Without performance incentives, organisations have no way of sharing upside results with the very teams and people who create them. The win-win philosophy has to be embedded in everything we do today, not only with customers and communities but also with teams and people who drive that value to society through the businesses created to do so.
Cracking the performance whip has for decades created a grudgeful relationship between capital and labor, even worse is the view that ” we pay them every month why there should be more” It is unbelievable that we still hear this in today’s times.
Without strategically aligned, well-thought-out performance incentives top performers will migrate to new spaces, not yours, engagement levels will stay at ridiculously low levels of almost 60% and people in these workspaces will deuterate in their wellness scores and eventually break and break the very fabric of the asset’s organisations are attempting to grow and maintain.
Of course, there are performance incentive programs that are not strategic, they are often DIY implemented without specialist advice and short term in nature. They often are not holistic and focus on certain categories of employees only. Either executive level only or revenue drivers only. The downside of this is that resentment builds from those not included and heard, resulting in a second-class citizen feeling. Rewarding individual effort without consideration for company values and culture. Resulting in a toxic high-performance culture that is destructive and creates even further disregard for an inclusive let us perform together culture.
There is absolutely no doubt that from deep-level research and countless positive case studies of businesses around the world that companies who pay special attention to creating cultures that are enhanced with opportunities for people to participate in reward and recognition programs, incentive competitions, experiential and lifestyle improvement rewards keep moving forward at a sustainable pace for improved people and business outcomes.