INCENTIVE-BASED MANAGEMENT -- Show 'em the Money

BY JOHN M. COLLARD

Would you share the wealth with those who were required to help you create it? Of course you would.

Printing company owners willing to invest in realistic incentives that reward achievements accomplished by managers and employees reap the proceeds. The key to success is to: 1.) set realistic goals and timeframes; 2.) hold managers accountable for performance; 3.) communicate measurement and reward methodology—then step back and let them perform. Always be sure to reward positive results when goals are achieved, but never give a reward when goals have not been accomplished. If goals are met, the cash will be there to pay bonuses.