Wednesday, February 18, 2009

Non-Monetary Benefits

Much of the recent literature around performance and talent management has focused on the importance of non-monetary benefits such as recognition and internal mobility. Non-monetary benefits reward performance, just like monetary benefits, but are good for the bottom line because they're often free.

Public recognition, promotions and even Starbuck's discount cards are all very well, blah, blah, blah, but I want to share with you an example of a real non-monetary benefit, the kind that costs nothing and ensures undying loyalty: the autographed picture.

It just so happens that my manager is related to one of my favorite actors and under her thoughtful direction he sent me an autographed picture of himself with some other girl. This is what he wrote:

'Just in case we don't get a chance to [censored], this picture will have to hold us until we find a window. I love you. You know that.'

THIS is what I'm talking about, people.

So, what does this mean for companies that want to put a stake in the ground around non-monetary benefits? No problem! Just include 'related to someone famous' on your manager job qualifications list and watch the non-monetary benefits start rolling in.

Think about all the money that can be saved on manager selection, training and accountability practices with this one simple strategy. Even if your managers totally suck, your top performers will cut them plenty of slack if they're Brad Pitt's younger brother or Penelope Cruz's mom.

In fact, this idea may revolutionize Talent Management as we know it. . .

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