Thursday, February 14, 2013

The Importance of Measurement and Rewards




As a leader, your success depends upon the success of others.

While there are many components that must be effectively led and managed to succeed, there are two areas that must be clear and effective to get consistent results: Measurement and Rewards. Both have a major impact on your ability to increase performance and should be highlighted in any action learning leadership development efforts.


Measurement
Problems or frustrations with performance reviews are often due to performance measurement systems that do not meet the following six criteria required for them to be effective: Trusted, Fair, Accurate, Providing a useful comparison, Timely, and Transparent.

Rewards
For more powerful reward and compensation systems, be sure that the rewards that are used to motivate the pursuit of objectives meet all of the following effectiveness criteria:
  • Emotionally felt

  • Relevant

  • Meaningful to the target audience

  • Timely

  • Directly linked to achievement

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