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Leadership professionals have known for a long time that the way you motivate and engage workers isn’t by paying them bigger bonuses, but by aligning them with the values of your business. People are willing to work extraordinarily hard and creatively when they have the right motivation. Money can help, but values appear to work even more strongly in your favor. A person who believes in the core mission of your firm is going to turn up every day with an enthusiasm that a bigger salary can’t buy.
The problem for many companies is that they are not communicating with their employees in productive ways. Company strategy and values, as they see it, are something that top management discuss, but that doesn’t apply to people further down the organization. Workers are pawns in a much bigger picture.
The latest insights, however, suggest that this kind of attitude, whether unconscious or not, is harmful to the development of successful firms. Figures show that when companies engage in effective communication, employees are more than twice as likely to perform their jobs above expectations, and much less likely to leave their roles. People, it turns out, like to have a purpose in what they do, just like companies.
External communication strategies are vital too. External audiences must be able to understand your values to know whether to remain a loyal customer or to invest money.
The following infographic shows just how vital an effective communication strategy can be to the overall performance of your firm. Check it out below.
Infographic by University of Southern California
