A writer is a writer. A graphic designer is a graphic designer. And a social media manager is a social media manager.
This type of thinking is prevalent among managers, executives, and decision makers. So, they tend to view their human capital as replaceable. But is it?
More than ever, there’s a need to ensure your creative team is rewarded fairly.
Why You Should Reward Your Creative Team More Fairly
There are three key factors to consider:
- Replacing employees is costly. Onboarding and training costs are substantial. A new hire must become familiar with all your processes and structures, and this can take weeks if not months unless you have a state-of-the-art training system (most companies have minimal structures if any at all).
- Results are never created equal. Ranking at the top of search is not the same as appearing on the second page of results. An ad campaign that has a 5% response rate is significantly more valuable than one that produces 4%. Treating everyone as equal is an injustice, because even with something as “mercurial” as creativity, it’s a virtual guarantee that 20% of your employees are producing 80% of the results.
- You’re competing with broader opportunities. Writers can share their work on Medium. Graphic designers can find work on Dribbble. A video editor could become the next YouTube superstar. If you don’t reward your creative team fairly, you will lose team members to the creator economy and other shiny objects.
Steps You Can Take to Reward Your Creative Team
Traditional salary structures are limiting and outdated. They are created based on the value the individual is supposed to generate for the organization annually.
This means an ambitious team member could arrive early, stay late, work overtime, and hustle all year, only to earn the same preset amount they were promised at the beginning. Sure, they might get a promotion, but then they’re suddenly burdened with new responsibilities that may not be complementary to their workflow or results produced.
So, here are some steps to consider.
Engage in Employee Engagement
No matter the team, creative or otherwise, employee engagement activities can boost morale and build bonds. A fun night out to recognize their hard work could be a strong motivator for your team members.
Create Outcome Based Incentive Programs
You know that targeting a certain keyword is going to get you onto the second page of search results. But what if your creative team goes above and beyond and manages to rank #1 in Google?
An outcome-based incentive program can motivate your team to generate better results.
Develop Performance Based Bonuses
Inevitably, there will be entrepreneurial types on your team. They are generally demotivated by being told what to do, constant micromanaging, having to do everything by the books, and so on.
But these types will put up with a lot if they receive performance-based bonuses. Of course, to keep it fair, you would only give these bonuses for hitting certain targets.
It’s harder than ever to keep good talent. If you don’t know what your best team members are motivated by, now would be a good time to gain a clearer understanding. This helps you reward your creative team with incentives and bonuses they’ll value.