For an incredibly competitive event, the Olympics always seems to produce stories that showcase class and goodwill triumphing over the desire to win. This Winter Olympics, as people all around the world rejoice in the victories of their countrymen and women and agonize over those who fell short, there have been a variety of events which have brought competitors together. These occurrences offer lessons about individual and team performance in the face of adversity and against the best in the world at their given discipline. Incentive compensation management is an instrumental force in the workplace because it rewards individual behavior, without commendations coming at the expense of the team. While the medal winners of Olympic events are shrouded in glory, many voice their desire to promote their sport and congratulate their fellow participants on their own performance. Others lend a hand in the spirit of competitive fairness, recognizing that anyone who has come this far deserves optimal conditions to succeed. Incentive compensation plans that reward both a strong individual and team effort can help drive productivity on both fronts. Incentive compensation management: Awarding two gold medals with grace For the first time ever, there was a tie for the gold medal in an alpine skiing event. Swiss skier Dominique Gisin’s 1:47.57 time was equaled by Slovenia’s Tina Maze, marking a tie in an event that rarely sees ties. The already iconic photo of the two competitors shows them lifting their hands together in triumph on the gold medal platform, proof that a gold medal loses none of its luster if it’s shared. This is a good lesson for any organization implementing a incentive compensation management program. Even though company employees may be theoretically competing against one another for the top spot and thus the highest level of compensation, equal high performance demonstrates how each team member has pushed others to become more productive. A gracious pair of top performers also draws positive attention to their mutual efforts, which can generate a lot of goodwill. Incentive compensation management: Elevating the event by lending a hand Another story making the rounds was the effort of Canadian ski coach Justin Wadsworth, who ran onto the cross-country ski course to replace the badly damaged ski of Russian competitor Anton Gafarov. Although he finished behind the pack, Gafarov finished the race and was greeted to a standing ovation for his perseverance. “I wanted him to have dignity as he crossed the finish line,” said Wadsworth, a three-time Olympic competitor himself. Wadsworth’s effort to help out a struggling competitor is a good example of how commitment to the success of all helps improve overall quality and productivity. Incentive compensation management can be structured with this philosophy in mind and encourage personnel to lend a hand to stragglers.
