Employee Recognition: Reward, Bonus, Incentive

How to motivate employees

1 Comments
Join the Conversation
Rewards, Motivation - Fredo  Alvarez
Rewards, Motivation - Fredo Alvarez
Money Motivates is often used to describe an employee incentive program. It is also very important to remember that money alone is not enough to bring out the very best.

Personal recognition, teamwork, competitive spirit, company pride and pay plans all play vital roles in the motivation of company employees. Two types of employee motivation are necessary and needed to compliment each other in a well rounded program: Individual motivation and team motivation.

Employee Money Programs: Cash, Gift Cards, Bonus Pay

Pay-for-performance programs, bonuses and sliding pay scales are all good individual motivators. Most companies miss the boat with these programs because they do not tie them to specific tasks or goals set with an employee and their supervisor or manager. When money goes out the door in an incentive program both the employee and the supervisor should understand exactly what was accomplished above and beyond the norm to achieve the bonus or additional pay.

Many companies feel Christmas bonuses or profit sharing programs are great employee retention programs. The could well be, but only until the bonus money has been spent. These bonuses which are not tied to performance do not serve well as motivators even though they may work to endear employees to the company in a measurable level.

Team Employee Recognition Rewards for Job Effort and Benefits Cohesive Work Environments

Not everyone is motivated by competition individually. However when an individual is brought into the context of a team as a department or regional office the powers of peer support and synergy take over. Just as a professional football team plays with rules and regulations, so should a corporate team. Good sportsmanship and leaving open the opportunity to shake hands after the competition is over are essentials to consider when establishing team competition rules.

The desire to become the winning team is often enough of a motivation to keep the enthusiasm high in the group. The winning prize does not need to be a cruise in the Bahamas with all expenses paid to be a successful event. An inexpensive trophy, preferred parking places for a month or big banner in their work area is often enough to enjoy the bragging rights of a competitive win.

Individual Employee Motivation Using Personal Goals and Incentives Based on Desires

Done correctly, individual rewards can be very successful and create a lasting bond between an employee and their supervisor. Individual goals must be set with the employee and the supervisor needs to take time to get to know an employee very well for the greatest success.

A $500 reward for being the top salesman for the region may not seem like much of a reward. Yet, when the salesperson has had their eye on a new suit that costs $500 and the supervisor makes a deal to drive them down to the store to get it and have it tailored when they become the top producer it can make a world of difference. Learning an employee's inner core values and motivators are essential to making an individual motivation program work well.

W Denis Nurmela - - Built multi-million $ companies from scratch - Church & Non-Profit Leader - Educated & Avid Reader - Coach, Consultant, ...

rss
Advertisement
Leave a comment

NOTE: Because you are not a Suite101 member, your comment will be moderated before it is viewable.
Submit
What is 8+1?

Comments

Apr 6, 2010 7:12 AM
Guest :
It's also been said that some of the best employee motivation and recognition programs are ones that use noncash rewards as incentive devices. One issue with using cash bonuses as incentive measures is that it can often be confused with normal compensation and that it lacks an inherent trophy value for retaining that memory of recognition. Your thoughts?
1
Advertisement
Advertisement