It’s all about the money, AND It can’t be all about the money.
Both are true simultaneously. A constant tension as we lead our small businesses.
XM Truth: Profit grows the business, and hearts drive engagement.
We have clients with large and small teams. Out of generosity and/or a personal drive for financial success, they build an incentive system of commissions, bonuses, and piecework incentives in hopes of positively driving performance.
Individual incentives are a double-edged sword. Driving the individual performance, while handicapping the team’s ability to collaborate. A frequent side effect is when ‘Me’ becomes greater than ‘We.’
Most humans are not primarily driven by extrinsic motivators (money). Our experience shows that once an employee believes they are compensated fairly, the intrinsic motivators become the primary drivers of engagement. The heart drives engagement, appeal to the heart.
1. Purpose: Make the work meaningful. What difference does your business make?
2. Team: Humans long for community. Outside of our families, our work teams really matter.
3. Results: Our souls are fulfilled when we see the results of a meaningful job well done. It has nothing to do with the balance sheet.
These three (Purpose, Team, Results) are what keep your humans engaged with the work and with each other. Performance Multipliers that drive profit potential and have almost nothing to do with money.
If your whole business plan is a bunch of financial targets, your team is not engaged to their full potential. Is this your gap? We can help you close it faster.