Ideas to motivate your team

I assume you have a team that help you with measuring of credit risk. Have you ever had a problem motivating them? The Balanced Scorecard is a complex system that is not easy to use, if people are not motivated they will not use the system. If the will not use the system it will fail.

As long as motivation is important, let me know you some ready-to-implement motivation ideas:

  • Free training. Offer your employees the opportunity to learn about the new software, technology, and other tools you will be using.  Before implementing the Balanced Scorecard, introduce them to the concept.  Explore some standard techniques, basic examples, and success stories.  Compare your free, internal seminar with the price of a normal Balanced Scorecard seminar—typically, several thousand dollars.  Using company resources, the employee will gain important knowledge.
  • Formal Processes. Likewise, if you want people to take your Balanced Scorecard seriously, then you need to describe the Balanced Scorecard processes according to the standard rules in your company.  Document the process.  Assign appropriate roles and timelines.  You might even print an internal brochure or a press release.  When people check the formal side of your business, they should be able to see how serious you are about implementing and using the Balanced Scorecard.

  • Certification. At the end of an internal seminar, present each employee with a certificate stating that they attended the training.  Now, in addition to new skills that they can use to improve their personal performance and the company’s performance, they also have a new credential that they can mention on their CV.

  • Job Titles. People will judge the seriousness of your Balanced Scorecard process according to the titles and formalities associated with it.  For instance, if there is a special person in your company who will be responsible for the Balanced Scorecard, make sure they have an appropriate job title, like “Balanced Scorecard Manager”—not just “John from Finance, who also does this Balanced Scorecard thing.”  Ideally, your Balanced Scorecard Manager should be a top manager.  That way, you show your employees the importance of the new innovation.

You can learn more ideas about motivation in 40-minute eTraining called Motivation for the Balanced Scorecard.