Gamification: A Useful Tool for Finance Leaders to Drive Growth

I recently read an interesting article by Forbes describing how CEOs are using gamification to drive results.  Simply put, gamification is the use of game design techniques and mechanics to solve problems, create incentives to drive behavior, and engage audiences. Common gamification mechanics include activity points, leaderboards, rewards, goals for individuals and groups, and virtual goods.

The author of the Forbes article Dan Woods, put it well, "Gamification is about achieving goals using an engaging set of metrics-based interactions". Gamificafion seems to be a perfect fit in the evolving world of corporate performance management as it fits in within the arena of management by objective goals. Gamification can allow employers to access the value of employee contributions to initiatives or overall company success, offer visibility into the relative performance of employees to co-workers,  and insights in diagnosing issues in process design.  Just as game theory transformed the world of negotiating contracts, gamification has the potential to redefine the paradigm of corporte performance/business process management.

Is your company using gamification to drive results? What are your thoughts on gamification?