Hiring top talent is one of the most important things a business can do. On their path to success, though, talent alone is not enough. Entrepreneurs need to be able to enable and encourage their employees to be their very best selves.
Entrepreneurs need to create a work environment where all employees can become highly productive and motivated to succeed. Luckily, there’s a lot that entrepreneurs can do to motivate their employees.
#1. Invest in Development
Entrepreneurs can help employees grow by investing in their development. The more knowledge and tools employees can obtain, the more equipped they’ll be to succeed.
You should invest in your employees’ professional development for various skills directly and indirectly related to their jobs. This includes job-specific training as well as general skills development in communication, teamwork, and money management.
#2. Give Employees Purpose
Employees today want to know that the job they’re doing is valuable to the company. As such, entrepreneurs can give employees work that they feel is meaningful and contributes to the company’s growth and success.
#3. Be Inclusive
Another way to make employees feel valued is to create an inclusive work environment. When employees are able to contribute, and they feel their feedback is valued, they’re more likely to feel like their best selves. You can do this by creating open feedback channels and allowing everyone to give input.
#4. Focus on Wellness
Benefits are a huge part of what separates one company from the next. Today’s line of benefits should focus on wellness — both physical and mental. This can include wellness programs such as gym memberships and nutrition assistance but should also include mindfulness practices that focus on yoga, meditation, and self-improvement.
#5. Embed Values into the Business
Employees are more motivated to produce when they work for a company that shares the same values. Today, it’s vitally important for entrepreneurs to create value-driven businesses that stand for something. Embed those values into the day-to-day operations of everything you do at your company, and your employees will feel empowered to contribute to that bigger cause.
#6. Let Them Set Their Own Goals
Companies often set goals for their employees. These are communicated during review periods and are usually done on an annual or semi-annual basis. The problem, though, is these goals are set by managers. Instead, try flipping that concept on its head and allowing employees to set their own goals — within reason, of course. This will make them feel included in the process and more motivated to achieve the goals.
#7. Don’t Punish for Mistakes
Scott Crockett says business owners can encourage entrepreneurship within the company by celebrating rather than punishing mistakes. As any entrepreneur knows, not everything will work all the time. And that’s OK. By using mistakes as valuable learning situations rather than scolding and punishing, you’ll encourage employees to think outside the box and contribute in creative and innovative ways.
About Scott Crockett
Scott Crockett is the founder and CEO of Everest Business Funding. He is a seasoned professional with 20 years of experience in the finance industry. Mr. Crockett’s track record includes raising more than $250 million in capital and creating thousands of jobs. Scott has founded, built, and managed several finance companies in the consumer and commercial finance sectors.