How to Keep C-Suite Level Executives Motivated
Holding a c-suite level position in a company is a senior management position that comes with a lot of responsibility and duties. However, Chief Executive Officers (CEOs), Chief Financial Officers (CFOs), Chief Operating Officers (COOs), and Chief Information Officers (CIOs) all need to stay hungry and motivated at work and not rest on their laurels just like any other member of staff in a company. Executive positions in a company certainly aren’t usually jobs for life. If company executives don’t keep themselves sufficiently motivated and up for working their hardest for the company, they too can be got rid of and sacked just like anybody else can.
We have come up with a guide to how you can keep c-suite level executives well motivated.
Make an Effort to Understand C–Suite Executives and What Motivates Them
There are two types of executive c-suite managers, those who are externally motivated and those who are internally motivated to work hard.
But what do these terms mean?
Internally motivated executives work hard in pursuit of their own personal goals, targets, values and interests. They behave according to what motivates and interests them as a person.
Externally motivated executives work hard to obtain external rewards such as salary bonuses and promotions in the company.
Ways You Can Motivate Internally Motivated C–Suite Executives
Provide them with feedback
Internally motivated executives in high positions see feedback and a vital part of allowing them to grow, develop, and learn more in their role. Feedback when done in a constructive way helps executives know ways in which they can improve their performance at work.
Provide them with a wide range of challenging assignments
Task-completion and taking on a range of different challenges in the workplace gives managers a sense of purpose and direction and will motivate them to increase their productivity levels.
Encourage managers to problem Solve
Allow them to do their own research and devise ways to solve problems as a manager on their own. Problem solving gives executive managers a feeling of work satisfaction as they feel ownership over solving these issues. To help develop managers’ problem-solving skills further, they can go on impactful specialist Executive Coaching programmes for managers and leaders.
Ways You Can Motivate Externally Motivated C Suite Executives
Offer Competitive Compensation Packages
Managers will generally feel much more motivated if they feel they are compensated fairly. Externally motivated executives may be motivated by financial rewards and bonuses. Compensation packages should be part of a company’s well-defined career path,whereby employees know that the higher up they go in a company’s management structure and the more responsibility they take on, the more they will then earn as a result.
Measure Performance with Metrics
Constantly monitoring and measuring managers performance is a great external motivator. Managers should be able to see how they performed this month and use the relevant metrics and performance indicators to compare it to how they performed last month.
Performance-Based Promotion
Promotions and titles in large companies can be very effective external motivators. Promotion should be based on an individual’s contribution to the company and their performance.
It can be a tough task to keep individuals motivated who have already reached a high respected senior position in a large company or organisation. However, there certainly are ways you can keep high-level executives motivated and hungry to producemore results in business.