The Innovation Show
Steve Kerr - Reward Systems Part 2
Dec 14, 2024
In this lively discussion, Steve Kerr, a reward systems expert and author, shares his wisdom on creating effective rewards within organizations. He introduces the intriguing 'bullseye exercise' for defining performance. Steve draws on his GE experience to highlight the 'wing to wing' approach, the importance of aligning rewards with business goals, and fosters a culture of innovation. He also tackles challenges in measurement, the delicate balance of stretch goals, and the necessity of timely recognition to enhance both individual and team performance.
42:55
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Quick takeaways
- Defining performance in actionable terms is essential for effective reward systems, as it connects observable behaviors to desired outcomes.
- Setting stretch goals can drive innovation, but organizations must balance ambition with a supportive culture to prevent punitive repercussions.
Deep dives
Defining Actionable Performance
An effective reward system begins with defining performance in actionable terms, emphasizing observable behaviors. This process involves identifying specific actions that distinguish high-performing employees from lower-performing ones, such as attendance, productivity, or customer satisfaction. By operationalizing vague concepts like 'attitude' into concrete behaviors, organizations can better connect rewards to desired actions. For instance, determining what satisfied employees do compared to those who are dissatisfied helps clarify measurable objectives.
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