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On consulting assignments, here are some of the questions I frequently ask the employees I interview: 1. How does your boss measure you? 2. When the end of the year rolls around, how do you know if you have done a good job over the previous 12 months? 3. If you wanted to receive a raise double the amount that you typically receive, what do you believe you would have to do to qualify? Only on rare occasions are employees (except for salespeople) able to answer these questions since many owners and managers are still prone to give their people discretionary raises and in many cases discretionary year-end bonuses. Experience has taught me that adults perform best when they know specifically what performance they must achieve to qualify for a specific dollar amount of year-end bonus incentive payment. In high school and college, students earn grades depending on how well they score on quizzes during the grading period. They know that if they get all of the answers right all year, odds are excellent that they will earn an “A” grade. In baseball, most players are paid a salary, but most are also paid a specific incentive payment based on how they perform against measurable objectives, i.e., stolen bases, homeruns, batting average, RBI, runs scored, etc. Of course, assigning someone a measurable goal is no guarantee that they will achieve the goal, but at least they know what they have to do to earn “x” reward. In business just like in life, performance rewards improve the odds that people will go the extra mile to earn the prize. The name they give this motivation is called winning. This is why they install scoreboards in sports arenas. How effective do you believe a basketball team would be if there was no scoreboard and the players couldn’t see whether they were winning or losing? The reward doesn’t necessarily have to be monetary, however. The reward could also be recognition at an awards dinner. It could be dinner for two at a fine restaurant. It could be a weekend getaway for two at an upscale hotel. It could even be a trip for two to a nice resort. Rewards, awards and incentive payments are terrific ways to motivate employees to stretch and put more energy and effort into their work. Incentives also aid in making work more fun. Some owners will rebut, “…Yeah, but that’s what we’re paying them a salary for.” Yes, that’s true. But would such naysayers want to work for a company that paid them a salary and kept them in the dark as to how they are measured or how their bonus is calculated? Discretionary bonuses would be like the tournament committee at the U.S. Open deciding how much to pay the golfers after play had stopped and the tournament was over. Based on what I see in the marketplace, the companies that get the most mileage out of their incentive plans are the ones that make it clear how the company’s incentive plans are designed and what level of performance is required to achieve a specified reward. Better Behavior Wheel Parenting Tool. - An upbeat, fun parenting tool for parents wishing to manage their behavior challenged kids. Kirkhams eBook Video And Software Store. - Martial arts tutoring behavioral problems eBooks. Workout timer for health and fitness. Freeware shareware free newsletters. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 |
More Articles:1. A Smarter Way to Get Paid By Vernon Stent The majority of companies employ their staff on a time basis. The employee is contracted to work so many hours each week and is paid for each one of those hours.The questions is....why?Pay-for-Time versus Pay-for PerformanceIf an employee is employed simply to be somewhere and not have any other function then it may be understandable that they are paid solely on how many hours they are there. A few - very few - examples come to mind: perhaps a security guard who simply reports what he or she … 2. Groove Network. Good, but how good? If you are in a business that passes documents around to be reviewed and edited over and over before they are ready to be posted for advertising or for a client, then you have probably already heard of a software solution to help keep your 'floating' documents organized from Groove Network. You may not be aware that there is another option out there. In this article you will be presented with some basic information about the differences in collaboration software from Groove Network and NextPage.… 3. Employee Retention: It's a Changing Game By Michael Beitler As a management consultant, I have seen some poorly conceived retention policies at otherwise well-run companies. The philosophies underlying these policies lack some basic knowledge of two things:1. human nature, and2. the changing world around usHuman NatureLet’s start with human nature. The practice of management requires an understanding of how people work. Successful managers can be forgiven if they do not know how a particular machine works, or how to debit and credit the general ledger,… 4. The Value of the Sales Team Assessment to the Sales Executive� The Sales Team Assessment is almost an unheard of event for most companies. Primarily because most consulting firms don't do it. They may provide some form of critique of the sales teams' effectiveness while reviewing the companies overall operations, but a real Sales Team Assessment is rare. A Sales Team Assessment can be of two varieties. The first is to get a broad overview of the workings of your sales team in light of the objectives and resources of the company. This also includes an analys… |
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