Motivating Your Team

Many financial advisors have achieved great success and have grown big in business, we have a team of people who help us sustain the scale which we have achieved. However, we often face troubles with our staff struck with low productivity, low work ethics, poor quality of work, and of course high retention, which put together hampers the growth of the business. The most evident solution that may occur to many of us would be a pay hike or a fat bonus, but this solution is not sustainable for a very long time. Getting the best out of your employees, it isn't just limited to remuneration, rather it is way beyond the pay cheque, the secret is job satisfaction, creating a team of happy and motivated people.

So, how do you go about keeping your employees motivated? We have listed down few effective ways which can help you in this direction:

Appreciate their efforts, Recognize and reward success: When you praise an employee for his/her hard work and achievements, a rush of excitement runs down their spine. This way you are setting examples for others also, people appreciate being recognized and glorified for their efforts and performance, and a culture of appreciation in office motivates the staff to work hard. Also, when your employees commit genuine mistakes, encourage them to learn from their mistakes, instead of being harsh on them.

Amiable environment: A clean work station, a comfortable chair, a pleasant working environment, makes a difference. Give them opportunities to connect with people and socialize. You can take them out for a team lunch, give them opportunities to work together as a team, encourage discussions among people, which may or may not be related to work. The idea is to create an environment which can make the employee look forward to coming to office the next day.

Let them know they are important: Encourage employees' participation in matters that matter. Seek feedbacks, suggestions, their inputs on client handling and while developing business strategies, since they are engaged in client interaction for most of their time, their inputs would be relevant on one hand and will motivate them on the other. Also, pass on the positive feedback that you may receive from the clients and let them know they are adding value to someone's life.

Employee self development: Give your employees opportunities for self development, provide trainings which can help them upgrade their skills, help them gain knowledge about the industry and products, thus accelerating the value they can contribute to your organization, and increasing their worth from a career perspective.

Quality of Work: A major factor which can keep an employee happy and motivated at work, is Quality of Work. Trust their abilities and give them challenging tasks, tasks which are important for the organization. When the work is challenging, it is likely that the employees will put in extra efforts and consummation of complex tasks will give them a sense of fulfillment, which will keep them motivated. Repetitive tasks can also put off people, give them opportunities to engage in different and more advanced activities, so as to break the monotony at work.

When you give them responsibility, give them authority as well: A top down approach may not be sustainable with the millennial population. Let your employees decide the strategy they are going to use to achieve their targets. Help them, guide them, advise them, but do not micromanage, let them take decisions, let them brainstorm and find their ways. This approach will create a sense of ownership within them.

Pay as per the industry standards: Money does matter, and at the end it's money which we all are working for, so do not underpay your employees, no matter how happy they are, they won't stick for long if they aren't paid in line with the industry standards.

Your leadership: Lastly, you play a very important role in effectuating the above and keeping your employees happy, by transmitting a happy and a positive vibe. Your employees look upto you, they get influenced by your ways, if they see a happy, optimistic and hardworking leader, they'll follow suit. You have the ability to shape the organizational culture to a large extent.

To conclude, motivation is the primary factor behind people who work hard and are productive.
When people are happy in their jobs, satisfied with their work, they rank high on the productivity meter.
A combination of the above can help you motivate your employees, let talent retain and grow.

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