With just over a month of business days until the end of the calendar year, your plans for 2019 should be solidifying. What markets you will pursue. What products and services you will focus on within those markets. What plans you will launch to support those objectives. What compensation systems will reward progress. These and other elements of your 2019 plans should be clearer and the strategies and tactics are firming up.
As you look to your team to implement these plans, you need to make sure you have not forgotten about the attraction factor for them to take ownership in both their individual success as well as the overall company success. What is the glue that will bind them to the plans so that when challenges present themselves, rather than conceding to the issue, they become motivated to overcome the problem?
One aspect is having, understanding and appreciating the core purpose your business exists. This fundamental attracts talent which wants to be part of a winning culture.
A second aspect is to individually know what makes each of your people tick. Not how they act but what deep down inside of them causes them to take action. What will prompt them to take a risk or move out of their comfort zone to achieve more than just going through the motions?
This understanding goes beyond sales compensation plans. Yes, those are critical to reward those people which have the direct responsibility for revenue generation. You need to have rewards systems which acknowledge the contribution of each of the various aspects of taking care of your customer. Salespeople get a commission for closing a sale but what do the operations people get for executing the deliverables of that sale? It is simple to say that you pay them for that deliverable in their regular pay. This may be true but having rewards that acknowledge the direct contribution to the company success should also be part of your rewards system. It may not be a financial reward that they see in a paycheck but possibly a team gathering by department for achieving specific goals or objectives. These acknowledgments incentivize your team to come together to make progress for the business.
This week you need to go out into the business and find out what your team would like for recognition and rewards. They need to be concrete and able to be specifically measured. They need to promote the best behaviors to achieve the plans for 2019. Once you know what they might be, then incorporate them into your goals. Measure yourself based on how well they make these accomplishments. When the team is lagging then you as the leader is also lagging. Make 2019 a year of progress.
Interested in what type of rewards systems may be best for your team? Give JKL Associates a call at (313) 527-7945 so we can assist you in growing your business in 2019.