In order for the Competitive Intelligence system to work, employees need to stay motivated so they can share any information about the competition and the market that they gather.You may have some employees who wish to keep this information for themselves either because they feel they can gain from it financially or for other reasons.
That is why it is so important to keep them motivated. This is also a reason why it is important to understand your employees and the business environment. In order to choose your method to motivate them, you really need to understand them.
Giving them incentives is also important. Again, this will all depend on the employees and work environment. What do they value? What will make them happy and keep them motivated?
Here are some suggestions:
- Write positive letters to place in their employee file
- Give them positive marks on their review, if applicable
- Hold a company function in honor of those who contributed
- Praise them in front of others
- Put a system of rewards in place, such as giving out gift certificates to those who contributed the most
Of course, those are just suggestions. The method that you choose will depend on what is best for your company. Also, you may want to use a few different methods. This works especially if your company is large. This means you will satisfy different personality types. Those who like gifts will be happy with the gift certificates, those who like to be praised in front of others will also be happy, etc.
Competitive Intelligence