How To Frame Incentives To Drive The Desired Behavior | James Castello
If you want to incentivize an outcome, don’t just focus on the final reward, hone in on the behavior that will drive the result. Whether we’re motivating our employees, our kids or ourselves, we can all benefit from learning how to effectively drive behavior.Incentives drive behavior. So if you don't get the behaviors right, that's where incentives go off the rail. ~ James Castello, Episode 344 Click To Tweet
Our guest on this episode is James Castello, Vice President of Field Operations and Incentive Compensation Practices at TGaS Advisors. TGaS Advisors is one of the leading consultancies focused on the pharmaceutical industry. They provide insights and real world knowledge to hundreds of the leading life science companies around the world.
While this episode is focused on how incentives can be created effectively to reach sales targets, the takeaways from the discussion with Jim can be applied to many aspects of our lives. Be sure to join Kurt and Tim in the Grooving Session in the last portion of the episode, as they summarize the most applicable aspects of the interview.If you want to reward collaboration, build a shared objective, that can't be achieved without collaborating. ~ James Castello, Episode 344 Click To Tweet
(6:25) Welcome and speed round question.
(8:32) Collaboration is just a means to an end.
(10:49) Incentives drive behavior.
(13:44) The influence of the pandemic on incentives.
(17:25) How do you align incentives with behaviors?
(20:05) The importance of language in incentives.
(25:14) What exactly is goal setting?
(33:04) Breaking goals into manageable chunks to remove objections.
(38:54) Do contests work well for driving sales?
(47:00) What music would Jim take to a desert island?
(51:02) Grooving Session with Kurt and Tim discussing incentives.
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