We are not cake fans. It may not be obvious from the title of this blog piece. We would rather have pie. Pumpkin is preferred, followed by cherry and then marionberry.
So often, as we set goals and define tactics, we spend very little time on what the rewards should be . They are usually not up for discussion.
So ask your people what they want for rewards. As much as possible. Give them authority to design the plan.
EVEN OH MY GOD
LET THEM ALLOCATE THE MONEY.
Our history with our clients shows that the more the ownership gives authority to design compensation to employees, the happier the employees are and, not amazingly, the more successful the company is.
And the best plans are the ones where the employee can elect how they get compensated, say between more money or time off. That approach REALLY hits it out of the park.
Its simple. let them design it, let them pick….
So yeah, we will take the cake if that is all you are offering but my, oh my, we like pie.