human resource

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 521 – Week 8 Lecture Notes (1192) Page 1 of 5

JWI 521 Recruit, Develop, Assess, Reward, Retain

Week Eight Lecture Notes

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 521 – Week 8 Lecture Notes (1192) Page 2 of 5

MOTIVATION AND ENGAGEMENT What it Means What motivates employees to do their best work? What encourages them to stay with your company? Some employees are motivated by a passion for this particular work, while others stay for the compensation and benefits that enable them to support their families. Many professionals are strongly motivated by job content and workplace factors, such as challenging projects, professional development opportunities, or recognition. Strategies to drive engagement are built around factors that make employees feel valued and emotionally connected to their work. These strategies must take into account the wide range of motivational factors that affect employees across your company. Why it Matters

• Employee motivation is affected by a complex mix of financial and non-financial factors • To design effective engagement tools, HR needs a deep understanding of employee

motivation • Employee morale and engagement can be positively impacted without major expense

“Work consumes at least one-third of your life, and half your waking hours. It can and ought to be more than a means to an end.”

Laszlo Bock

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 521 – Week 8 Lecture Notes (1192) Page 3 of 5

MOTIVATING PEOPLE Intrinsic Motivation

Intrinsic motivation is demonstrated when a person works more for the love of their job than for the money they receive. People who have a job that feeds their passion can make a living from an activity they find inherently satisfying. They are not just working to pay the bills. As you might expect, people more commonly find intrinsic motivation in careers that involve high levels of skill and creativity, aspects that increase a person's absorption in their work. For these people, job content rewards, such as new responsibilities or challenges, are highly effective incentives.

Extrinsic Motivation

Employers provide extrinsic motivation when they offer pay and benefits designed to appeal to employees. A worker motivated by extrinsic factors may be doing the job mainly for the money and other benefits. This does not mean that people in high-paying jobs lack intrinsic motivation, but that extrinsic motivation in terms of pay and benefits may be enough to keep them working at a job, even if they do not find it very satisfying on a personal level. For these people, finding ways to increase their engagement at work is beneficial because it will increase their motivation to stay, as well as their ability to be productive.

Rewards at Work

Financial rewards and improved benefits are powerful motivators, but they can be slow to administer, since they are usually linked to the annual performance review cycle. Depending on the company’s finances at any given time, not all employees will receive pay increases and benefits at the level that they would wish. Thus, the impact of pay raises and other perks on employee morale is always a limited gain. Job content rewards are not costly and they can be offered at any time, which makes it all the more unfortunate that they are so often overlooked or underutilized. Such rewards are always available because, as a manager or leader, you create your own supply of job content rewards. What does this mean? Consider this: you can give feedback to one team member during their check-in meeting, and you can give feedback to another team member in your next meeting as well. You can give your staff opportunities to participate in decision-making or to take on new responsibilities today, and you can give them more opportunities tomorrow. You do not need funds from your budget or permission from your boss to offer this type of reward. You are limited only by your imagination and creativity. Ironically, because people are so used to thinking that value comes from scarcity, the ready availability of non-financial incentives, such as performance feedback and job content rewards, may be one reason why managers and leaders do not use them enough. Yet, consistent use of these non-financial rewards can have a significant positive impact on job satisfaction and morale in your workplace. An additional advantage of job content rewards is that using them gives managers the power to improve employee performance, increase retention, and identify and develop future leaders.

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 521 – Week 8 Lecture Notes (1192) Page 4 of 5

EMPLOYEE ENGAGEMENT STRATEGIES

Most successful strategies for driving engagement work by helping employees feel valued and emotionally connected to their work. Whatever your company’s culture or budget, the following ideas can be used by HR, and adapted to increase engagement in your organization.

Give Employees Autonomy

For many people, increased autonomy and responsibility in their jobs lead to higher levels of engagement. Competent workers appreciate the respect that is implied when they are given a project and can decide when and how to complete the required tasks. Most managers also prefer to have self-sufficient staff, yet some managers struggle to give adequate autonomy to their employees. HR can help by offering training in management skills, including how to delegate effectively.

Provide Training and Coaching

Creating a culture that fosters continuous development helps workers build new skills and communicates that the company values its employees and believes in their potential. When training budgets are tight, there are many low-cost options available, such as cross-training employees so that workers learn about other people’s jobs,coaching of newer employees, and well-implemented professional development plans.

Listen to Employees

Effective leaders pay close attention to what workers have to say, and then act on the feedback. HR can facilitate this process by bringing employee views to the attention of leaders and managers. For example, replace the annual employee survey with quarterly or monthly pulse surveys. Modify the performance review process to include interim meetings to check progress and enable feedback. A comprehensive approach to listening helps a company pinpoint and quickly address problems, and it makes people feel valued. Get Social

Engaged workers feel emotionally invested in their jobs. In today’s business environment, where teams are increasingly important, closer connection to colleagues is a key ingredient. Sponsor social events, such as a potluck lunch or trivia event. Employees will often contribute their own time or talent, and enjoy being recognized for their contribution. Service projects also help workers cultivate closer relationships, and such projects show employees that they are working for an organization that contributes to the wider community. Recognize and Celebrate

Recognition is always welcome to the recipient, but, far too often, awards and bonuses are doled out with little fanfare. HR should always celebrate such occasions and clearly broadcast the reasons for employee or team recognition. This practice reinforces engagement by giving people a clearer idea of how they fit into the mission of the company, and it highlights what kinds of behavior are rewarded in your company’s culture.

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 521 – Week 8 Lecture Notes (1192) Page 5 of 5

GETTING THE MOST OUT OF THIS WEEK’S CLASS

As you read the materials and participate in class activities, stay focused on the key learning outcomes for the week:

• Define intrinsic motivation and extrinsic motivation How many employees at your company are intrinsically motivated by the satisfaction they derive from doing their work? How many employees are chiefly motivated by extrinsic factors such as compensation and benefits? Now that you understand the concept of intrinsic versus extrinsic motivation, how can this knowledge help you, as an HR professional, design better incentives and engagement strategies for all sections of your company’s workforce?

• Compare the impact of financial and non-financial incentives Do managers in your company understand the power of non-financial incentives? Are they making good use of job content rewards, such as performance feedback, stretch assignments, and autonomy? Does the performance review process include robust development planning for the upcoming year, with follow-up meetings to check progress? Do managers give their A players challenging opportunities to develop their leadership skills? Or do they focus on using financial rewards to retain top talent? If so, how can HR help adjust the balance?

• Explore how to support and increase employee engagement Take a look at your own organization’s employee engagement practices. Are managers trained to give employees the autonomy they need to perform well? Do employees have regular training and coaching opportunities, as well as occasions for social connection with their colleagues? How does the company make sure that its employees have a voice that is heard by leadership? Are recognition and awards managed in a way that supports employee engagement, and reinforces the mission and values of the company?