REWARD
Why gratitude is crucial to your reward strategy
A rewards strategy is fundamental to motivating and inspiring employees. From monetary rewards and gift vouchers through to symbolic awards, they help employees feel valued and ‘seen’. However, a rewards strategy without an effective employee recognition programme is simply incomplete. Recognition is a fundamental ingredient of any reward strategy, providing employees with purpose and that all-important feeling of success and connection. Here’s why recognition and reward must always be closely intertwined. Recognition underpins reward Providing rewards for accomplishments is nothing new, with organisations commonly providing bonuses, points towards gifts of the employees’ choosing and even holidays. Although rewards are powerful tools for showing employees their contributions are valued, if a cookie cutter approach to presenting the reward is taken, this will neither inspire great work nor encourage loyalty. Providing rewards without effective, personalised recognition will simply minimise the impact of the moment and its shelf-life, with employees only feeling the ‘golden glow’ of receiving a reward for a short time afterwards. The reward has been given, the moment Robert Ordever, European Managing Director, O.C. Tanner, explains why small gestures of appreciation can sometimes be just as, if not more, effective than the large, expensive gifts given to employees
| Professional in Payroll, Pensions and Reward | April 2025 | Issue 109 30
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