talent retention

team building

newsletter

During our team building work with client organizations, we've compiled a collection of barriers that we see creating enormous stress for individuals, blocking performance in teams, and robbing organizations of productivity.  Each issue, one of these barriers will be addressed in our newsletter.  We'll include some suggestions for breakthrough thinking to give you ideas for how you might begin busting through these barriers.

Free Team Building Newsletter

Barrier #13:    Beyond Traditional Compensation

Breakthrough #13:  There is a lot of innovative thinking today to meet the needs of a constantly changing workforce.     

If you give an annual bonus no matter what the performance, it’s meaningless.  And soon enough it becomes an expectation … not an incentive. 

But there’s a lot of innovative thinking these days about bonuses.  For example, a major telecommunications organization is blazing a new trail where compensation and reward are concerned.  Every year, the company’s employees are given $1000 of “mad money,” an allowance that must be spent on anything that is “fun.”  

Typically, an employee might spend a bonus on something like paying down a debt or mortgage, or might even invest the money.  But the idea behind this “fun money” concept is tied to the organization’s challenges.  Realizing that the rapid growth of the company and its services were placing a heavy demand on its people, the organization decided to mandate “fun.”  After they’ve had their “fun,” the employees submit the bills and are then reimbursed. 

This company has other ideas for retaining its talent.  In the company lobby is a large “rocket chart” that measures the number of new customers signed up.  If the chart reaches the organizational objectives on time, every company employee shares in a bonus that could amount to as much as $5000 for each.    

   Remember:  Old-style thinking won't motivate new workers.

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