As McKinsey’s Seth Goldstrom notes, “managing incentives in the context of a transformation requires a shift in thinking.” To be successful in today’s volatile business landscape—and minimize employee attrition—companies must fine-tune their mix of financial and nonfinancial incentives.
In this interview, Seth outlines ways to develop a mix that turns into an “impact essential”: those business activities that drive sustainable execution and change.
“By recognizing and incentivizing the essential work that is really happening on the front line, companies will move closer to their transformation goals.
How do you manage incentives amid a business transformation—and more importantly, how do you measure whether or not you met your plan?
Find out in the video here.