Celebrate Success!
Savings Beyond Price -Weekly eNewsletter – November 20, 2008
Robert T. Yokl
President & Chief Value Strategist
Greetings!
Celebrate Success
Teams are just like people, they need to be rewarded and recognized for their success. Otherwise, why would your department heads and managers want to serve on your teams (i.e., value analysis, LEAN management, Six Sigma, etc.) again and again? It’s just human nature!
It doesn’t need to be a big reward or recognition either; small signs of appreciation will do the job. I remember a CEO coming to one of his value analysis team meetings — unannounced — after they had met their 90-day milestone goals. He then personally thanked each and every member of his value analysis team for their exceptional good work.
That’s not all! Before the CEO left the team meeting he gave each team member two tickets to a movie that was playing down the street. The team members were blown away by this reward that only cost this CEO $142.22 to do so. So you see it’s not just the size of the reward that matters, but the acknowledgment for the good work from senior management that counts.
Other CEOs we have worked with have given days off when their value analysis teams met their annual savings goal. Or, better yet, have agreed to and then remitted cash rewards as high as $3,500 per team member for exceeding their team’s goals.
It’s not important how you decide to structure, organize, fund and administer your Incentive Program. What’s important is for your healthcare organization’s senior management to acknowledge and recognize the accomplishments of your teams by frequently celebrating their small and big success every month, every quarter and every year.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
800-220-4274
P..S. If you want to learn more about how to celebrate success with your teams I would suggest that you listen to our most recent podcast “Incentivize-To-Save™: which will give you the most up-to-date information on this topic.
P.P.S. Don’t forget to check out my new blog article “Shaping the Perfect Value Analysis Team”. This blog will give you the critical success factors in selecting your “perfect” team members vs. selecting them by chance.
