Proper feedback fuels better business productivity

When it comes to getting the best out of every worker, leaders need to take into account the things that employees most enjoy. Incentive compensation management programs therefore should be outfitted with a bevy of reward strategies, including perks, monetary awards and even public praise. Each of these assets has a different kind of impact on the way people work and behave on the job, so measuring them evenly and handing out the right benefit when it's due could have a significantly better impact on the overall performance of an office then giving out blanket bonuses.

According to Bill Gates, giving out money is not the best way to encourage better performance – positive feedback is. Inc Magazine reported that Gates spoke at the annual TED talks in California, telling the audience that it's important to constantly offer sound feedback and review to personnel in order to ensure that people are staying on track, recognizing their mistakes and are getting noticed for their successes.

Evaluations need to be thorough and timely, even on a daily basis where possible. This shows that bosses are paying attention and gives personnel the opportunity to voice concerns before they get shuffled under the rug. Even peer evaluation reports are an improvement over current systems at some organizations, where sales reviews are limited to a few words on an irregular or long term basis.

New training tactics
This could require a change in sales coaching strategy. As Gates detailed, granting access to experienced personnel in the form of one-to-one mentoring or other coaching could serve as the best benefit to introductory or struggling workers. This exposure grants them an inside look at the best selling strategies, top ways to talk to clients and the smartest workflow tricks that expedite overall completion of tasks.

Gates told the discussion group that he saw many of these positive practices in some of the top organizations in other parts of the world, taking these methods and applying them to Microsoft training strategies while he was still in control of the company. He said that managers need to be more communicative with their employees, offer more training sessions and ensure they're keeping close track of individual progress. Rewarding improvement and offering more learning opportunities to those who fail to thrive are key strategies for promoting a productive overall work environment.