World News - Rewarding and Recognizing Work

Every company needs a strategic reward system for employees that address these four areas: compensation, benefits, recognition, and appreciation. A winning system should recognize and reward two types of employee activity such as performance and behavior. Performance is the easiest to address because of the direct link between the initial goals one set for the employees and the final outcomes that result. The first step in determining who should be rewarded, of course, is to identify the behaviors that are important to the company. Recognition and appreciation are rarely receiving the attention they deserve from management, which is amazing because they are the low-cost/high-return ingredients. One of the best ways to get an organization's attention is to promote someone from the advocate or champion group. Rewards and recognition are best received when they are personal to the individual receiving them.