A Surprising Way To Improve Your Reward Program

 

There is an easy way to improve your reward program and you would be hard pressed to guess it. It doesn't take any more money or larger rewards.

If your reward system uses gifts of some kind, for example, logo cups, umbrellas, or any other kind of merchandise, all you have to do is split the items into two groups and allow selection from each group. Use any groupings you want, they don't even have to make much sense! The study showed that what is important is to build the desire to avoid missing out on the opportunity.

So consider how you can use this information:

• Set up a reward system where there are two categories. If you already have some kind of points-based gifts for recognition in progress, for example, you add another category for time away. Time away is very desirable. Refer to previous posts in The Eye.
• Your time away category can have multiple options. For example, half-day off Mon, half-day off Tue, and so on.
• There are other options for your two categories. Get free coupons from local restaurants to give out. Logo merchandise from your organization, hoarded by the Marketing people. A desk item, frivolous or useful.

But there's more! Looking at another report on rewards helps you refine your plans.

Make sure you connect rewards and recognition to organizational values.

• Your core values have already been designed to meet your mission and vision. They help everyone work together toward this goal - even in your project.
• It just confuses the workforce if you reward behavior that actually goes against those values. You want to bolster those values, build on them, reinforce them.

Make sure you clearly connect rewards and recognition to desired behavior and performance.

• Base your evaluation on project performance metrics that that measure performance or productivity, such as meeting deadlines, helping others reach their goals, going beyond expectations in results, making improvements in processes, templates, etc.

If you do not have a lot of support in your organization for expenditures for rewards, consider recognition emails/letters from high-level leaders. Don't give up on some kind of effective reward system. It can set you apart from other managers in a time where the workforce really needs some support.