Data Science
Has anyone built a system that rewards employees based on how they generate value for the business? the best system I've seen so far was done through salesforce for a marketing and sales team, so every team member had a dashboard with a tangible goal and it didn't matter how the goal was achieved, and I think that worked great because I think very few smart people like direction or to be managed (I'm not talking about coaching). In my case this changed completely the way I worked, so instead of my boss telling me what to do I had complete control of my strategy, and for the first time I stopped caring about vanity metrics and I increased their leads in 300% (I was doing digital marketing). How are google or other companies doing this? Can it be done for other teams that are not marketing? i.e how to tie a new feature one developer is responsible for value generated? Can we tie UX metrics with revenue?
2
Answers
Viral Videos, Internet Marketing & Branded Content
ughh this is a big hairy question for many businesses and from past experience consulting, it's going entirely succeed/fail based on your specific business & it's existing operational behavior / employees comfort level in adopting new tools. Integrating across existing software/tools is always the problem here, and is almost what kills every effort in improving one's business systems(sales/biz-dev optimization in your case); There's so many team/project management services online it'd be pointless to list without knowing more about your existing systems & business size/stage with employees. HOWEVER, to end on your point of 'value for the business' as opposed to the bias raw REVENUE creation being attributed to each employee: sounds like you want/need a simplified way of logging events in which are abstract in value but could at the end of say each week/month be reviewed/curated/compiled into understanding metrics/tags/categories for a manager/CEO to review within each department/employee/manager... quantification is what really hurts this as all businesses are complex in their own specific value offer/delivery, so all I can think of to end on is: let each level of management comment/tag/note their own interpretation of the 'quantified or tagged' value be it $10, 10k, or satisified customer, repeat buyer, new bizness market identified, marketing opportunity identified, social media result(hearts, likes, retweets, etc); Hope that helps
Answered almost 9 years ago
Technology, Data, Product and Startups
Balance score cards are a good way to create goals for the organizations and translate in into tangible ASKs .
If the purpose is to increase the bottom lines by 5% , you can break it down to
- Customer success Team - increase retention by 7%
- Technology team - reduce operation cost bt 10%
The percentage can be broken down into specific measurable tasks and be passed on the manager to reportee to the last man on the line.
Meritocracy should then be based on target % completion
Answered over 8 years ago