Reward and Recognition Programs - Beyond the Cash Bonus
Reward and recognition programs can be a very important element of the total compensation program in any company.
Whereas wages are what people earn for doing the job they were hired to do, recognition celebrates an effort beyond the call of duty and reward acknowledges reaching a goal.
The goal of any program is to make people who work for your company feel important.
In theory, if the company honors and serves the employee, the employee will honor and serve the company.
There are several guidelines for effectively rewarding and recognizing employees.
One is to match the reward to the person.
Start with the individual's personal preferences.
Find out what makes each of your employees tick.
Rewards may be personal or official, informal or formal, public or private, and may take the shape of gifts or activities.
How about a night out at the ball game, a fishing trip or a handsomely engraved plaque.
Be sure to be specific about the reason for the recognition or reward.
And make sure that it is given timely.
To be effective, programs should reflect the company's values and business strategy.
If your company is more concerned about quality craftsmanship than quick performance, an incentive tied to beating job hours probably won't be as effective as one tied to exceptional craftsmanship.
If possible, employees should participate in the development and execution of the program.
In that way, they will buy into the program.
Avoid using blanket approaches to motivation.
Giving the same reward to every member of the organization does not inspire employees to excel and may actually damage performance.
Top achievers may see no acknowledgement of the exceptional job they have done and no reason to continue excelling.
A thoughtful and personal reward or recognition program that shows true appreciation for a job well done can motivate your employees to perform at even higher levels.
Whereas wages are what people earn for doing the job they were hired to do, recognition celebrates an effort beyond the call of duty and reward acknowledges reaching a goal.
The goal of any program is to make people who work for your company feel important.
In theory, if the company honors and serves the employee, the employee will honor and serve the company.
There are several guidelines for effectively rewarding and recognizing employees.
One is to match the reward to the person.
Start with the individual's personal preferences.
Find out what makes each of your employees tick.
Rewards may be personal or official, informal or formal, public or private, and may take the shape of gifts or activities.
How about a night out at the ball game, a fishing trip or a handsomely engraved plaque.
Be sure to be specific about the reason for the recognition or reward.
And make sure that it is given timely.
To be effective, programs should reflect the company's values and business strategy.
If your company is more concerned about quality craftsmanship than quick performance, an incentive tied to beating job hours probably won't be as effective as one tied to exceptional craftsmanship.
If possible, employees should participate in the development and execution of the program.
In that way, they will buy into the program.
Avoid using blanket approaches to motivation.
Giving the same reward to every member of the organization does not inspire employees to excel and may actually damage performance.
Top achievers may see no acknowledgement of the exceptional job they have done and no reason to continue excelling.
A thoughtful and personal reward or recognition program that shows true appreciation for a job well done can motivate your employees to perform at even higher levels.
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