The Strategies that made Mary Kay Successful - 9
Sweetening compensation with an array of performance bonuses.
One of the best motivations for people are seeing rewards in action. I would take it a step further and say "relevant" rewards in action.
For Mary Kay, there were a number of ways she rewarded her top performing people. Some were rewarded with positions like sales director or national sales director. Others were offered the use of the famous pink Cadillac for a year. Still others were offered a array of cash bonuses.
I know that I've received bonuses in the past the in some cases weren't really encouraging at all. I didn't realize it at the time, but the reason was there was absolutely nothing I could or would do with it. Having a variety of bonuses and even offering options for bonuses and rewards are a great motivator because it shows people you're thinking of the personally. This type of news travels across an organization fast.
Performance or productivity is everything. I know that the number one way of motivating workers isn't financial anymore, but there are a lot of people that still like that, or something similar to it.
This to me is a vastly underutilized area that needs to be constantly reinvented. People have such vast interests, that we must make sure when we reward them, that it's something that they really appreciate and has value to them. That little extra effort on our part will mean a lot over a long period of time.
Anything we can do that's real and in response to being earned, needs to be rewarded when it's done above what's expected. There's nothing like a lively reward program that's dangled in front of our people. When it's done thoughtfully, it's one of the more powerful tools to use to maintain and increase performance and productivity there is. Mary Kay was an expert at it.
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