November 25, 2011 by Bob Hill
Various studies have proven these four areas separate top-notch managers from their average counterparts:
- The ability to consistently connect rewards and incentives to corporate goals: Most managers understand the value of providing incentives that motivate employees to constantly raise the bar on their own performance. But the key is finding ways to tie those incentives to a company’s mission and goals. Example: The Ritz Carlton, previously rated No. 1 in PeopleMetrics‘ Buyer Loyalty Survey, awards additional bonuses and incentives to employees who constantly go out of their way to let guests know how much their business is appreciated. Do you provide rewards for employees who endorse the company’s values? Do staffers have incentive to promote the company’s values and mission?
- Follow up and follow through: Great leaders use goalsetting as a way to encourage consistent performance and keep employees focused on improvement. But what’s just as important (if not more) is having a system in place for following up on goals and adjusting based on each employee’s progress. One way to overcome that: Meet with staffers once a quarter (as opposed to once a year) to review previous goals and adjust accordingly.
- The ability to set quantifiable goals based on key metrics: Things that get measured are things that get done. Even though certain goals are qualitative, there should always be an agreed-upon means for measuring an employee’s progress. Metrics help managers pinpoint where a staffer may be falling short, which is the first step in overcoming the problem.
- The willingness to consistently update and adjust processes: The business world is constantly changing, as are the incentives that motivate employees. Consider these tips for providing stronger incentives for staffers to close more than ever: Update your comp so it reflects the way your business has changed, and ask individual employees what other incentives would motivate them to close more business.