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Goals, Roles, Pay, and Performance

2012-10-15 12:23:57

Who's at fault when employees don't meet goals? If you receivedan allowance

when you were a kid, you probably have astrong understanding of "pay for

performance": Take out thegarbage, earn a dollar. When applied to the business

world,the basics are the same:

Set specific, measurable goals.

Communicate with employees about the goals and how to achieve them.

Recognize employees' achievements with specified recognition or rewards.

First, understand that pay-for-performance programs are notuniversally revered.

Not everyone thinks such plans yieldtrue productivity and loyalty. For

starters, many surveysshow that employees value recognition, learning, and

aworthwhile job above pay.

But if you've promised goal-based compensation andhaven't clearly communicated

roles, goals, and paths, youmay end up with disgruntled employees,

reducedproductivity, low morale, and higher turnover of the best and brightest.