One of the reasons business owners may start a business is to make money.
Because of this, I have found that business owners tend to think that money is the major motivator for employees too.
This may be true for some employees, yet it’s certainly not true for all employees.
I have found that most employees first and foremost want a place that appreciates them.
A place where they feel acknowledged and that they are making a contribution.
Money is about fourth on their list of priorities.
Yet if you fail on the first 3, that is, the employee doesn’t feel appreciated, doesn’t feel acknowledged and doesn’t feel like they are contributing… the money thing will rise ‘seemingly’ to the top.
And they’ll tell you that they NEED a pay rise to stay.
For a large part the reality is that what they are really saying is “to put up with all the garbage here at work – I need to get paid more”.
I have a lot of business owners that come to me and specifically ask me for ‘incentives’ that will help their staff become productive. Yet these business owners have a business that financially isn’t in a position to pay these ‘incentives’.
They think that ‘cash incentives’ will fire up their team, and get them productive. And in turn it will save the business.
Most of the time – this idea is off the mark.
If you need incentives to fire your staff up, you need to go back and fix the crux of the problem.
The reality is this…
I have seen many, many businesses where people come in and work their buts off for little or no money. – and love it.
In fact when a well known Motivational Speaker comes to town hundreds of people volunteer to work for free - like mad men for weeks and even months – and do you know what they love it.
You also see this with the volunteers that work at the Olympics.
They do it because they feel like they are a part of something ‘special’. And to employees that means a lot.
For us as business owners we have to be able to ‘think’ like employees.
Not everyone thinks like us. Not everyone thinks like a business owner.
Not everyone wants to start their business. Not everyone wants to earn a million dollars.
You know what, there are people out there that are quite happy to earn a wage and yet still give a million percent.
Not everyone is money driven.
And not everyone will put up with working a million hours to grow your business (like you do).
I’m a big on being fair with people. But like any relationship – there’s two sides. And both sides must contribute and perform for the relationship to work.
Firstly – you’ve got to employ ‘hard workers’ not people that are inclined to ‘bludge’.
People are either hard workers, or they are not.
It’s a skill that I teach my clients to pick in people when they hire. It’s simple to do.
I’m a BIG believer in getting hard working passionate people into your business – and then rewarding them.
Appreciate them, acknowledge them and make sure they are doing things in your business that allow them to feel like they are contributing in a positive way.
I disagree with getting people into your business that tend to ‘bludge’ and paying them to work harder.
And even worse, I don’t agree with offering incentives to already unproductive people.
It’s the wrong way around and you’ll find that they’ll start running your business… you’ll be looking for ways to make them work which will take time from you growing the business – or enjoying your lifestyle.
Now let’s talk about money driven employees…
If you have a staff member whose major motivation is money – they’ll probably be gone as soon as someone comes along with a better offer.
The answer is this…
Create a business and build an environment that people love to work in. A business that attracts hard working – passionate employees.
It’s what I will teach you if you choose to join me on my 1-on-1 business coaching program.
All great business owners create a business that their employees can buy into with their heart…
When your employees are involved in your business from their heart, they take pride in what they do, who they are and pride in the business. They want to work, they want to produce and they want the owner and the business to achieve.
And you can do the same.
Because if your employees love what you stand for, If they love where you are going… and love the way they are treated… you won’t have to ‘look-over their shoulder’ you won’t have to keep your eye on them…
Because they’ll be doing what they love.
And if they love what they are doing – they’ll do it to the best of their ability.
You’ll have to send them home, you’ll have to tell them to take holidays.
They’ll drum up business for you when they’re walking down the street or out on the week end… because they are passionate about your business.
And when it comes down to paying them, you can choose what you want to pay them – because you’ll be delighted with how they work, and their productivity.
So how to you pay these people?
There’s a number of smart ways that I take my clients through… which I can take you through on my 1-on-1 business coaching program…
In essence you reward them for their work, not pay them to work.
Let me explain.
After years of working with extraordinary business owners I have found this…
They normally start off their business with little or no money… They employ people on industry standard pays… then as the people produce and deliver – their pay packets increase.
By the time the business owner becomes very, very successful almost everyone in the business is on a great pay packet. Because everyone is productive.
If they aren’t productive, they aren’t employed.
So take these millionaire lessons on board with you.
Don’t bribe your people with money.
Create a business where passionate hard working employees want to work.
And they will work hard; they’ll be productive – because it’s their nature.
They’ll stay and continue to work for a business that they love to work for.
As a result your business will grow… and as your business grows you have the resources to reward them.
That’s the secret to having high staff productivity.
Copyright © 2006 by Casey Gollan. All Rights Reserved
Business Coaching expert Casey Gollan helps grow businesses by $1 million to $10 million in 1 to 3 years. Since 1996 his coaching programs have added over $375 million to small businesses. Go to his Melbourne Business Coaching website and watch a free business growth video series.