Tim Holden examines the effect of reward on performance, the benefits and downsides of rewarding employees, and how - especially in this current climate - reward can be used to motivate staff.
With an increased emphasis on no-cost benefits such as praise, recognition and flexible working, a growing number of employers are seeking to compensate valued employees in creative and cost-effective ways.
Most organisations we deal with recognise that one size does not fit all and that individuals are motivated in different ways. Some want to work from home, some want learning opportunities, some want rapid career advancement and some want to link their work to their personal objectives such as sustainability. An effective way of finding out what people would value is through performance appraisals, an annual task that is often viewed as a time-consuming chore but which can be the opposite.
