Reward Vs Recognition: Do You Know When To Use Each Motivator?

Reward vs Recognition: Do you know when to use which motivator?

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Ben Peterson, co-founder and CEO of BambooHR



Most of the time,

reward and recognition go

hand-in-hand. What are

the differences?



Why focus on

employee recognition?



“Employee recognition is

the number one factor when

motivating employees in the

workplace.”



69% of employees would

work harder if they were

better recognized.



of employees find it annoying

when they are not recognized

for the accomplishments they

contribute to the team

and company.



“Organizations that give regular thanks

to their employees far outperform those

that don’t.”

—Josh Bersin



Did you know employees

want some form of

recognition every 7 days?

Yet only 12 percent of

employees say they often

receive appreciation for

great work.



Actions that align with company’s

goals and strategy.

“Too many CEOs and managers focus on

bottom line results without thinking about how

it feels to slog away and work without anyone

saying thanks.” —Josh Bersin



Big and small wins.

“Regular minor boosts from ordinary activities

can have a cumulative and lasting effect.”

—Harvard Business Review



Being a team player.

“[Teamwork] is the fuel that allows common

people to attain uncommon results.”

—Andrew Carnegie, American Industrialist & Philanthropist



So . . . how can you

best use recognition?

• Be simple

• Be sincere

• Be consistent



“You have to use recognition again and again to

build people up. It is one of the many tools and

practices available to each manager to boost

people up and elevate work performance.”

—Barbara Ann Corcoran, Shark Tank



11 Ideas to recognize employees

without spending a penny!

Send a personal note

Say a sincere “thank you”

Recognize in a meeting or applaud

Send a shout-out on a social site

Mention their success in a speech or presentation

Give a long lunch or get-out-of-work free day

Have a higher manager say thanks

Swap a task with them

Give a team lead role or title promotion

Offer flex hours or work-from-home options

Create a “Wall of Fame” or white board

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.



Why focus on

employee rewards?



The workforce is changing.

By 2020, half our workforce

will be millennials.



• 44 percent of employees said tangible (type financial rewards)

highly or very highly increased their engagement.

• 63 percent of employees said intangible rewards highly or very

highly increased their engagement.

Employees want to be rewarded

for their hard work.

— The Hay Group



Not all are about bonuses,

raises, or even cash. 46% of

incentives offered by US

companies are non-cash

incentives. Don’t be afraid

to get creative!



“It’s impossible to win the hearts and minds of

people unless you clearly establish goals and

values and reward people if they act in a way

that leads to the fulfillment of those objectives.”

—F. Robert Salerno, CEO of Avis



So . . . how can you

best reward employees?



Objectively (and transparently)

identify who deserves reward

and for what



Figure out how much value the

work contributed



Decide—as an organization—if you want to

reward only the big wins and successes or the

milestone steps and wins along the way. But

consistency is important.



10 reasonably priced ideas for

rewarding employees:

Stock options

Gift cards

Time off

Late in/early out

Growth opportunities

Fun

Tickets

A massage

A personalized gift

Free food

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.



Selecting what’s best

for your company



Who should be rewarded

and recognized?



Start today! Think

about why, when and

how to best motivate

your people.



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Reward Vs Recognition: Do You Know When To Use Each Motivator?

Leadership & Management

Transcript of Reward Vs Recognition: Do You Know When To Use Each Motivator?