A comprehensive guide to employee motivation and retention strategies in the workplace, covering both financial and non-financial motivation methods that managers can implement to boost productivity and maintain a satisfied workforce.
• Effective motivation leads to increased productivity, lower absenteeism, and reduced staff turnover
• Financial motivation includes various compensation methods like performance-related pay, bonuses, and profit sharing
• Flexible working benefits for staff motivation encompass options like remote work, flexitime, and job sharing
• Non-financial motivation strategies focus on workplace environment, career development, and employee recognition
• Maslow's Hierarchy of Needs provides a theoretical framework for understanding employee motivation