The other day, I was talking with an office manager who wanted to know if employee recognition rewards or incentives always had to be monetary? This is a great question. Let’s face it people like money and this is usually the first thing that we think of when we are told there will be incentives or recognition rewards for reaching goals of production at work.
Actually, a Gallup 2016 report shows the following on this topic:
When asked what types of recognition were the most memorable, respondents emphasized six methods in particular — and money isn’t the only (or the top) form of recognition:
- public recognition or acknowledgment via an award, certificate or commendation
- private recognition from a boss, peer or customer
- receiving or obtaining a high level of achievement through evaluations or reviews
- promotion or increase in scope of work or responsibility to show trust
- monetary award such as a trip, prize or pay increase
- personal satisfaction or pride in work
In the medical practice that I manage we found that although employees appreciated monetary rewards or incentives they really preferred being given some flex hours or extra paid time off.
I was pretty surprised at this but it makes sense, most people now days want time away from work and if it’s paid it is an extra bonus for them.
Next time you are thinking of a recognition reward or incentive is warranted you might want to find out what your employees would really like, it may surprise you.