Old Chinese Wisdom
It’s pretty difficult to keep people inspired in the long term when they do all the work and owners and management get all the money. Smart management realizes that sharing the profits, if properly planned, can be an investment, not an expense. It can be a tangible way to show people that their performance is needed and that their success can pay off in a personal way.
On a 3 × 5 card, write: “Cash rewards for performance work when they are applied judiciously and occasionally.” Use this card to remind you that occasional cash rewards as incentive do work when they are justified and when they don’t become an expectation.
There’s an old Chinese proverb that says, “When you drink the water, don’t forget the ...