Businesses are full of people who are motivated by recognition. . .
Humans are naturally propelled forward by seeing and hearing the value of what they do. Money and benefits are great, but many people just want regular feedback from their leaders on their performance . . .
Here are some compelling stats that challenge team motivation, under performance and I have included a quick tip for each one!
78% of employees said being recognised motivates them in their job. Source
My Tip: All leaders should spend time with their team at the cold face, not hiding in the office, and give feedback continuously.
69% of employees say they would work harder if they felt their efforts were better recognised. Source
My Tip: Implement a system to recognise work well done that is shared with your whole team, like a wins board, team email etc.
92% of employees agreed with the assertion, “Negative (redirecting) feedback, if delivered appropriately, is effective at improving performance.” Source
My Tip: When giving feedback use the positive – negative – positive feedback loop or the WCBB & WWW (What Could Be Better & What’s Working Well) process.
43% of highly engaged employees receive feedback at least once a week. Source
My Tip: Stop, check & correct with your team weekly.
14.9% lower staff turnover rates are recorded in companies who implement regular employee feedback compared to those where employees receive no feedback. Source
My Tip: If you want to retain your talent you must have a system that allows for 360 degree feedback on a regular basis.
So how does your business stack up?
What are you doing to improve these stats for your team?
As a leader, the most simple thing you can do is to make sure each person on your team feels valued. This is sometimes difficult to do especially if you are managing under performance or you are not confident to give feedback.
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