Showing posts with label cash rewards. Show all posts
Showing posts with label cash rewards. Show all posts

Wednesday, October 7, 2009

Recognition's Kiss of Death

Over 90% of all North American companies have recognition programs. Yet 60% of all employees do not feel recognized.

These stats speak volumes and are a powerful indictment against how we have traditionally approached recognition in the workplace.

I believe most companies are way too concerned with “what” rewards they give as opposed to “why” they give them in the first place.

Don’t get me wrong. Rewards are very important. However, they must be strategically thought out. They must complement the recognition that is being given. Many times, companies will offer rewards that are inappropriate to a recognition program’s objectives.

What drives companies to include inappropriate rewards in their programs? Often, it’s simply a case of employees pressuring senior management. Program administrators should push back on “shot gun reward” requests by explaining the strategy behind their recognition strategy. Make sure that your senior management understand that their job is to explain “why” these rewards are being given in the first place.

Don’t let inappropriate rewards become your recognition program’s kiss of death!

Monday, October 5, 2009

HRO Today – Building Moral Trumps Monetary Rewards

Every year, HRO Today magazine devotes an issue to recognition and rewards.

One of the main stories in this year’s issue is how recognition forms a crucial part in creating and improving moral.

It also explains how recognition can trump monetary rewards. Remember, for recognition to be received the way it was intended, you must make sure to connect with the recipient on an individual and emotional level: cash rewards seldom convey the personal aspect paramount to effective recognition.

Though you must register to read this story, it is free and well worth it! Register and check out the story on rewards here.