Module 4.1C: Rewards & Recognition Flashcards
What are cash rewards?
Monetary awards or bonuses
cash rewards or gifts over a certain amount might be taxable, thus reducing the actual benefit to the employee.
What are non-cash rewards?
Non-monetary awards or incentives like parking spaces, vacation days or recognition plaques.
Provide the opportunity to be creative and personalize rewards
For example, an organization whose employees are avid hikers might award a high-end, company-branded day pack to a top performer. Or an organization in a cold climate might offer a paid trip to a wintertime conference in Miami.
Non-cash rewards can also have a “dream” aspect to them. While extra cash can pay off bills, an extra paid vacation day opens many possibilities.
Tickets
Sporting events, the theater, concerts — consider VIP options like courtside seats, box seats, or backstage passes
Dinner
Team dinner (catered or off-site), company banquet, restaurant gift card
Gear
Smart watch, tablet, wireless earbuds, branded outerwear, branded luggage
Day off
Additional paid vacation day
Travel
Conference in destination city, airline voucher, park passes
VIP treatment
Designated parking spot, priority seating at company functions, wall of fame
What is a reward?
What’s given through the incentive program or through a recognition program
What is an incentive?
An objective tied to goals over a set time period and given when goals are achieved
Incentives motivate employees to achieve desired outcomes.
While commonly associated with sales positions, employers can offer incentives in any department.
What is a predictive
Employees may time their output to maximize rewards if they know an incentive period is coming
What are unclear goals?
Incentives might encourage certain behaviors, but perhaps not intended ones
What is an inappropriate timeframe?
If its too short, employees cannot take full advance. If it’s too long it becomes routine (and possibly expensive)
What are complicated rules?
If employees don’t understand the program, they might not participate
What are vague rewards?
If the reward isn’t clear, it won’t motivate workers to increase effort
What is peer to peer?
Co-workers nominate one another for awards, and “report” standout work.
Cate sets up message board on her organization’s hub where employees can high-five others. It takes few weeks to take off, but soon people in every department are regularly calling out good work.
What is manager?
Supervisors highlight positive behavior
At weekly team meeting, Brennan recounts how Kahlid handled a crisis the day before. He describes how Kahlid’s quick and calm response reassured the client and led to a positive solution
What is industry?
Workers may apply or submit to industry publications on their own behalf, or their organization might do it for them
Anne’s graphic design work is featured in national trade magazine after her supervisor emailed copy of recent brochure to editor
Which of the following are examples of non-cash rewards? Choose all that apply.
- Company branded jacket
- Designated parking spot
- Theater tickets
