1. Financial incentives generally lead the list of motivating tools for trying to gain wholehearted employee commitment to good strategy execution and operating excellence.
2. In addition, companies use a host of other motivational approaches to spur stronger employee commitment to the strategy execution process. Some of the most important include:
a. Providing attractive perks and fringe benefits
b. Relying on promotion from within whenever possible
c. Making sure that the ideas and suggestions of employees are valued and respected
d. Creating a work atmosphere where there is genuine sincerity, caring, and mutual respect among workers and between management and employees
e. Stating the strategic vision in inspirational terms that make employees feel they are a part of doing something worthwhile in a larger social sense
f. Sharing information with employees about financial performance, strategy, operational measures, market conditions, and competitors’ actions
g. Having knockout facilities
h. Being flexible in how the company approaches people management – motivation, compensation, recognition, recruitment – in multinational, multicultural environments
CORE CONCEPT: One of management’s biggest strategy-executing challenges is to employ motivational techniques that build a wholehearted commitment to operating excellence and winning attitudes among employees.