What’s the right way to reward your team for a job well done? It’s tricky to compensate people for collaboration, according to a recent post in the Harvard Business Review by Amy Gallo. She has some tips on the best ways to go about it:
“Team members have to understand and agree on what success looks like,” says Gallo. To do this, have a meeting where goals and metrics are discussed, she suggests. Additionally, it’s a good idea to get the team to decide at the outset what an “A” would look like to them.
If you do have the power to change salaries and bonuses at the organization, Gallo suggests linking a portion of discretionary compensation to how individuals fare in teams or units. But if that’s not at your disposal, there are many different kinds of rewards beyond the monetary that still make a difference. A picture of a group who’s done a good job on prominent display or exposure to senior leaders can go a long way in thanking your team.
As important as individual employee evaluations are, team ones may be even more practical. Gallo reports Apple and Google have implemented these into their formal processes. She says not to mention individuals in the report, but instead to focus on what the team has accomplished together.