Daily Life Tips

Strategies to enhance employee motivation An organization need to ensure employees are motivated enough. Motivation is linked with an organization attaining high performance hence competitive advantage. Motivated employees are more committed and are likely to be retained within an organization for a longer period. The followings are strategies that may enhance employee motivation; 1.       Information sharing Information empowers and motivates employees (information is power). Informed employees feel more important and valued by an organization. Employees should be given first priority in information sharing. It is important to share all quarterly, semi-annually and annually reports to employees. 2.       Compensation and rewards Employees who are compensated and rewarded for their outstanding performance are highly motivated. Performance appraisal with rewards motivates more employees. 3.     ...

Misconceptions about employee motivation In order for an employee to be motivated, depends on various factors such as level and status of the respective employee. There is no one principle to motivate all employees. There are some factors that are considered as motivating tolls for employees however in reality these may not be motivational. The followings are some misconceptions about employee motivation; 1.       Financial reward Money alone cannot generally act as a motivational tool for employees. Formal and informal recognition tends to add motivation for some employees rather than money. Money may tend only to motivate some employees in short term where an employee may be in high need for money. At some stage, i.e. senior level an employee may have enough money and therefore money may no longer motivate him/her. 2.       Natural motivation There is no such a natural motivation. No one can be motivated naturall...

4 Behaviors that exhausts funds 1.       Imprompt purchasing This concept means purchasing without having proper arrangement and plan. Not having prior plan on what to purchase and when to purchase and at what resource to be used for purchases. Avoid purchasing everything you see near you.   If you purchase incidentally, it is likely to purchase at high price (no research made on prices) and also there is a risk of purchasing a low price product. To avoid this behavior, make sure you do not take huge sums of money. 2.       Spending more than you earn It is important to spend basing on the level/limit of your income you earn. Living a costful life with costly spending has been a source of huge borrowings that exhausts funds on loan repayment. 3.       Spending virtual money This concept means spending basing on income not yet received. Only a certain funds have been promised but ye...

CON D U C T RISK AS S E SS M ENT The a c hiev e ment of obj e c t i v e s and g o a ls i s d e p e n d e nt on how the organization m a n a g e ment a ssess e s a nd mon i tors risks a g a inst those obje c t i v e s a nd g o a l s . The organization f a c e s risks fr om both in t e rn a l a nd e x te r n a l fac tors. T h e f ol l owing a re a mo n g the c o n side ra t i on in ass e ss i ng a n d mon i toring r isk s : Choose Ap p r o p r iate R i sk Ass e ssm e n t M e thod Risk a ssessment c a n be done usi n g two main m e thods i.e. the u s e o f a su r v e y qu e st i onn a i r e or a wo r kshop. The s u rv e y , a te a m is fo r m e d to c ol lec t inpu t s f r om dif f e r e nt d e p a rtme n ts / uni t s of the organization . Ho w e v e r, the major l i m i tation with the surv e y a ppr o ac h is i t s inhe re nt s l ow p a c e a nd d e p e nd e n c y on p e ople to c omp l e te the...