The Missed Opportunity – How Leaderboards Can Drive Performance
Individual performance transparency can be a powerful tool for motivating improvement in work quality and output from staff.
Many businesses foster a naturally competitive culture through recognizing and valuing the performance of individuals and teams, but it’s also common for those staff who aren’t the top performers to seldom receive recognition for the work they do, and thus aren’t motivated to consistently outperform themselves and their colleagues. This presents a missed opportunity to give your business the boost it needs to leave your competition in the dust. Transparency through Leaderboards can solve this.
How Can Leaderboard’s Help?
The great thing about Leaderboards is that they give everyone a current frame of reference for how they are performing in comparison to those around them, and at every position on the Leaderboard there is a desire to perform better. For those lower down in the rankings, the reward of hitting those top spots is always enticing, and the top performers have to watch their backs and maintain performance to avoid being dethroned; A win-win situation for business performance. But the benefit doesn’t stop there. Openly showing the performance of all staff in similar roles gives an overview of how that segment of the business is performing as a whole. According to a Harvard Business Review employee engagement survey, 70% of staff openly admit to being most engaged when they’re given more transparent information about their workplace performance and strategy, and as you may be aware, engaged employees see up to a 31% boost in productivity than disengaged staff.
Creating Achievable Goals
Leaderboards also provides achievable targets for all staff. Personal targets are an important factor in motivation, and in a standard workplace environment, everyone is aiming to be the top performer, but for most, that target can appear borderline impossible while competing against your superstar rep who constantly outperforms. With Leaderboards, you suddenly introduce smaller, more achievable competition between individuals. You wouldn’t expect a casual jogger to feel particularly motivated to beat Usain Bolt in a footrace would you? But pit them against another early morning runner and all of a sudden you have a fierce, performance driving battle on your hands, and this will happen at every level of your Leaderboards.
Cash incentive schemes are a quick-and-dirty way many companies choose to motivate staff, but the allure of money wears off faster than you might think. However, creating a healthy, social, competitive culture within your business teams? That’s a permanent, effective change that Spinify’s Leaderboards can help you achieve today!