All too often managers and supervisors have the mistaken idea that money is the best way to motivate employees to work harder and smarter. While the paycheck is important to most employees, it generally fails to generate that added commitment that moves an organization to excellence. This is a particularly important principle to understand when the economy tightens and outlays for salary increases or bonuses are hard to come by.
What do employees identify as the most effective reward?
Personal heartfelt congratulations from the boss—not just the BIG BOSS, but even better, the boss to whom the employee reports. It’s a reward that each employee should receive in some form with real regularity.
Other less formal recognition and reward tools may also have a strong positive impact on motivation and morale. Listed below are a few no-cost or low-cost rewards that can generate positive results:
- A personal note from the boss
- A new title
- Name on electronic bulletin board
- Flowers
- Home helper (to cut the lawn, wash windows, weed, etc)
- Candy
- Movie tickets
- A car wash
- Gift certificate
- A make over
- A one month health club membership
- Cake and ice cream
- A traveling trophy
- A magazine subscription
- An afternoon off
- A tee-shirt
- Lunch with the company president
- A round of golf
- Massage
- Dinner for employee and spouse
- Balloons
- Limo ride
This list could go on forever. Just remember that recognition and reward does not have to be big or expensive. It just has to be there. Even in periods of economic difficulty, there is increasing competition for talent. Keeping our best and brightest employees is critical. Effective recognition and reward will go a long way to accomplishing this objective.
Business Ethics: Constancy in a world of change
Unprecedented change is affecting our business and personal lives. Does this mean personal and professional ethical values are changing too?
The Committee of Sponsoring Organizations (COSO) formed under the direction of the Treadway Commission (a gathering of public and private sector representatives asked to study fraudulent business activity) identified integrity and ethical values as a primary component of organization success.
Business Ethics: Constancy in a World of Change is a half-day seminar that helps participants to understand the role of ethics in business dealings and gain a greater appreciation for strong moral principles that not only minimize corporate liability, but ultimately, maximize company profitability.
For more information about Business Ethics: Constancy in a World of Change and other BAI seminars, workshops and services, call us today at 801.444.9919
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