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Successful Goal Setting and the Behavioural Economics Behind it

Written by: Dave Smith
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At BI WORLDWIDE Canada, we use the principles of behavioural economics to create the best engagement strategies on the planet. We work with expert academics who advise us on the latest research on human behaviour, engagement and decision-making. We use non-cash rewards and recognition to engage and motivate employees and sales teams.

Successful goal setters are different from the rest – they achieve more than those who don't set goals properly. In our experience, designing incentive programs and setting goals using the principles of behavioural economics will increase the rate of achievement and improve overall performance.

Encourage your sales force to follow these seven goal-setting best practices to boost their achievement rates:

1. Make it your own goal.

By personalizing your goal, you put a higher value on it and are more likely to achieve it. In behavioural economics, the IKEA effect sums it up: what you create, you love. Make sure that your goal is truly yours.

2. Stretch yourself with and achievable goal.

Stretch goals challenge you to go beyond your comfort zone and you will find it to be especially rewarding when you accomplish something you weren’t certain you could originally do. It’s easier than you think – over half of our GoalQuest® incentive program participants exceed their baseline performance by achieving a stretch goal.

 3. Give yourself a deadline.

Successful goal setters are different from the rest – they achieve more than those who don’t set goals properly. Download Now

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