More than Fun and Games
At the beginning of a project excitement abounds. There is an allure to working on the next big thing to move the business forward. Yet, as the days turn into weeks, and the weeks into months, the allure begins to fade when the finish line is just a dot on the horizon. The middle of a project is when it can be hard to maintain focus and stay the course. Planning for this downturn in energy is important, and implementing a reward and recognition plan can help bolster the team’s energy reserves and keep the momentum going.
A reward and recognition plan serves as a means to encourage and reward the project team and key partners for their contributions to the project and its success. The plan should contain both monetary and non-monetary incentives that reinforce commitment.
A comprehensive plan should include:
- Criteria for how and when project team members and key partners will be recognized and rewarded.
- A budget. Allocating funds specifically for reward and recognition ensures the plan can be consistently administered across the life of the project.
- Recognition that is delivered in a timely manner, for a specific reason, and in a way the individual finds meaningful.
- Opportunities for team members and partners to maintain relationships.
- A few examples might include: Project Team recognition with a virtual happy hour; Individual recognition with a personalized award, event, or time-off.
Reward and recognition is often overlooked in a task driven environment. It is important to remember that the individuals working hard to complete those tasks need to feel appreciated. While providing meaningful recognition has always been a key component in the project plan, today’s fractured working environment further heightens the need. The benefits reaped from implementing a reward and recognition plan far outweigh the cost.