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Robert Eide - Aegis Capital Corp - Ways of Creating Healthy Competition in the Workplace

At Aegis Capital Corp., Robert Eide is well known for creating a healthy work environment. Workplace competition is common and often it is a good and healthy element.

At Aegis Capital Corp., Robert Eide is well known for creating a healthy work environment. Workplace competition is common and often it is a good and healthy element. It makes the staff more energized, more engaged and more productive. But there are also adverse effects of this competition. It can lead to long resentment, stress and lowered confidence levels. Some people are by nature competitive and survive in competitions while there are others who are afraid of contests.

What should you do? As a business owner, you should foster healthy competition at your workplace and avoid any kind of harmful effect. How do you do that? Here are a few tips for you…

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Make the Competition Enjoyable

There is eventually competition at work. Every member desires to perform well, get recognized and seek a promotion. Do not make workplace competition a serious affair. Add a fun element and keep it light.

Promote Healthy Competition

Competition is bound to create conflict amongst employees. As a business owner, you should teach team members how to go for a healthy debate and share opinions openly. Such healthy competition promotes improvement and innovation.

Monitor the Effects of Competition

You should observe the track your workplace competition takes, not only in business but also your employees. Are your employees becoming uncooperative or are they snapping one another? If the competition starts to go off track, you should call for discussion and sort out the problem and if required, you can call off the competition.

Encourage Competitions in Teams

Competition amongst individuals is likely to go wrong. It can lead to a situation where everyone wants to be in the first position. On the contrary, team competition is much healthier and entails collaboration, which is necessary in modern workplaces. Try to have balance in teams by selecting members with diverse strength levels. This creates effective teams on one hand, and on the other, gives members a chance to learn from one another during competition.

Encourage Competition with Oneself

A competition which focuses on evaluating personal ability instead of out rating others is motivating. Encourage business professionals to make their business performance better. For instance, one should try to raise his sales numbers in a month. One team can compete with another team.

Provide a Reward

You should have rewards for the competition. Now, rewards for competition in workplaces depend on the kind of competition, nature of business and the people involved in it. For example, in some workplaces, the winning team may be satisfied with a trophy and recognition in the meeting, while, in other workplaces, teams might want to get an early leave on Fridays. Again, others might demand a bigger reward like vacation packages or bonus for achieving big sales.

Be Focused on the Goal

It is good when employees are excited about competitions but, they should become so much excited that they forget their ultimate goal. For instance, if the competition measures the number of calls a customer service department takes in one day, then they should focus on speed. It does not mean that they should rush through the calls and reduce the quality of service of the business.

Thus, these are certain things that a business professional should know to ensure healthy competition amongst employees in his workplace. It will help to flourish his business. 

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