Tip and suggestions for setting KPI's for your staff. I noticed that incentives seem to play an extremely important part in the hiring process and finding talent.
Tip and suggestions for setting KPI's for your staff. I noticed that incentives seem to play an extremely important part in the hiring process and finding talent.
It may vary by industry. We found it very hard to do proper performance related bonuses because the team are all friends and refused to score each other objectively. They wanted everyone to get the same. It was both illuminating and frustrating at the same time.
KPI yuck
Ultimately depends on what you want to measure and what motivates them.
Money always works as an incentive/motivator
The important thing is how are you going to measure it and who is going to be reviewing the KPI stats.
I once worked for a firm where I exceeded all the KPI's but because I didn't follow the script word for word I didn't hit my targets so lost out on a lot of bonus.
Fickle managers in charge of KPI's are deadly for morale.
I think money at the very best works as short time motivator.
My personal opinion is that incentives can almost never be structured in a way that keeps people motivated long term and is fair at the same time.
We got 300 people in China and none of them get any performance incentives. Same for the staff in HK.
I strongly disagree that money is a good motivator. Both from experience as an employee and employer. I think that money is a threshold. Above the threshold, softer factors like enjoying the work, having a good social environment at work, having control and responsibilities and being recognised are far more important. And each person is slightly different too which makes design of standard schemes very hard.