- Reward: An item given to an individual or team for meeting a pre-determined goal.
- Recognition: After-the-fact display of appreciation for individual or team efforts. Can be tangible or intangible, and range from a thank-you email to travel.
Factors contributing to successful R&R
- Promote or encourage specific actions
- By a specific audience
- To produce measurable outcomes
- Through integrated motivational strategies
- During a defined time period.
(Assumption)[https://www.bhengagement.com/employee-rewards-recognition/ is that employee engagement
An individual sense of purpose and focused energy, evident to others in their display of personal initiative, effort and persistence directed toward organizational goals
leads to higher work performance and company loyalty.
Incentive versus cost
People weigh an incentive’s value against how hard it is to earn. Ask too much, and people will dismiss your incentive. Choose employee rewards that inherently have higher value, and you can inspire higher performance. Keep in mind that indulgences, especially those that don’t have to be justified, are more valuable. So are things that attract peer attention and stand out from regular pay.
- Peer recognition
- Spot awards
- Points programs
- one-time rewards