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talent retention
team building
newsletter
(please request
permission to copy content by
contacting us)
Issue #13
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.
Beyond Traditional Compensation
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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