Last week I talked about how project management is a lot like running a military campaign. Well, as any defeated (or victorious) arm-chair war-fighter can tell you, morale is one of the most important elements in determining tactical success. The same principle applies to business leadership in R&D.
A strong (and sustainable) team and firm virtually require a strategic award system for employees that address these four areas:
Compensation, Benefits, Recognition, and Appreciation
Your award system must recognize two types of employee activity– performance and behavior. Are you compensating a high-performing employee for time or innovation?
These can be measured at nearly all levels of Project Management by applying the Motivation Triangle:
What this means and how you can motivate your teammates and employees:
- Invite feedback from day one
- Have informal review sessions
- Establish individual and team goals
- Identify what activities are important to your company
- Enhancing customer relationships
- Fine-tuning critical processes
- Helping employees expand their managerial skills
- Genuine interest in the employee’s future career and work-life balance
- Increase compensation and manage by milestones
- Use cloud-based PM software
- Have clear expectations to build your project discipline methodology
- Make it clear who is responsible for tasks and what is expected of them.
- Don’t use the sink or swim method for work assignments
- Don’t let poor performers slip through the cracks without comment (inverse is especially true for high performers!)
- Don’t reward your best team-performers by dumping all of the work on their backs.
- Avoid superficial project management solutions.
- Policies and practices must be prescribed first before team members are taught their responsibilities.
- Sending people to training because they don’t know what they’re good for is a sign of bad management.
- One awesome benefit for consistent excellence in performance and behavior (particularly of the innovative kind!) is longer-term rewards including offers equity ownership. Align individual economic interests with company performance!!!
- If your firm or office has trouble offering a competitive benefits package, consider turning to professional employer organizations like Administaff to gain access to a broader array of company benefits. Do not diminish the low-cost/high-return benefits of employee recognition and appreciation
Avrahami, H. (2012, July 19). “Project Managers: 5 Ways to Motivate Your Teams.” Clarizen. http://www.clarizen.com/blogs/project-managers-5-ways-to-motivate-your-teams.html
“Best Ways to Reward Employees.” Entrepreneur. https://www.entrepreneur.com/article/75340
Chapman, J. (2001). “Motivating the Project Team.” Principle Based Project Management. http://www.hyperthot.com/pm_motiv.htm
Lipman, V. (2013, March 18). “5 Easy Ways to Motivate – and Demotivate Employees.” Forbes | Leadership. http://www.forbes.com/sites/victorlipman/2013/03/18/5-easy-ways-to-motivate-and-demotivate-employees/#4450eaf1682d