A Carrot a Day: A Daily Dose of Recognition for Your Employees

To what extent are you willing to go?

A WINNING STRATEGY

Firms claiming to align rewards with a business strategy “to a great extent” appear to post stronger total shareholder returns (13.6 percent) than do companies that link the two to “a little extent” (9 percent) according to a Watson-Wyatt Reward Plan Survey.

So how do you create strategic rewards? Follow this simple formula:

1. Clearly communicate what you require them to do.

2. Link the reward to a business strategy.

3. Give them the skills to do the task more effectively.

4. Thank them for responding to your communication and training.

5. Start over again.

Strategic recognition is a never-ending job. Fortunately, the rewards are equally enduring.