Employees are considered as the most important asset in any organization. Since the organizations identified the importance of human capital, the importance of employee motivation has become a key discussion point in organizational management culture. Employees are the key function that can drive any organization towards success.
Based on the contribution of the employees to organizational activities, any organization can either reach its strategic objectives or collapse and move out of the industry. Due to this important ability, human capital is considered as a resource in any organization. Employees can be considered as the only asset with the capability of thinking and acting according to the situations which raises the importance of employee motivation.
As the business environment is changing rapidly, the organizations also should have to change to survive in the changing business environment. They have to change the technologies, policies and procedures and working patterns frequently. Since changing the non-living assets and systems are costly and time-consuming, human capital is identified as a great alternative. Human capital is used for business functions which can go through rapid changes frequently. Organizations identified this method as a more cost-effective and flexible method than changing the technologies and equipment.
Human capital or employees can be considered as one way of protecting the organizational highly secured information. Rather than relying on computerized systems that can be hacked and within seconds, highly confidential data of any organization is kept with the most trusted employees of the organization. This is done with the belief that the committed and motivated employees will preserve the organizational details under any circumstance than the computerized systems.
Motivated employees are open to flexibility. They are always open to new suggestions, changes and to act according to the situation. This helps any organization to provide a variety of solutions for the customer to overcome the issues he is facing.
Mentioned above is the importance of human capital to the organization. The importance of human capital has created one of the most important concepts called ‘Employee Motivation’. Since the organizations are more concerned about retaining the existing employees with the company and using the maximum capabilities of the employees for the organizational benefit. The organization needs to keep the employees with the organization for a longer period. It helps to increase the productivity of the organization as well as the employee. Apart from that, retaining employees can help the organization to reduce the cost of recruiting and training new employees.
Organizations have identified the cost of motivating the existing employees are lower than recruiting and training cost.The importance of employee motivation has boomed up with the increase of the businesses in the service providing industry. The concept of service providing has increased the need for retaining and motivating employees to provide wit their maximum potential to achieve organizational activities.
Motivated employees can be considered multiple times effective than non-motivated employees. They consider work as a part of their lives rather than thinking about it as a burden. They work loyal to the organization and commit to providing their maximum potential and capabilities at any given time.
Employees can be trained and groomed to become the people the organization wants them to be and change whenever they want with a minimum cost and a time. Knowledge of employees is not limited to one field, unlike the machinery or the computerized systems, they can always go an extra mile for the benefit of the customer or the organization.These reasons have increased the importance of employee motivation and retention of employees. This can be considered as a long term investment for the organization as motivated and satisfied employees are an important asset in achieving organizational goals and objectives.
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