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CEO Tools Blog

Twelve-Business-Seasons (6/14): Reinforce with Recognition & Rewards

In June we turn Twelve Business Seasons to recognition and reward to reinforce and rev-up results related to our goals!  It’s well known that using a recognition/reward approach will create a culture of repetitive positive performance and results.

There are definite guidelines for utilizing recognition and rewards.  One, generally, is to separate recognition from reward.  In other words, recognition should be used as regular reinforcement along the path of a job or project progressing well, with a large recognition upon achievement.  Organizing these larger recognitions is easy:  a small party, a celebration, a peer praise event, even just a broad announcement of success will work well.  Along-the-way recognition is simply a pat on the back, a word of encouragement or praise, or a helpful boost.

Reward is often best used to reinforce recognition:  here, awarding a trophy or plaque, a letter of commendation, again a peer event, are all good rewards when accompanied by something of value, like a bonus check, a specific item matched to the person’s interests or wants or needs, or a monetary look-alike (e.g., a gold or silver coin). Recognition and reward can be combined effectively when a big goal achievement is accomplished.

We welcome feedback on your experiences with recognition and rewards! All the best, Kraig