No one ever said that managing a team would be easy, but what happens when you are responsible for various teams throughout every level of your organisation?
It can be a real nightmare trying to achieve higher team performance if you don’t have management strategies in place.
Although each department may have different goals, the key to peak performance begins and ends with an effective management system that can be carried throughout your entire organisation.
Performance Based Compensation
Entire volumes have been written on the benefits of performance-based compensation, but this concept can be boiled down to one key human characteristic. There are few, if any, people who are motivated to achieve if given no reason to do so. While some companies simply give annual cost-of-living raises in salaries, the most successful corporations understand just how effective it is to set up a reward system to motivate individuals to excel.
Those employees who meet or exceed company, team and individual goals are rewarded. The bottom line for your company is to increase sales so that you are showing a profit at year’s end and that’s what each and every person in your organisation should be striving towards – higher compensation for a job well done.
Well-Defined and Achievable Goals
However, there is no way to reach a goal if that goal has not been clearly defined. Keeping the organisation’s goals in mind, each team should be like a cog in a well-oiled machine or wheel. When one team fails, forward progress is hampered and likewise, when one individual isn’t performing up to par, the team suffers as does the entire wheel – the company.
It is here that it becomes necessary to clearly define what each team is working towards as well as giving each individual different goals to work towards. Once these goals have been defined, it’s time to move on to that rewards system mentioned above.
Once you’ve set the company, team and individual goals, it is necessary to monitor progress along the way. Think of this in much the same way as you would quality control. If you find teams performing well, those goals you’ve set are realistic and the reward system you put in place is probably working.
The only way to get a complete picture of progress towards your ultimate goal is to conduct regular periodic assessments of teams and individuals. It is recommended that you reassess goals and progress weekly so that lengthy periods don’t go by without meeting or exceeding goals.
Team and Individual Assessments
With all the above being said, the one thing which is left to do when utilising performance-based compensation strategies is to understand what motivates each individual to strive towards peak performance. What drives each person to achieve and what motivates a team to work together towards the common good?
The only way to accomplish this is through dialogue. Encourage each person to explore what it is they are looking to achieve and what would motivate them to reach their goals. Some of your team members just may surprise you! Some are motivated by money while others are motivated by an opportunity to climb the corporate ladder.
You May Be Surprised at What Motivates Your People!
Money isn’t always a key motivator, although that comes along with upward movement. Some people just want greater job stability whilst others want a chance to become a team leader. Without going into the psychology of what drives people to achieve, it’s simply enough to know that you need to motivate each person based on rewards they personally hope to gain. Now it’s time to hear what they have to say so that you can develop that compensation package that will drive them forward.
Growing Your Business Is a Team Effort
At the end of the day, effective management strategies recognise that growing a successful business is a team effort. No matter what your corporate goals are for the future, you must also understand that the only way to reach those goals is to motivate each team and individual towards peak performance. Going back to that cog in the wheel analogy, if one individual fails, the team fails.
If one team fails, the company surely won’t reach the goals it set out to accomplish. Remember, growing your business is indeed a team effort so find what motivates your teams to perform and you will get the results you are after.
Alex Morrison has been an avid digital marketer for over 10 years. In this time he has worked with a range of businesses giving him an in depth understanding of many different industries including printing, graphic and web design. As the owner of Integral Media he is now utilising his knowledge and experience with his rapidly increasing client portfolio to help them achieve their business goals.