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Posted on Nov 29th 2018
How to Define and Incentivize Impact
Many small businesses find themselves stuck operating with incentivization programs that don't actually serve business goals. Here are ways to define and incentivize impact, brought to you by our HR services for small business.
Key metrics of the organization have been outlined. Teams are in consensus about what's important. Top-level goals are being hit.
Still, not much is changing when you look at the bottom line.
Incentivization of the wrong metrics can be hidden or obvious, but it usually stems from one central place:
The wrong definition of impact.
Consider the call floor selling $50,000 coaching packages to high-earning individuals. Impact should be defined in the activities that establish trust, portray credibility, validate success, and build relationships.
But instead, the team's impact is measured in the volume of dials they make every day. Rather than listening to understand, directly addressing stopping points, and putting the right follow-up plan in place, the representative's focus becomes quickly wrapping up the call to make the next dial.
The long-term economic consequence of this mistake is obvious. But the cultural impact is just as expensive.
Rather than engaged employees that are supported in making genuine connections and empowered to create meaningful solutions, the organization turns over its people, borrows time against draining morale, and takes unnecessary hits to its reputation.
Understanding the correlation between your definition of impact and your goals is essential in plotting course corrections when the water gets choppy.
It's also essential in effectively motivating your team to maintain the value-building activities that ultimately define and uphold your brand - keeping them engaged with important and rewarding job functions they're proud to own and eager to improve.
Do you have any questions? Contact Pay Pros today to discuss our payroll service company, we're happy to help!