The idea discussed is a motivation program (IBP) for employees. IBP implies the development of appropriate incentives to motivate employees and appropriate criteria for measuring their performance. As a result of such actions, the program predicts high motivation of employees, subsequently increasing their work efficiency. When the program is properly designed for the specifics of the working environment, an overall increase in productivity is expected. Within the framework of the military industry, competent motivation of employees is especially necessary since the competent implementation of work plans is important for this area.
Creating a work environment with a motivated workload is a model essential in any company’s daily functioning. A huge advantage in the company is employees who are truly interested in their work. Organizations with highly motivated employees almost always achieve high levels of productivity (Bush & Peters, 2020). The idea is to design the IBP to suit both the business organization and the work environment. The obvious benefit of the program is a significant increase in labor productivity and business efficiency. Implementing IBP will meet the company’s goals of increasing productivity, higher employee satisfaction, and enhancing the company’s prestige.
Despite the significant benefits, various risks are associated with incentive programs that can harm the company. The company may suffer financially due to a mismatch between the company’s long-term goals and an incentive-based employee motivation program. In addition, there is a high risk of poor communication if it is not possible to involve company management in the process. If the executive cannot contribute to setting goals and any other changing performance standards, then an incentive-based program may be poorly implemented. Finally, in the absence of audits and monitoring, a reward-based employee motivation program may not reflect current goals, including risk management objectives. However, there are ways to mitigate several company risks when implementing IBP. The program should be simple and up-to-date; it should not be used to increase the corporate budget. Second, programs should be oriented towards long-term rather than short-term goals. Third, the board and executive bodies must ensure that they contribute to the planning and execution process. Companies also need to ensure that the risk-taking culture is adequate and implemented directly at the highest management level.
Motivation is the process by which purposeful activity is initiated, directed, and sustained. It has been researched for years, and business leaders have used numerous surveys to ascertain their employees’ personality types to better predict their behavior and aptitudes. Motivational books are often used to encourage employees to improve their performance. To calculate the potential benefits that an employee-centric IBP can bring, it is necessary to look at previous industry studies to collect data for appropriate approximations.
The study by Shkoler O. and Kimura T. (2020) is one of the most accurate, as more than a hundred participants took part in it. A pencil-and-paper research survey was distributed to 341 potential participants in two universities and one college. At the end of each class session, one of the authors provided the questionnaire in several courses (MBA and management, human resource management, psychology, and more). A total of 341 surveys were distributed, yet only 242 came backfilled, and all of them were valid to use as data in the research. The study showed a significant level of employee interest in the company’s motivation. In addition, the study showed another strength of the IBP implementation – the reduction of potential absenteeism, which was reduced by a factor of three during the performance measurement period.
Identifying needs and responding to them is every organization’s simplest approach to earning the people’s commitment in the organization. In a good employer-employee relationship, an employee’s performance can only manifest in organizational effectiveness (Afework et al., 2021). Implementing motivation in an organization allows people to develop their work in terms of behavior, skills and knowledge, ethics, and performance (Esteve & Schuster, 2019). It is also determined that motivational approaches tend to activate the workforce, leading to the expected performance of their work. There is a clear relationship between job satisfaction and performance. Job satisfaction depends in part on material rewards, such as how much a person is paid and what benefits they receive. However, job satisfaction also depends on the culture of the organization. Motivation is carried out in order to unite the interests of the enterprise and employees. That is, the company needs quality work done, and the staff needs a decent salary.
This study uses descriptive design to mention the benefits of implementing an IBP to motivate employees to increase the company’s efficiency. The study is a generalized collection and analysis of data existing on the problem of employee motivation and cases of the implementation of various motivational programs. This type of study allows collecting generalized information about the problem and extensively proving the effectiveness of implementing the described strategy.
The main goal of the work plan is to increase the motivation of employees to improve their performance. Firstly, leaders of the organization must figure out what goals their team is pursuing, which is important for ordinary employees. Surveys can be used to establish what motivates and demotivates employees. Then, leaders must focus on what works well in the organization. Managers must regularly give positive feedback to employees, put success stories as the first item on the agenda in all meetings, and move from discussing problems to finding solutions and creating initiatives.
The third step, which has proven effective, can be team-building activities. A special conference or event will motivate employees, address specific business issues, and boost morale (Dyer & Dyer, 2019). However, these events can be costly; companies need to be clear about their goals and ensure the event’s format matches their goals. Another way to motivate employees throughout the year is to implement a well-planned reward program (John, 2020). Research is needed, and companies need to ensure the right rewards are being offered. Financial reward is not always the answer; indeed, in most cases, people respond more to recognition than reward.
The effectiveness of implementing the program must be precisely measured. To assess motivation and gain insight, it is essential to listen to employees’ opinions and evaluate the real indicators to improve your business practices. Surveys are also one of the most effective methods. Companies may ask management questions to get feedback on motivating their employees. For example, one of the requests might be: “How could your manager encourage you more?” The surveys should be anonymous, so that employees can be honest without worrying about retribution. One way to gauge how motivated employees are at work is to look at how often they skip work (Ward, B. 2020). Employees’ attendance reports for the past six months should be viewed. The information will show a general problem with attendance, due to a lack of motivation.
Managers interested in assessing the motivation of their employees can learn a lot from their joint actions. Employee performance appraisal is a way to measure employee engagement. In addition, the quality of work and the timeliness of the completion of work tasks should be evaluated. If workers’ productivity declines, it is time for a morale boost such as incentive plans and improved workplace conditions. Lack of growth most often means low employee motivation. When a company stagnates, it is often due to a lack of achievement in its workforce. The company’s lack of growth is due to employees’ lack of individual development.
The basis for the competent implementation of IBP is proper management. The company should establish a compensation department or committee that should work with the risk management department. The idea is to ensure that the two committees communicate regularly to discuss the main risks and objectives of the company. In this way, the company can identify, mitigate, and manage potential risks of introducing and implementing incentive programs. It is also important that the organization adjusts the program from a risk perspective, considering whether the teams involved are operating within the established risk framework for the entire company. Finally, there should be a cap or cap on the number of compensation workers can receive over their wages. Thus, it is possible to reduce the risk of burdening the company’s budget to motivate employees.
Afework A., Teshome L., Johar J. K., & Prasanna K. (2021). The effect of transformational
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Bush, C., & Peters, T. (2020). The demotivated employee: Helping leaders solve the motivation crisis that is plaguing business. Advantage Media Group.
Dyer, J., & Dyer, W. (2019). Beyond team building. Wiley.
Esteve, M., & Schuster, C. (2019). Motivating public employees. Cambridge University Press.
John, B. (2020). The impact of human resource development practices on organizational productivity. GRIN Verlag.
Shkoler, O., & Kimura T. (2020). How does Work Motivation Impact Employees’ Investment at Work and their Job Engagement? A Moderated-Moderation Perspective through an International Lens. Frontiers in Psychology, 11(38), 1-16. Web.
Ward, B. (2020). The Motivated Worker: A Manager’s Guide to Improving Job Satisfaction. McFarland.