Motivation is the magic key to attracting extremely talented person to your small business. There are many ways to motivate people and the motivational process will change from employee to employee. One of the interesting aspects of small business is that you can tailor your motivational processes to the individual employee in order that you can get the best you can from them. This is a double edged sword though, because as your small business grows the stress increases on your Human Resources personnel because you do not have a huge department reserved for them.
Motivating your employees usually starts with setting a goal, or vision, of what you want from them and what you will give them, and this can be done both tactically and strategically. Sharing your small business vision with the employees makes them also feel responsible for the success and failure of your business. This kind of sharing of vision motivates employees by giving them a personal stake in your business and as I have not yet found a person who says they want to be a failure, your odds are pretty good that they will try to make your business a success . This is one of the best ways to motivate employees as it requires very little capital, but it is also one of the trickiest to pull off.
Probably the easiest way to motivate employees would be to offer them financial compensation for a job well done. Everyone loves to have money and a lot of people feel very appreciated once they get their raise, bonus, or promotion. Financial compensation can make employees very happy in the short term, but people tend to rate financial compensation as a lesser reward these days. I believe that financial compensation will always have its place, but in small business you will have a much more difficult time enticing talented employees to stick around. After all a large corporate company will have much more capital flowing through its coffers, so if financial compensation is all you have to offer you will probably lose a fair amount of employees.
Job satisfaction is the best way you can keep your employees, but it is the most difficult balancing act to perform. Job satisfaction could be performed by encouraging your employees to think of themselves as professionals in the trade your business is in, that stroking their ego a little bit and increasing their expertise in the area you want them to improve on. People, in general, like being thought of as professionals in their field and encouraging them to act that way can only benefit your business. It can also be adjusted by making sure that the boss is nice to his employees to raise morale.
Source by Michael J Wiseman