Rewarding and recognizing employees

What better time than Labor Day to consider if your company is doing all it can to educate and motivate employees?

Rewards and recognition systems -- which can include any number of cash and non-cash motivational tools and programs -- are surprisingly an after-thought in many organizations despite their proven ability to help companies achieve performance and financial goals.  In fact, today's tight economy makes reward and recognition programs even more relevant and valuable.

"When you're not in a position to raise salaries or offer significant bonuses, stepping up your rewards and recognition is a terrific way to encourage the behaviors that delight customers," says Bruce Bolger, managing director of the  Enterprise Engagement Alliance, a coalition that promotes the importance of employee engagement in achieving company financial goals.

Carol Cincotta, CEO of Cinco 3 Consulting, a human resources consultancy serving the greater New York City area, concurs, adding that "there are countless ways to recognize employees and reward desirable behaviors that don't even require cash."

Cincotta points to organizations that offer options for flex-time and condensed work weeks, offer perks such as "jean days" and create rewards programs to recognize outstanding achievement or desirable behavior.  Bolger agrees, noting that cash rewards often get forgotten, while people tend to remember non-cash recognition for accomplishments,  be it gifts, awards or other gestures.

To that point, both Cincotta and Bolger stress the importance of avoiding, "one-size-fits-all" programs, and instead recommend tailoring rewards and recognition efforts to reflect the tastes of individual employees.

"If you know that Bill in your office is an avid fisherman, consider a gift that plays to that," says Bolger.  "Or, if you know that he and his family are big steak eaters, get him a package of high-quality steaks.  Simple luxuries, particularly in tough economic times, are hugely appreciated."

Similarly, Cincotta believes that companies should structure their programs to reflect employees' different personalities. "Extroverts might thrive on public recognition, while you might make the introverts on your staff a lot happier if you don't call attention to them in front of the entire office.   For these employees, a breakfast with the CEO or another senior manager might be far better received."

Bolger concludes that companies hoping to differentiate themselves need to recognize that people are a greater competitive edge than ever before -- and that rewards and recognition are among the most powerful ways  to harness their potential. Cincotta, meanwhile, observes that, "New York is such a melting pot ethnically, economically and in terms of people's backgrounds that rewards and recognition programs create an excellent, cost-effective opportunity to thank employees for their performance in very specific ways."

One other point merits discussion here: it's crucial that the programs you put into place be aligned with your organization's highest-priority objectives,behaviors and performance results.  As is the case with any form of communication or outreach designed to educate and motivate employees, they must be aligned with the company's business goals in order to have long-term impact.