Performance Improvement Programs 1 9 11 Micklos Presentation-1

Performance Improvement Programs 1 9 11 Micklos Presentation-1

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Incentive, Recognition and Performance Improvement Programs  In this chapter, we will review the different types and aspects of performance improvement  programs.  If properly structured, these types of activities should be viewed as an investment  rather than an expense. The question then becomes, when is the right time to make this  investment?  The answer is simple but not obvious given the many different circumstances in  business.  When growth is taking place, you want to operate a performance improvement  program to ensure you are gaining more than your competition.  When business is flat, an  added spark of incentives can make growth occur when it otherwise would not.  In declining  markets, this type of investment can really pay dividends into the future by stealing market  share from the competition.  Because they are effective in all business climates, performance  improvement programs should always be considered when formulating any business  strategies. Incentive, recognition and performance improvement programs are powerful tools that should  operate on and reinforce key principles of effective leadership: Setting clear expectations Making expectations credible Rewards following positive performance or improvement Compelling consequences following poor performance When properly conceived, designed, applied and operated, such programs will deliver predictable  and measurable improvements in the results you obtain from a variety of participant groups.  Internally, sales teams and non-sales employees all can be motivated to provide significant  improvements in revenue and profits, productivity, morale and a variety of other important areas.  Externally, these programs are highly effective with manufacturer sales agencies, distributors,  dealers and even customers. Two fundamental aspects of these programs are:  there are no simple formulas  there are very few hard and fast rules  Human motivation has been studied extensively for many years and these studies have yielded  two primary conclusions:  motivation isn't easy  motivation is much different from one individual and situation to the next
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Effective programs are a balance of art and science, both of which benefit greatly from  experience. Many companies hold fast to a do it yourself ("D-I-Y") mentality. Even though some D- I-Y programs appear to produce the desired results, most deliver far less than they could, and few  deliver measurable results that show a clear and positive return on investment. Similar to other  specialized consultants, the experts in performance improvement can be a vital addition to your 
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/30/2012 for the course BUSINESS 300 taught by Professor Smith during the Spring '12 term at Aquinas.

Page1 / 26

Performance Improvement Programs 1 9 11 Micklos Presentation-1

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online