Motivating Employees Is Your Key to Success
Presented by FreeEnterprise.com, Corey L. Massella discusses different strategies for motivating your employees.
To motivate employees, or not to motivate them? That is the question, which perhaps is not so silly in an economy still saddled with high unemployment. In normal times, this is a no-brainer. Of course it’s important to provide incentives to employees. Done correctly, it helps retain top performers and encourages average workers to reach new heights, making a business more profitable and efficient.
Unfortunately, since 2008, we’re all operating in a “new normal,” which has given some business owners a reason to believe that “just having a job” should be incentive enough for their staff. Especially now, as the economy has shown some signs of life, this would be a big mistake—even if you own that rare company where every employee is self motivated, works their hardest without encouragement, and is totally loyal.
Odds are that over the last several years, raises have been kept to a minimum, and staff have been asked to work harder than usual to make up for personnel cuts. It wouldn’t be a surprise if you found top employees starting to reduce productivity and be less driven.
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Corey L. Massella, CPA, is a partner with the accounting and business consulting firm Citrin Cooperman, and is the CEO of the firm’s SEC Solutions Group. He brings more than 20 years experience in counseling entrepreneurs in financial and business strategies, including structuring, negotiating and executing mergers and acquisitions, completing due diligence and preparing companies for public offerings. He is also a board member and sponsor for the Financial Executives Institute (FEI), Keiretsu Forum and the Long Island Capital Alliance.