As we head into the final days of the year, we’re seeing organizations across the board pushing for tight deadlines to meet goals in an already shortened month. As a result, employees are feeling the harsh aftereffects, silently coping with intense amounts of stress, overwork, and burnout.
But end-of-year demands are just the tip of the iceberg—after all, 2023 was a year filled with stressors. From global conflicts to economic disruptions, it’s common for employees to feel heightened anxiety and depression, especially around the holidays.
So what can organizations do to prevent burnout before the new year and help employees thrive in 2024?
A motivated workforce is like a well-oiled machine—it’s the driving force behind any successful organization, keeping operations running smoothly.
But what happens when leaders ignore this crucial aspect of the employee experience? In today’s competitive labor market, it could mean the difference between sinking or surviving.
When employees aren’t motivated at work, productivity isn’t the only thing to suffer—company culture, engagement, morale, and even retention take a huge hit as a result. Without enough incentive for engagement, or if overall job satisfaction plateaus or plummets, organizations often see turnover start to tick up as more workers search for new, motivating opportunities.
And with the cost of replacing one employee currently being three to four times a position’s actual salary, it’s safe to say that organizations are caught between a rock and a hard place.
On the other hand, when employee morale and motivation are high, workers will not only be more likely to stay, but they’ll often go above and beyond to help their teams and exceed expectations.
We’ve talked a lot about the benefits of motivating employees, but there will often be times when some employees stay motivated while others may become disengaged. Moreover, not every unmotivated employee will respond to incentives the same way—if at all.
It’s easy for organizations to feel a bit discouraged at this point, but luckily, there’s a simpler way to understand how to motivate employees, and it starts by thinking of it in two broad categories.
While these two types of motivations come from different places, it’s important to note that they’re not mutually exclusive. For instance, an employee might be motivated by both an intrinsic drive to do their work because they believe it does good for the world, as well as the extrinsic reward of a generous compensation package.
Similarly, a motivational factor can be both intrinsic and extrinsic at the same time, such as a promotion. Not only does the employee receive a sense of personal satisfaction and professional growth, but they’ll likely see a tangible reward in the form of an increased salary.
The key here is to take the time to understand how each employee in your organization responds to these different kinds of motivators and use a variety of options to spur greater engagement, satisfaction, and productivity.
It’s clear that employee motivation will play a crucial role in the new year, especially as workers recover from the stress of 2023 and the holiday season. Fortunately, WellRight is here to help with a comprehensive wellness program tailored to your workforce.
Ready to help your employees discover their true potential? Talk to an expert today.