The traditional response to ‘we need more recognition’ is to think of ways to give people stuff – cash in the bank, Amazon vouchers….
Finance ROI is the way finance professionals analyse the world.
While as counter-intuitive as it may sound, when it comes to employee rewards, it is the ‘thanks’ that matters, not just the stuff.
Receiving a perk can never change your relationship with your boss or impact your connection to your co-workers.
Come Monday morning and it’s the same ‘song and dance’ of frustration. Cash in the bank, Amazon vouchers etc will be forgotten
Perks don’t change lives and people want better quality relationships at work.
The book ‘Everybody Matters’ (2015) by Bob Chapman and Raj Sisodia, chronicles the author’s search for the best leadership style and the quest for the best approach to business.
There is a story of an employee who was rewarded with a peer-nominated award. His comment about the award was, “It’s nice to know after 32 years that I made a difference”. This is not a success story, it’s a failure story!
The authors cite instances of companies which give awards through a system where employees nominate their peers for the awards. All nominees – irrespective of whether they get the award or not – get a letter of acknowledgement and praise. In fact, the letters are more appreciated by the employees than the awards themselves, as colleagues put a lot into just writing nomination letters. Such a system instils motivation and inspiration to improve, much more than what monetary incentives do.
What is your view on the same?
If you were to choose only one, you will support Financial Rewards or Non-Financial Rewards
Thanks & Regards!!
CAJOBPORTAL