Competition is a massive motivator for highly successful businesses no matter the size.
So harnessing this power depends upon positive reward systems and a culture of teamwork to ensure it stays friendly.
Sales teams across the world have used competitions as a way to meet and exceed their sales goals. Most sales teams are compensated based on commission so they are already incentivised to perform.
However, increasing competition becomes a bit more difficult when looking at non-sales employees.
The first step of any competition is to decide what the basis of measurement is. This will be unique to the type of business and industry you are in.
A simple example would be something like the number of customers who rate an employee positively in a month (for example in a customer service job). The basic components are quantity of work at a given quality in a specified time.
Once you have decided what would work for your teams/staff, ensure that it is in sync with your overall business strategy and mission.
Next, decide what the reward should be for the winner. The easiest way to do this will be to talk to your team! You probably already have a pretty good idea what prizes would really fire them up, but it can’t hurt to ask. If they are at a loss there is a wealth of ideas to be found online.
Also, never forget everyone loves public praise and appreciation. Recognise the successes of your team!
You are almost ready to kick this competition off but there is one final consideration to ensure this doesn’t become cutthroat.
Company culture is vitally important here. All members of your team must be devoted to the overall success of the company and believe in the company’s mission. At the end of any competition you don’t want those who did not win to feel slighted.
They should recognise that the winner helped the company as a whole get that much closer to their collective goals and all members should see that as a positive.
Building healthy competition in your business may take a bit of work and planning, but as many of the best business leaders throughout history have discovered, this can unlock productivity and innovation on a massive scale.