Last Updated Jan 25, 2009 2:07 PM EST
- The Find: If you want your reward system to actually succeed in encouraging the results you want without spawning unintended dysfunctions, this podcast aimed at middle managers lays out basic but useful principles.
- The Source: Cranky Middle Manager's Wayne Turmel talks with Steve Kerr of Goldman Sachs (and formerly of GE) about his book, Reward Systems - Does Yours Measure Up?, in this 35 minute podcast.
- Rewards must be available (and right now money just isn't available for many firms).
- People must be eligible (a principle which starts the host off on complaining about operations staff frequently being ineligible for sales-only rewards.)
- Rewards should be scarce, visible and timely (leading to some discussion of the phenomenon of the annual review and efforts to game the system).
- Rewards should be reversible.
The Question: Do you have any rewards systems success stories (or nightmares) to offer as examples (or cautionary tales)?