Know What Will Make Them Remain and Excel with the Employee Motivation Indicator

Access your KPIs online;
Measure your success;

Navigation: All Balanced Scorecard Articles > BSC in Excel

Encouraging your employees may seem like an easy task but there are actually a lot of things to consider and mull over. The solution here is to use the employee motivation indicator. Check additional information about Employee motivation indicator.

You may wonder why you need to motivate your employees but the real question is: why should you not? Try to encourage them and inspire them into contributing to the achievement of the company's goals and you will see the various and numerous advantages. The most obvious here is that you will be more productive. Productivity typically lies on the effort exerted by your employees and if they are not motivated well enough you will lose your investment in no time. However, you should not rush into such phase since there are a number of the things that you will have to consider. One of these is to ask yourself whether they are in need of such encouragement. This is why you will have to use the employee motivation indicator.

This is a type of the key performance indicator that allows you to keep track of the performance of the employees and whether it is time for you to give them motivation. In addition, the employee motivation KPI enables you to see how effective your motivation program is going particularly if you are already running one. In essence, this KPI permits you to evaluate the motivation factors so that you can assess whether your motivation solutions are indeed encouraging your employees and that they are contributing well to your organization.

The employee motivation indicator is divided into four classifications which are the monetary compensation, the growth and development, intrinsic factors and the non monetary compensation. These four have different factors under them and they should be deemed as important by the business owner. When it comes to the first mentioned, which is the monetary compensation, the most important factor here is the benefits that you provide for your employees. These may include the salary, the insurance gains and the employee stock options plan or the ESOP. The latter pertains to the ability of the employee to buy a portion of the shares after his or her tenure.

In growth and development, you will need to measure the training programs undergone by the employees, the number of hours the employee spends within the company and the growth path. This is about the ambition of the worker, which will serve as the driving factor to allow him to push his career further and enhance employee performance. On the other hand, the intrinsic factors include the recognitions received by the employee, the number of projects that have been assigned to them, their ability to handle competition within the organization and the way they manage their subordinates.

The last category in the employee motivation indicator would be the non monetary compensation. What you should know is that cash is not the only important thing for the employee. There are other factors that encourage them such as hygiene, family welfare programs and recreational activities. This classification actually motivates your employee in such a way that they want to stay for a longer time in your company since they are happy and enjoying their job. These matters are easily handled by the employee motivation indicator, which is why you should utilize such KPI.

If you are interested in Employee motivation indicator, check this link to find out more about employee motivation KPI. Also, you can check other articles in BSC in Excel category.

Balanced Scorecard Toolkit includes step-by-step manuals, documents, presentations, check lists designed to help business professionals with successful development and implementation of Balanced Scorecard. Learn more about BSC Toolkit.