With the minimum wage creeping up many SMEs are starting to worry about the impact it will have on their businesses. The minimum wage currently $17.70 is indicated to rise to $18.90 in 2020 and $20.00 per hour in 2021 (subject to annual review).
If you are paying your new untrained or unskilled workers a higher minimum wage then more senior staff and supervisors need to be on an increased wage or you could offer incentives in other ways to keep your staff motivated and wanting to remain with your business.
When employees were recently surveyed in New Zealand about what motivates them the following statistics came out:
The interesting thing here is 80% of staff are not necessarily looking for more money. When it comes to motivating your team do you know what makes them tick individually and what their long term goals are?
What works for one staff member may not work for another. Think about what self development you can offer them to align with their goals - it might not even be work related. This can turn on motivational factors in your team keeping your business running more effectively without more costs. It could for example be business mentoring for their long term future which could be as easy as a monthly sit down chat over coffee.
Spend time up-skilling and training your staff but protect your investment by creating policy which states if you leave within a certain time of completing the training they will be liable for 80% reimbursement of the cost to the company. Pro rata the cost over the time until it is paid off. As long as the policy is well written and agreed upon and signed it can be enforced.
Other options to keep your staff motivated are:
On the flip side the biggest de-motivator of staff was the management (or lack of) of bad performance.
If you are paying your new untrained or unskilled workers a higher minimum wage then more senior staff and supervisors need to be on an increased wage or you could offer incentives in other ways to keep your staff motivated and wanting to remain with your business.
When employees were recently surveyed in New Zealand about what motivates them the following statistics came out:
- 38% Would like more flexible working arrangements
- 2% Would like more social events
- 2% Would like promotions
- 20% Would like an increase in wages or bonus'
- 1% Would like improved health and safety in the workplace
- 16% Would like development or training
The interesting thing here is 80% of staff are not necessarily looking for more money. When it comes to motivating your team do you know what makes them tick individually and what their long term goals are?
What works for one staff member may not work for another. Think about what self development you can offer them to align with their goals - it might not even be work related. This can turn on motivational factors in your team keeping your business running more effectively without more costs. It could for example be business mentoring for their long term future which could be as easy as a monthly sit down chat over coffee.
Spend time up-skilling and training your staff but protect your investment by creating policy which states if you leave within a certain time of completing the training they will be liable for 80% reimbursement of the cost to the company. Pro rata the cost over the time until it is paid off. As long as the policy is well written and agreed upon and signed it can be enforced.
Other options to keep your staff motivated are:
- Ensure their work is challenging
- Invest in professional development
- Promote internally
- Progress and performance reviews
- Rewarding a job well done
On the flip side the biggest de-motivator of staff was the management (or lack of) of bad performance.
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