Pharmaceutical Executive Europe - March 2008 - (Page 26)

26 The Mix March 2008 Pharmaceutical Executive Europe The Mix Strategies, tactics, insights and opportunities Motivation Across Borders With a hugely competitive job market and high staff turnover across the board, motivating and retaining staff is now more important than ever. John Sullivan investigates the importance of motivation strategies and the challenges in implementing multinational solutions. O n average, staff turnover costs UK businesses £38 billion a year, with around 18% of staff choosing to change their job annually. The cost of recruitment and loss of productivity is typically between £8–12000 per employee in the UK. Consequently, the importance of keeping staff turnover to a minimum and retaining the best people is manifest at the bottom line. With such high costs resulting from a constant churn of staff it has become increasingly important for companies to install strategies that will help to keep employees engaged and motivated. In real terms, 'employee engagement' is all about employees proactively driving the business forward, generating success, feeling personally rewarded by doing this and benefiting from the opportunities that are created by their efforts. This not only plays a key role in staff retention but also helps to maximise productivity on an ongoing basis. In contrast, high staff turnover and absenteeism can only be seen as a measure of poor motivation. According to Natalie Gunson, director of AYMTM, a motivation and incentive travel agency, companies are looking for proven motivation solutions that deliver ROI and those which exceed their objectives: “By understanding the audience we are able to gauge what communication, reward and overall structure will work for them.” So, what factors need to be considered when implementing a motivation strategy that is both cost effective and efficacious, and how can this work for pharmaceutical companies with multinational operations? “Motivation is an international language,” argues Graham Povey, managing director, Capital Incentives & Motivation. “In spite of what the current debates about working-time directives and differences in working cultures across Europe may indicate, we are finding that employees across Europe are, in fact, very similar in many respects — the common ground being motivation. It has become increasingly important for companies … to keep employees engaged and motivated. John Sullivan “We have been working closely with our European colleagues to develop pan-European motivation and reward campaigns where the structure of the programme is universal and the only difference is in local versions of similar rewards — and, of course, languages.” It seems then, that the challenges involved in running motivation schemes on a global level can be summed up as the need for local knowledge in order to offer appropriate incentives and the need to be able to communicate directly to an audience in their own language. However, where similar goals and aspirations can be recognised across borders, this also needs to be balanced with a consistent message that upholds company values on a multinational level. Michael C Fina Worldwide, a global recognition company, often manages reward and recognition schemes across North America and throughout Europe. We asked Sheila Sheldon, director of European operations, what common policy works on a multi-national level? “Reward on a regular basis,” Sheila commented, “and ensure that as many members of staff are publicly recognised throughout the year as possible. Ensuring that the employee’s continued hard work, loyalty and support is acknowledged publicly is imperative in creating a highly motivated and successful workforce. The presentation of a reward will become an invaluable method of gaining tangible results in improving staff loyalty, motivation and, most importantly, retention.” A key to understanding staff retention lies in getting to grips with the fact that it is simply no longer good enough to expect employees to be grateful for having a job. It is just as crucial to define the employment proposition in terms that the employee will find appealing and then to market it to them in the same spirit that the business is marketed to its customers. John Sylvester, executive director at P&MM, a company that specialises in the development, implementation and management of motivation, employee benefit and incentive solutions, explains: “It is no secret that those businesses that have strong strategic direction and leadership in their core market place tend to be more successful as employers too. The real magic comes from engaging employees in that vision and making them a central part of the success of the organisation.” So what is involved in identifying the types of motivation techniques that will gear employees towards achieving success for their business? John Sylvester answers: “In broad terms, this involves breaking down the strategic objectives so that individuals can understand the part they will play in the future of the business. It involves a clear definition of what ‘good’ actually looks like. It involves clear measurement and monitoring of performance and it involves reward and recognition for those who achieve and exceed their goals.” John Sullivan is a freelance writer specialising in the incentive and motivation sector.

Table of Contents for the Digital Edition of Pharmaceutical Executive Europe - March 2008

Pharmaceutical Executive Europe - March 2008
Contents
From the Editor
News and Analysis
Brussels Report
Calendar
The Next Wave of Pharma Talent
The New World Order
Share of Voice to Share of Care
Notes on a Meeting
The Malta Story
Motivation Across Borders
The Mix
No GUTs, No Global
Green is Good
Last Word

Pharmaceutical Executive Europe - March 2008