Are You Crushing Your Competition
“Employee Critical Drivers and Performance Bonuses”
By Jeff Earlywine
This is the last in the series on Crushing Your Competition. You may be asking, “Why did he end this series on this topic by discussing employees?” That is a very good question. I have heard it said, and I am a full believer that if you have happy employees you will have happy and satisfied customers. So… how do you get happy employees?
That is the question that drives many business owners and bosses crazy. It is not one that is easy to get a handle on because every employee has different likes/dislikes, tastes, personalities, and backgrounds. So how do you put one thing in place in your business that assures that your staff will be happy and motivated?
There have been many people long before me researching this topic. Asking questions like: What does it take to bring these qualities out of the nine-to-fivers? What motivates employees to do better? What can I do to make my staff love our customers, and show it? Even though each employee is different there are some similarities.
One study done by Talent Culture revealed the following:
What Employees Want -
What Managers Think Employees Want
Here are six motivation secrets that can help you keep your work force happy and driven to succeed.
1. Individual attention matters.
While teamwork is an important element of company success, and grouping your employees together has advantages in building that "team" mentality, nothing beats individual attention when it comes to individual motivation. The best way to go about this is to offer direct praise when an individual exceeds performance goals or does some exemplary work.
2. Advancement opportunities are enticing.
People tend to feel stifled when their job becomes repetitive or stagnant. Going too long in the same position, with no changes or hope for change, will eventually demotivate even the most ambitious employees.
3. Leaders set the example.
As a leader within your organization, people are going to look to you to set an example for the rest of the group. You're going to be setting a tone, a work ethic, and a set of values for the company whether you mean to directly or not, and setting the right example can have a meaningful effect on the mentality of your group.
4. Socialization makes people more committed.
Most people try to separate their personal and professional lives, and it's usually for the best. Trying to make everyone in the office best friends is a bad idea for a number of reasons, but that doesn't mean they shouldn't have meaningful conversations outside of a typical work environment.
5. Transparency is the key to communication.
Transparency builds trust; when people understand that you aren't hiding anything, and that you'll listen to anybody, they're far more likely to respect you as an authority and appreciate you as a leader.
6. Critical Drivers and Performance Bonuses.
Studies have shown that money, oddly enough is down on the list of what employees want. However, do keep in mind, employees want to be paid for doing their job. I have never been a big fan of calendar type bonuses (i.e. Christmas bonus). After a while employees seem to just expect it. What I am a fan of are critical drivers and performance bonuses.
To insure your staff is meeting your expectations and actually obtaining a ROI, it is important define each positions’ critical drivers. Critical drivers are vital because they paint a clear pictures of what’s expected out of your employees. They inform the entire team of what is to be expected, the tasks at hand, and how they contribute to the overall success of the business.
Performance bonuses are agreed upon amounts given to employees when they accomplish their critical drivers. They can be individual for each employee or team related so everyone on the team benefits. I have a client that gives out gift cards to the entire staff when they hit a “team” critical driver. I have another client that buys his staff lunch when they hit the critical driver.
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