06 March 2010

rewards and recognition A to Z (T=Transparency...)

Transparency: A reward program will fail if it is not trusted: if known poor performers are rewarded; if promised rewards don't materialise; or if "favourite" staff seem to emerge again (and again). Establish a governance body. Better still, have the staff form their own advisory body. Communicate the rules early and often and don't compromise. Systems of peer rewards work exceptionally well: peer nominated and peer selected rather than management initiated. Think twice before ever trimming a reward program budget: revisit the outcomes of the reward strategy first. The value, trust and staff commitment to a program will be diminished if it's thought of as a trendy add-on.

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