At work over these years, I have tried to think beyond financial and productivity metrics when considering compensation changes and employee recognition. While these metrics have been important in maintaining a successful operation, I am very aware of the fact that high-quality, strongly motivated people make or break corporate success. I believe an amicable balance can be achieved through subtle rewards – monetary, such as pay rises, bonuses and one-time cash awards, or otherwise.
Non-monetary rewards can have as much impact if not more if implemented sincerely. Organization leaders have the option of rewarding people through congratulatory notes, mentions at public forums and letting employees sincerely know that their presence and contributions make a difference. I have had no regrets whatsoever in implementing these methods. I will go further and say that their impact in creating and maintaining a first-class work force has also been very fulfilling for me.
Daniel Pink has presented some interesting studies concerning alternative incentives for productivity. What about you? What motivates you to take your work to the next level? Will you share with me a story of your own alternative incentive programs for your employees?
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