2014-05-15 00:00:00 General English https://d3hrajprm8dqcv.cloudfront.net/wp-content/uploads/2017/05/08195229/reward.png How to Incentivise Teamwork

How to Incentivise Teamwork

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In a previous post we have explored How to Create An Incentivisation Program For Your Employees . One of the pitfalls we examined in creating an Incentivisation program was that certain employees may get de-motivated and envious of other better performing individuals. Keeping this in mind, it may be a better strategy for your business to incentivize team work rather individual performances. Here are a couple of ways you can go about creating team incentives: • Shared Financial Incentives: The simplest way to incentivize a team’s performance is to offer them an equal share of the pie. Put metrics in place to measure productivity or cost reduction and how each team member has contributed to the increase or decrease and reward them accordingly. • Shared Goals: While each member of a team works on different parts of a project, ensure that they have shared goals and also they all stand to gain from the achievement of the group goal. This will result in better cooperation between team members and a adherence to deadlines by the whole team as they motivate each other to submit work on or before due dates. • Put in a mentorship program: Your employees will have varying degrees of experience and skills. One way to ensure that there is a knowledge transfer between them is to create a mentorship program. Allow senior employees the opportunity to impart their learning to younger ones and you will find that knowledge especially in terms of the use of technology will also begin to transfer the other way. Create a program that recognizes and rewards good mentors and mentees. • Create Skill-based Incentives: As a small business your employees are the backbone of your business, your company can only go as far as the skills of your employees will let them. Therefore it is essential that your employees skills grow along with your business. Create incentives that reward employees who are able to learn from one another and become proficient in a new skill. This will ensure that your employees continue to grow with your company and create a more closely-knit team. • Flexi-time and Shifts: Often when working on tight deadlines it requires a team to come together and work at all hours. One way to facilitate better team work is to allow your employees to work at times that suit them best. This could ensure that team members with similar job roles can take off where other members left off. An important feature in implementing this incentive is to ensure that there is clear communication between team members and one employees’ work output is not delayed due to lack of availability of the other team members. • Create Team based contests: Nothing can boost team morale than working together outside the realm of work towards a common goal. Create a team based game that your employees can play to blow off steam or learn to work together. Ensure that the reward means something to all your employees and you could have a well-oiled ship in a matter of weeks. Follow these simple guidelines and you will be able to create a strong, more in-tuned team for your organization.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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