Insights on Incentives has as its sole purpose the facilitation of thought and discussion on the subject of incentive compensation for banks and credit unions.  Once a month NSS will be sending out an e-mail with one insight on the area of incentive compensation.  The insights will come from our research, discussion with customers and finally, those of you who decide to offer an insight on this important sales management issue.

No single measurement paints a complete picture of how your company is doing. A balanced set of measurements is important to consider to accurately track the direction of the enterprise. Consider measurements for each of the following perspectives:

• Customer perspective – e.g. Customer satisfaction survey
• Internal business perspective – e.g. Response times to customers
• Innovation and learning perspective – e.g. new products and services
• Financial perspective – e.g. Market share

For more information on the concept of the Balance Scorecard you can order through Amazon.com an article from the Harvard Business Review titled The Balance Scorecard – Measures that Drive Performance by Robert S. Kaplan and David P. Norton. It can be downloaded as a PDF. It is an excellent overview of the concept.

Insights on Incentives is brought to you by NSS Corp.