Achieve Superior Results with these REWARD Strategies
When you reward employees, follow these approaches for superior results:
Reward solid solutions, not quick fixes. With pressure from the top brass to match profit projections, Bob laid off 30 percent of his labor force prior to Christmas. Quarterly profit projections now looked super. But after the holidays, remaining workers were hot under the collar. By summer, they had voted in a union.
Reward risk taking, not risk avoidance. Too often, the ethic of most organizations is "Don't make mistakes." But the avoidance of risk is the worst risk you can take. It's the surest guarantee of boredom, stagnation and ultimate failure.
Reward creativity, not conformity. Steve Wozniak was an engineer bored with laying out computer chips. Three times he asked his boss if he could work on another project. "No" was the answer. He went home and built the Apple I personal computer.
Reward action, not paralysis by analysis. Good managers tell workers "You won't be penalized for a bad decision, but you will be for indecision."
Reward streamlining tasks, not complication of task. At Intel Corporation, it once took 95 steps and 12 pieces of paper to request a $2.79 pen from the supply department. The procedure was cut to eight steps and one slip of paper.
Reward quietly effective people, not squeaky wheels. One manager discovered that he spent 80 percent of his time mollifying heavy-complaining but low-producing sales reps. He decided to spend more time giving positive strokes to top performers. In turn, they sold more -- and some of the low producers jumped into the top third so they could still enjoy their boss's attention.
Reward quality work, not fast work. How can we do it faster and cheaper? These are questions asked to improve productivity. A better question: "How can we do it right the first time?"
Reward loyalty, not turnover. Many firms teach people to be disloyal. Example: Firms where the best paid are the most recently hired, or firms where getting a raise involves threatening to quit. Instead, provide job security, promote from within and offer fair pay and benefits.
--Source: Michael Leboeuf in his book "The Greatest Management Principle in the World"
Did you know that “small wins” motivate employees best? Learn more here.