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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. Innovation Management – Six Crucial Steps By Kal Bishop Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development … 2. Innovation Management: The Time Factor By Kal Bishop Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that in… 3. Strategies for Planning and Conducting Effective Meetings By Kate Smalley Did you know that business executives spend about half their time sitting in meetings? In fact, 40 to 50 percent of their working hours are consumed by meetings, according to a study by the Annenberg School of Communications at UCLA and the University of Minnesota's Training & Development Research Center.Meetings are inevitable - whether you’re a business executive or member of a volunteer, social, or civic organization. But meetings can be a very effective and efficient way to communi… 4. Overthrowing eMail Tyranny By Sharon Teitelbaum Do you have a friendly relationship with email, or do you feel like a slave to your email?Do you get a sinking feeling every time you check your email because you know there are more new messages than you even want to know about, let alone read?Do you spend time reading “interesting” and “valuable” material that people have forwarded to you when you really should be doing other things?Do you check your mail several times a day and feel that every message requires your response within 4 hours?D… |
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