Setting goals gives you that feeling of accomplishment and the ability to check another item off your list. It is also a crucial part of business, helping us to keep track and measure our progress.
But when you think about reaching those goals does it include an actual reward?
Research has shown us that more than 80% of business owners don’t keep track of business goals. As a business leader you need a way to gauge your progress and determine if you’re moving towards your objective.
Set some real goals for yourself and your organization and don’t be reluctant to give an actual reward for achievements.
Here are several reasons to have a reward for reaching those business goals:
- Motivation: Remember how being rewarded for good grades in school kept you on the right path and inspired you? Well, it’s kind of similar…the reward system works at any age.
- It makes you feel good: And it doesn’t have to be something over the top to have value.
- Because if you don’t, then who will: Don’t wait for others to prove how awesome you feel about their efforts.
- You’ll work harder: The bigger your achievements, the bigger your “recognition program” can be.
If your goal is a long term one, don’t wait for the reward until it is reached. Honor yourself as you reach certain milestones.
Something as simple as scheduling time for yourself or perhaps a special treat that you’ve felt guilty about indulging in can keep you motivated to keep going.
Also, as CEO, you should be taking an active role in recognizing employees’ achievements by handing out rewards and acknowledgements to your staff members.
Keep in mind that employees can feel rewarded in many ways, not just with cash.
Try writing personal notes, making special calls, distributing cards, and personally delivering incentives to employees.
For top performers, added responsibility and reduced supervision can be incentives, as can flexible schedules, additional time off, first pick of desirable assignments, etc…
The fact is, your workers must feel that they are being rewarded for working hard and meeting those goals.
Remember, as important as setting goals is to our businesses, rewarding ourselves for attaining them is equally as important.
Giving ourselves something to look forward to, keeps us motivated and ready to aim even higher so we can continue to grow and reward ourselves.
How do you measure your success?
Dave Baney is the founder and CEO of 55 Questions, LLC. “ We work with successful top executives with a driving ambition to crush their competition.” We help CEOs and Entrepreneurs improve alignment, communication and accountability throughout their organization. 55Questions.com
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