Effective use of reward and recognition is a proven, practical and cost effective means of motivating people and improving business performance. A programme that is well thought through, structured, communicated and measured appropriately can give a business a competitive edge when it comes to attracting high performers into the organisation and retaining the loyalty of valued existing employees.
Reward and recognition can both be used as individual elements which should deliver some form of improvement in performance, however, the power of using both together in harmony can be quite dramatic.
As the UK’s leading reward and recognition business, we have identified eight elements which are fundamental to the successful implementation of a structured reward and recognition programme:
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