The Power of Employee Incentives

By Katie Burns

Jul 30 2018

At the 2017 Silicon Y’all SaaS and Digital Media Summit, Matt Hamilton of Summit Partners shared insight into employee incentives as a great method of motivating employees to achieve desired business results. There are various types of incentives, each with its own unique way of influencing employee behavior. When used effectively, these incentives can have a positive effect on the overall success of a business.

The Power of Employee Incentives:

1. Incentives provide motivation: To develop effective incentives, employers must understand why people do what they do, which in turn helps them understand how to get employees to do what they want them to do.

2. Incentives set direction: Incentives help employers effectively communicate the strategic and tactical goals of the firm.

3. Incentives are “always on”: Incentives never take a vacation – and are often the most consistent and reliable managers.

 

 

Related Posts

Video: 15 Questions to Score Your Sales Organization

Sep 20 2018

  Here are 15 questions to ask yourself about your sales organization. These simple questions quickly reveal key strengths, weaknesses, and areas of opportunity. Video transcript: Hi!  I’m Anna Talerico with Married2Growth. Let’s talk about the maturity of your sales organization. Because that usually directly translates to your sales efficiency and results. I recently launched a […]

Read More…

Execution Separates Great SaaS Ideas from Great SaaS Businesses

Feb 07 2019

If you’re a $1M+ annual recurring revenue SaaS company, you probably had a pretty great idea. You also likely had at least a passable strategy to get to that first milestone of success. And you must have had some semblance of a product. But the odds remain very low that your $1M+ ARR will scale […]

Read More…

The Customer Success Team Can’t be Responsible for SaaS Customer Churn

Mar 05 2019

There, I said it.  As a SaaS founder who led sales, customer success, product support, and professional services, I fully believed every customer retention issue was squarely on my shoulders. And every customer retention win was because of the product.   I LOVED our product and the value it brought to our enterprise customers. I passionately […]

Read More…