared to those organizations with lower scores.
Of course, all this begs the question - where does that motivation come from?
Well, and this probably won’t come as a huge surprise - in many cases motivation starts at the top.
Simply put...leaders have a huge role to play.
In fact, among those working in organizations with the best climates 34% said they felt motivated to go above and beyond their formal responsibilities, unleashing their own potential (as well as their organizations’ in the process).
And motivated teams don’t just feel good, they also do great work. In companies with the highest engagement scores, over half of all employees said their job brings out their most creative ideas, making them more innovative as well.
So, the point here is obvious - having motivated teams has some big advantages.
The question is – how can you boost (or further boost) motivation in your organization?
Here are four strategies from Korn Ferry’s POTENTIAL CODE that can help...
First...create the opportunities. Give your people challenging, interesting work and they’ll be more engaged, stretch their skills and have the chance to develop new ones.
Remove the bureaucracy. Allow everyone to maximize their potential and cut out any poorly designed processes or institutional schemes that might give some people more opportunities than others.
Another thing you can do is let your people lead the way. In other words, empower your people to come up with alternatives if current approaches aren’t working...and that will make them feel even more invested to go the extra mile.
And lastly, quickly reward ambition and success. If there’s an employee who has shown potential and risen to the challenges you’ve put in front of them along the way, be quick to reward them. And immediately give them a bigger, more rewarding challenge to face.
Do those things, and you’ll begin boosting motivation and start reaping all the tangible (and intangible) benefits of a motivated organization.
