Have you ever seen the dolphin show? It was spectacular! The dolphins were able to perform the stunt instructed by their trainers. They can jump through the burning frame, dance in unison and carry the trainers around the pool. The dolphins are very intelligent indeed and can communicate with human and thus able to perform many incredible stunts giving proper training.
However, did you notice every time the dolphins finished a stunt requested by the trainers, they were given a small fish as a reward? Imagine this scenario, the trainers instructed the dolphin to perform some incredible stunts, after which they told the dolphins they would be given their rewards at the end of the day. What would be the dolphins felt? I believe the next time they will not perform as well as they expected to be.
How do you reward your employees today? Did you ask them to achieve high target (incredible stunt) but told them that they will get their incentives at the end of the year. Though the idea of giving the incentive at the end of the year is a norm in most industries, it can be a de-motivating factor to the employee. For some, they felt that they have been chasing carrot without knowing whether at the end of the year they will get their incentives; especially for those organizations which will only announced incentives or bonuses when the company overall performance is making good returns. This is actually punishing the high performers for the under productivity of the low performers, It usually create discontentment.
Why not from today, learn something from the dolphins trainers; reward your employees instantaneously so that they feel that they have been take care off and will perform even better for the next stunt (target) you set for them. Why wait until end of year to reward the high performers, your immediate reward need not be huge but it will motivate them to a greater height.
One real estate agency that I knew had adopt this philosophy to reward their sales staff, every time they conclude a deal and payment received, the sales staff will get his commission immediately. They do not have to wait for the end of the month. While many estate agencies are finding it difficult to find leads on buyers, they never run out of leads.
Learn something from the dolphin today!
SK Wong is a Charter Marketer with a MBA in Finance providing Marketing and Risk Management training and services to his local business community. His online Business Resources for Soho and aspiring netrepreneurs can be view at http://www.clickabiznes.com