Net Result, Net Reward: These two succinct yet powerful phrases define the last imperative of Robert’s Rules of Innovation. The principle is essential; dynamic innovation will yield a profitable return on investment (ROI) measured as a favorable direct correlation of innovative ideas and net profits earned.
In Robert’s Rules of Innovation, the core of “Net Result, Net Reward” is about inspiring your people with meaningful incentives. Motivation does not necessarily mean rewarding with money; praise and recognition for a job well done is paramount to overall job satisfaction for many employees. Offer incentives to promote innovative ideas.
Goodyear Tire and Rubber Company has been studying incentives as motivation for almost twenty years. In one of its most critical yet simple tests, one retail district was divided into two groups of equal historical performance. Group 1 was offered a cash incentive for the sales of a new tire line while Group 2 was offered a tangible reward of equal cash value for the sales of the same new tire line. Group 2 reported 46% more sales than Group 1 gave management the information needed to determine what rewards to offer organization members. The positive reinforcement of rewards can benefit an organization for everyone involved and equates to Innovation ROI.
Read more about incentives, net results, and net rewards at : http://www.robertsrulesofinnovation.com/blogs/net-results-plus-net-rewards-equal-net-profits.html
