Stimulation of labor recourses

Stimulation of labor recourses

Each manager tries to attract a high-qualified, skilled and thoughtful specialist in his team. However, very often such an employee becomes only a tool for getting a profit and his personal treats fade into insignificance. Such a profit based on incorrect using of personnel won’t live long: sooner or later an employee will retire and a company again will be looking for a person to a vacant position, spending time and material recourses and losing a profit.

Labor motivation today is one of the most important functions of management, representing stimulation of an employee or a group of employees to activities aimed to achieving objectives of a company by satisfying his own or their own demands.

Labor stimulation consists of 2 parts:

  • Material
  • Non-material

Basic forms of labor stimulation are:

  • A salary, bonuses and extra charges, characterizing the assessment of contribution of a certain employee to results of a company work. A salary should be competitive because it is a key factor while choosing of a place of employment. Some companies use time trackers to calculate amounts of salaries according to time worked by an employee. It is quite a good practice because an employee can see a time tracker report and know what activities he is paid for.
  • System of internal privileges. Partial payment for food or transportation to a work place, reduced prices for production of a company, insurance, etc. are very efficient forms of labor stimulation because it shows that a company takes care of personnel, giving a chance to save time or funds.
  • Career progress, trainings using funds of a company. This type of stimulation is attractive for young specialists, because they are more active and mobile. At the same time, it is important for the system of career progression to be clear and accurate. A person should know how to act in order to have a progress. He should also know what indexes of effectiveness (indexes of a time tracker, or indexes of other tools of monitoring) can provide his upgrade.
  • Non-material privileges. Giving of a right for flexible work time according to workload of a company, early retirement, extra days of vacation, arrangement of summer vacation, etc. Settings of a time tracker allow a manager see what employees can get extra days-off or can go on vacation.
  • Creating of favorable working environment among employees of a company, elimination of administrative and status barriers. It is important to create an atmosphere of good will and friendship in a company. A time tracker can play a significant role in it. If employees see that they are units of one mechanism and the effectiveness of a company depends on each person, they will be a real team. Time tracker reports can show it.

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