Friday, 24 March 2017

The Management Tip of the Day from Harvard Business Review

 


THE MANAGEMENT TIP OF THE DAY: Harvard Business Review

March 24, 2017

Give Your Team Both Collective and Individual Rewards


As a manager, it’s your job to foster and encourage team identity. Research shows that even selfish individuals become cooperative — and possibly altruistic — when they feel that they’re part of a group. So how do you strengthen your team’s identity? Reward behavior that advances the goals of the group, rather than the individual. Offer your team bonuses, recognition, raises, flexibility, and opportunities based on the entire group’s performance. To avoid free-riding, individual rewards should be given to individuals who make important contributions to the team’s success. This rewards indispensable team members — the unsung heroes who work late, cover for colleagues, and enhance the success of the group. Combining individual and collective rewards ensures that individual members are encouraged and motivated to pursue the team’s goals and help the team succeed.

Adapted from "The Problem with Rewarding Individual Performers," by Jay Van Bavel and Dominic Packer


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