Business Lessons From Taekwondo

My son started taking Taekwondo in March and he loves it; he can’t get enough of it. In fact, every kid there loves it. Which got me to wondering, “what is it about Taekwondo that draws kids in and keeps them in for life?” I’m convince it’s because of the respect and recognition they receive. It’s not just recognition from their parents who are going to praise them regardless, it’s also the recognition from their instructors and their peers. Every step of the way, to each belt, they are applauded (literally).

Imagine what would happen if we did the same with our team members. Loyalty to the company would escalate immeasurably. Employee recognition should be a part of your company’s culture as it is with the ATA. When a team member comes to work they should look forward to it, knowing that when they do a good job, they will be properly recognized.

Do you have a systematic process for acknowledging your team members? If you don’t, I encourage you to get one as soon as possible. Here are a few suggestions to get you started in creating your recognition program:

1. All rewards should be visible to all members of the company.
2. All rewards should be based on well-defined, credible standards that have been developed using observable achievements.
3. The rewards should be meaningful and valuable to the recipient.
4. Determine whether rewards will be based on an event (achieving a designated goal) or based on a time frame (performing well over a specific time period).
5. Rewards that are given spontaneously or on-the-spot awards are also motivating. But remember these should also use a set criteria and standard to maintain credibility and meaning.
6. Rewards should be achievable for all employees.
7. Nonmonetary rewards, if used, should be valued by the individual. The non-monetary rewards are best received when they are thoughtfully prepared and are of the highest quality. Professionalism in presenting the reward is also interpreted as worthwhile recognition.
8. Rewards should be appropriate to the level of accomplishment received. Don’t give a team member a $10 gas card as reward for bringing in a million dollar client. This doesn’t add up and your staff member knows it.

If you applaud your team for their best efforts and for meeting and exceeding performance expectations, you will have no problem keeping quality people–possibly for life.