Office Magic Newsletter
Dynamite Your Status-Quo to Achieve Breakthrough Success.
In this issue
-- The Myth of the Bonus Plan
-- Coming Next Month
Ginny's on fire this month! Take it away, G-Woman!
Write it down!
I'll cut to the chase. Bonus systems are short-term band-aids that don't support SUSTAINABLE success. That's why most everyone ends up hating their bonus system. I agree with Jeff Bezos, Fortune Magazine's 2012 Businessperson of the Year. Here's what he says as CEO of Amazon:
"We also have no incentive compensation of any kind. And the reason we don't is because it is detrimental to teamwork."
Yes, people are motivated by money. But they ENGAGE when they feel they are paid well and making a difference -- when they are a part of something big.
A bonus system is an "IF/THEN" reward system that will narrow your team's focus and sabotage your success. Progress is the key ingredient that creates accountability. Progress depends on feedback.
As the practice leader, you need to pay people enough to TAKE MONEY OFF THE TABLE, so you free people up to do their best, most focused work. Just as Mr. Bezos does at Amazon, you can certainly reward people for success once it has been achieved. The shift is a game-changer!
Your job is to create an environment that engages your team. It all comes down to leadership and communication, and it starts with what I call the Practice Renewal Workshop.
I've taught hundreds of your colleagues, and I can do the same for you right in your office!
Coming Next Month
And hey, everybody --
I'll been invited to speak -- a third time! -- at the Nation's Capital Dental Meeting in Washington, DC in March (www.thencdm.org). I hope to see you all there, and would love to come to your neck of the woods, too. Just give me a holler!
voice: 800-750-8779 or 302-229-9520
Office Magic · 628 Black Gates Rd. · Wilmington · DE · 19803-2240 · USA