Motivate Your Startup Team For Greatness
Big corporations are very unpopular among the millennials. Young professionals usually prefer growing startups over the classic corporate work environment. Startups offer much more excitement and better career growth opportunities. If they manage to put together a great team, their business will grow at a very fast scale.
Most successful startups invest a lot of money in improving employee satisfaction. The dark side of every newly founded company is that nobody knows what the future holds. It can be very frightening to work in a company that can shut down in a week or two. That is why, in order to decrease employee turnover, startups need to keep their team motivated and optimistic. Here are some of the techniques that can help entrepreneurs to motivate their employees.
Strong Company Culture
Strong workplace culture does wonders for employee motivation. It is especially important in a startup world, where companies are facing a very high turnover. That is why successful startups are known for encouraging awesome cultures that are cultivated through a strong coworker relationship and a sense of belonging. When hiring new employees, entrepreneurs need to check whether they would be able to adapt to the company’s culture. New hires need to share the entrepreneur’s vision and associate their own interest with the company’s growth.
Organize Regular Meetings
Entrepreneurs should gather their teams on a regular basis. Meetings should be held at least twice a week. On Monday, team members should discuss their assignments for the next week and on Friday, they should analyze the previous work week and try to draw conclusions that will make them more productive in the future.
All team members need to be on the same page and by regularly meeting with their team, entrepreneurs are showing that they care for employees’ professional well-being. Startups that hire remote employees can use Skype or any other app that enables them to hold video conferences.
Keep Your Employees Informed
Since startups are changing at a very fast pace, employees always want to know how the company’s business is going, so they do not end up unemployed. Entrepreneurs should keep their employees in the loop and update them with the latest company news. They can do this through newsletters or an intranet system.
Managers should also answer the employees’ questions about the company’s business and motivate them to share their ideas for business improvements. Sharing important business information with employees makes them feel more important and respected.
Bribe Your Employees With Nice Gifts
It is the holiday season and entrepreneurs can use it to improve their employees’ motivation. They should be their team’s Santa and give out great gifts. Since most managers spend a large part of their day with their team, they can easily determine the employees’ needs and wishes and give them awesome presents.
If they cannot figure out what their employees would like to get, they can give them Christmas gift cards. These are regular prepaid cards that can be used in most retail stores. This way, employees can buy appropriate gifts for them and their families. Some entrepreneurs also give out lots of promotional merchandise to their employees, who then serve as a great brand advocate for their company.
Give Them Money
There are many different ways in which employers can increase their team’s motivation by increasing the team members’ revenue. Agile and skillful employees should get raises. After a successful business year, entrepreneurs can also give bonuses to their employees. They can single out a percentage of the profits and share it amongst the members of the team, who have worked hard to improve the company’s business operation.
Some startups also provide their employees with company shares. They can sell them or give them out for free and the purpose of this move is to make the employees more involved with the company’s business. If the startup continues to grow, awarded employees will receive the dividends. There are also more complex benefit plans and Employee stock ownership programs that help entrepreneurs keep their employees agile and motivated.
Newly founded startups usually do not hire the top industry talents. Their teams usually consist of ambitious college graduates. If a startup employee feels motivated enough, they will grow together with the company and improve their practical knowledge by solving problems and issues that stand on the company’s path to success.
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