Magazine article Management Review

Innovation for Motivation

Magazine article Management Review

Innovation for Motivation

Article excerpt

Raises and bonuses are effective. So are comp time and better working conditions. But one of the best--and cheapest--ways to motivate employees is for managers to show them how their job helps the company make money.

That's what 59 percent of the employees in an Ernst & Young LLP survey attested to and 77 percent of the managers in the same survey agreed with. "Employees who really understand generate much greater value. They're capable of putting in the extra mile," says U.S. Secretary of Labor Robert B. Reich, who cosponsored the survey with Ernst & Young. "Withholding information is a vechile for maintaining power."

"Workers must be treated as business partners," says John Case, author of Open-Book Management (Harper-Business, 1995). "Partners get real information, not just what management has decided they need to know." Case believes that real knowledge is in financials, sales reports, inventory accuracy figures--all the information CEOs use to make decisions.

"We don't send information, we try to have people generate it. Information sharing is different than giving people information--everyone is responsible for their education," says Dennis Bakke, president and CEO of the AES Corp., a power provider based in Arlington, Va.

Companies that really excel at providing information to their employees are few and far between, but most of the respondents are starting to get the picture. The vast majority of workers (93 percent) say management keeps them informed about the company's financials, and 70 percent of employees know the trend performance of the company's stock during the past three months. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.