CCMP Capital, a New York-based private equity investment firm, is a popular name in the industry. Most of the accolades Stephen Murray CCMP Capital has won are because of the prime leadership of their former President and CEO Stephen Murray. It was under Stephen Murray that CCMP Capital established itself as one of the best places to work. This is not just measured in the employee retention rate but satisfaction rates as well. From the get go, Stephen Murray introduced amazing strategies to keep the employees happy. His motto was simple -let the employees know how much they are valued.
In the following points are some motivation tips that leaders and managers can use with their employees –
It Is Important To Know What Employees Want From Their Job – When employees are concerned, a lot of assumptions are made but job satisfaction and motivation cannot be achieved with assumptions and predictions. These are action oriented tasks that require managers and leaders to actually interact with their employees. Every employee has some different hope from the job. Some want better pay, others want to achieve a better position and status, some others want to be well trained in the next 5 years, and so on. Knowing about this information would then enable a manager/leader to use it for motivation.
Make Generalizations After Research – In a company with a large number of employees, things are different. For instance, in Stephen Murray CCMP Capital, it is easy to know every employee individually but in a large firm, this could be impossible. At such a time, some assumptions are bound to be made. But these assumptions should not be without any basis in logic. For instance, if some employee is in their 20s, it doesn’t necessarily mean that money and position are their top objectives. If the employee has always been a straight A student in college and university, it could also mean that proper training is one of their motivation.
Use Money Wisely – Money is a big motivator and there are no doubts about that. However, its effectiveness as a motivational tool depends on how money is used. For instance, in an organization like CCMP Capital where everyone is fairly paid and people are working hard, money adds to the fun. People are grateful for the generosity of their employees. On the other hand, in a company where employees are fairly paid but they simply do not work their share, using money for motivation would be like throwing it down the drain. Professionals at CCMP Capital suggest that stock options can also be explored along with monetary benefits.
Ultimately, all employees want to advance in their career and lead a comfortable life. For this, they need a leader like Stephen Murray, someone who is always interested in employees’ aspirations.