Most performance management systems are focused on individual achievement, but rewarding a team can be just as powerful. “Team rewards work really well if you are trying to change behaviour and the culture of a business,” says Bill Alexander, MD of experience gift company Red Letter Days. “It can also help get people to work together.” To get it right, remember the following principles:
- Make sure everyone in the team understands and agrees what success looks like, and how it will be measured.
- Consider conducting team performance reviews as well as individual ones.
- Get to know the team so you can ensure they value what they’ll be rewarded with – especially important if it isn’t cash.
- Focus on the behaviours that lead to team success, rather than on individual accomplishments.
