Surviving in Today`s Business Environment

Categories: StrategyThinking

Today’s business environment is so competitive because of increased innovation and creativity as compared to the environment a few years back. For companies, the best way to measure up to the competition is to enhance the employees’ productivity. There is no better way to increase the productivity of the staff other than to seek ways to motivate them. Today’s motivation methods include a mix of programs that are meant to increase the level of satisfaction for the workers.

Firms are using attractive salaries, remuneration and benefits packages to motivate their workers.

Moreover, they have also come up with ways to create a suitable working environment (Nickels et al, 2018).

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For instance, companies today are helping their workers to develop a healthy family-work balance through flexible work schedules, paid vacations and family leave days. Firms are also using recognition to motivate the members of their staff. The most outstanding employees in every department are identified and rewarded with handsome bonuses. In most cases, the standard measure for determining whether an employee is right for a job promotion or gifts as a form of reward is performance.

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Goal setting has become a shared future in business today. The participatory and transformative business approaches supplement this approach. Goal setting helps provide clear direction for the team members. Each team is required to set goals. All members are motivated to contribute to the goal setting so that they own the goals. Working together as a group at the goal-setting stage helps create an environment for cooperation and effective coordination of duties (Nickels et al, 2018).

To further promote teamwork, firms set up team-building sessions, workshops, and seminars for the staff. These sessions are used to create a culture of collaboration while at the same time focusing on developing the individual strengths of the employees. Teamwork does not mean uniformity of the team, but it means bringing together people with diverse experiences, thinking patterns, strengths, and talents.

The employment laws create employee motivation by regulating the relationship between the employers and the employees. The employer is required to operate within the confines of the law. For example, the minimum wage law sets the payment standards by indicating the least amount that the employee can be paid per hour. The other critical labor law is the Equal Employment Opportunity Act (EEOA) which requires that a business organization must avoid any discrimination during the hiring process (Connolly & Connolly, 2018). According to this act, employment or promotion should purely be based on merit. In the US, EEOA is attributed for the diverse workforce in most companies. It has made companies hire people from different races, religions, ethnic groups, and ages. Therefore, it has created diversity in the US workforce. A diverse workforce is highly motivated because it brings together people with different perspectives and divergent approaches to problems. On the other hand, the minimum wage law ensures that the value of the remuneration is commensurate with the effort of the worker essentially leading to high morale.

Business organizations are using corporate culture to create a suitable working environment thus boosting the morale of the employees. For example, a corporate culture that promotes diversity aims at making every employee feels comfortable at work despite having a different culture from the others. Secondly, a corporate culture that supports the industry helps guide the employees on their personal and professional growth. Corporate cultures are usually designed to support the company vision and mission statements. Thus, when the staff members are appropriately guided using the culture, they are motivated to work towards the realization of the company vision.

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Surviving in Today`s Business Environment. (2021, Oct 05). Retrieved from https://studymoose.com/surviving-in-todays-business-environment-essay

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