Workplace Recognition and Incentive Programs

Talent + Performance Strategies = Engagement

Posted on April 5, 2010 by Carl Bonura in Uncategorized

Companies who want to achieve outstanding performance need to be clear about their business strategy and objectives. Their strategy needs to be understandable and consistently applied. It needs to be part of the organization’s culture.

Once understood, the organization’s reward strategy needs to be aligned with achieving those business objectives.

The approach seems logical, but it takes a coordinated, concentrated effort to accomplish such an alignment. Studies have shown that if followed, tying business strategy to performance management will reap improved organizational performance.

Another important component of organizational performance is having the right talent, in the right place at the right time; in other words, talent management. Understanding what competencies are required to accomplish the business objectives is the starting point. Then, ensuring that your talent reward strategy is aligned to your business performance will help keep the right employees engaged. Engaged employees put in more discretionary effort, result in more satisfied customers and ultimately lead to improved organizational performance.