How to motivate your employees

Seminar paper from the year 2022 in the subject Leadership and Human Resources - Management Styles, grade: 1,0, Heilbronn University, language: English, abstract: The main objective of the term paper is to examine different scientific approaches of motivation and to discuss whether they are still suitable to today's fast changing working environment and appropriate for the age of 'New Work'. In today's business era of globalization and digitalization, highly skilled and motivated employees are more and more found to become a competitive advantage. Whereas mediocre employees might be sufficient to manage an average business, employees with a negative attitude towards their working life can destroy a flourishing company over time. Increasing turnover rates within a company's workforce, higher reject rates in terms of production and lower productivity are just some consequences resulting from decreasing motivation. On top of that, a higher motivation level is considered as having major influence when it comes to less staff absenteeism. In fact, there seems to be a direct link between employee's overall engagement and their employer's profitability, as companies with higher employee engagement are up to 21 % more profitable. Therefore, motivated and committed staff can be described as success factor and one of our economies' most valuable assets, not only in the service sector. Although we know of these factors to be decisive for a fulfilling career and a business' success, less than 20 % of workers world-wide are dedicated to their work, unfortunately. Altogether, motivation of employees can have tremendous economic side effects, which should not be underestimated.