It’s no secret that a motivated and engaged workforce is a tremendous asset for any company.

In fact, 86% of organizations have a rewards program in place for their employees, and 70% of those organizations have between 3 and 6 programs.

What many companies don’t agree on though is the type of measures that should be taken to motivate their team. While giving your employees a bonus once in a while is certain to be welcome, the truth is that money isn’t the only motivating factor; despite what many employers may think. For instance, eighty-nine percent of employers assume that the reason that employees leave is for more money elsewhere. However, only 12% of employees earn more from their next job. So while money may be a motivating factor, it certainly isn’t the only one.

Often, taking steps to encourage and motivate your team won’t even cost you much. When you consider that the rewards of a motivated workforce can far outweigh the costs, the benefits become even more clear.

With this in mind, let’s take a look at a few ways that you can motivate and encourage your team.

Show Appreciation

Recognizing a job well done is one of the easiest ways to motivate anyone. If you see something you appreciate, then say something, and take the time to reward your employees with positive and meaningful feedback. While there’s nothing wrong with thanking your team for their hard work, don’t be afraid to take things a step farther and highlight specifically what it is that you appreciate.

Be Transparent

According to one recent survey, 23% of employees revealed that if employers were more open and honest about the performance and overall health of the company, they would be more motivated. Additionally, some 75% of workers admitted to caring about the company they worked for, but very few felt they had any insight. Being honest and transparent with your employees and ensuring that they’re kept informed of important developments and changes can help them to feel more connected to your company. This will also help reduce fraud in the company.

Give Them More Responsibility

If you trust your employees then you should have no problem letting them take the lead. Training your employees to advance and grow is part of your job, and giving them more responsibility can help to inspire them to do their best.

Lead by Example

Nothing motivates employees to ‘step up’ quite like seeing those in positions of power going full steam ahead. If you want your employees to be motivated, then lead by example. Get yourself motivated to work harder, show up on time, and generally have a positive attitude before you require that others do the same. By putting yourself in the same line as your employees you can help increase their motivation as well as well as the work environment. Set a positive tone and watch as it trickles down the line. It’s your job to inspire and motivate, but you can do this simply by leading with a positive example.

Give Your Employees Purpose

Giving your employees a sense of purpose can help to motivate them like few things can. Take the time to show your team what your vision for the company is, and how their roles fit into the bigger picture can help them to understand how they fit in, and see purpose behind what they do.

Offer Incentives

Offering your employees incentives is another way to help to improve your team’s productivity. Consider implementing performance-based incentives, such as gift cards, time off, or bonuses to reward your team for accomplishments and achievements.

Promote a Positive Atmosphere

Finally, make sure you’re working to create a positive, upbeat environment; one that your employees enjoy working in. By creating a positive atmosphere, your team will feel more connected with the company, proud to work there, and will be less likely to abandon ship.

Never overlook the importance of employee motivation. Engaged employees will be less likely to quit, and far more willing to do their best. Make sure you’re continually looking for new ways to motivate your team. With these simple tips, you can’t afford not to!