People do what they get paid to do. Ensure any goal you set is tied to financial incentives for the team. You can do this through the goal-setting and performance evaluation process, as well as through your organization's incentive plans. If your incentives aren't aligned with the goals you're trying to deliver, you'll find your department's results disappointing.
- I know this may be shocking,…but people do what they get paid to do.…Ensure any goal you set is tied to financial incentives…for the team.…You can do this through the goal setting…and performance evaluation process.…You can also look at your organization's incentive plans.…If your incentives aren't aligned…with the goals you're trying to deliver,…you'll find your department's results…are probably disappointing.…I know three situations…where the organization did this right.…
They tied the goals to the financial incentives.…One organization tied business unit financial performance…directly to the bonus,…and the bonus was only tied to the division's financials.…It was crystal clear.…If we hit our numbers, you get your bonus.…If we don't hit our numbers, no bonus.…Another organization was a healthcare provider.…They had a balanced scorecard.…They looked at culture, quality, patient satisfaction,…and financial results.…
All four of those quadrants…were tied to people's incentives.…And by the way,…people needed to hit all four of those quadrants…
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- Set corporate and business unit goals.
- Define driver metrics.
- Explain the concept of supporting goals.
- Identify benefits of tying goals to strategy and incentives.
- List ways to troubleshoot and communicate goals.
- Describe how to hold others accountable and avoid pitfalls.