This article looks at how rewards and recognition vary so you can learn how to implement incentive based programs effectively.

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Every successful company knows that when you have motivated employees, all areas of the business improve. A happy workforce counts for a lot and can mean make or break for any brand. If you are updating your HR strategy, seeking some good incentives that keep your staff focused and happy in the workplace is crucial. This article will give you some great tips on where to start.

Firstly, it’s good to break down incentives into two main categories: rewards and recognition. There are positives to both and it is ultimately about what you want your employees to receive and feel after achieving success.

No matter how old, new, large or small your company is, you want to ensure you get the balance right for staff advocacy. The key is learning what drives your employees. What makes them tick? Every member of staff is different. One person may thrive off receiving recognition in a team meeting for a good piece of work. However, the other may get more of a buzz from tangible rewards such as bonuses.

Here is a breakdown of what the main differences are between rewards and incentives:

• Tangible VS Intangible. This is good to bear in mind when creating reward and recognition programs. Whereas you can give recognition and no reward. It is negative to do so the other way round. Always give recognition where possible as it’s priceless. It makes the employee feel satisfaction on a deeper level. Recognition will always boost morale and give your employee more reasons to keep up the good work. This can also work with giving each employee an identity like those from https://instantcard.net/. This gives thenm a sense of both uniqueness and being part of something which can both encourage work ethic and general morale.

• Keep recognition personal and rewards transaction based. Try not to blur the lines of both incentives. Rewards should be based on receiving something good if the employee does a certain action or achieves a certain goal. If you are looking at reward options for your staff, you could look at ways to buy bulk gift cards or vouchers. On the other hand, recognition is more personal and should be centered on the relationship you have with your staff. Any potential employee would love to hear about the company’s benefits. Consider giving a hard working employee an extra day leave, as a reward for their hard work! That would surely help them improve their performance! However, long-term members value recognition highly.

• Recognition lasts longer then rewards. As rewards are normally of monetary value, they are quickly spent. On the other hand, recognising your employee’s hard work and voicing this in a meaningful way is experience based. Experience goes a long way and can always be remembered fondly by the member of staff.

• Rewards are temporary. Recognition is long-term. Reward and recognition programs can be a great way to keep employees achieving their fullest potential. It is good to remember that rewards do not last long. They can also be transferred from person to person. However, recognition is specific to that employee and lasts much longer. Especially if the individual has put in hard effort and passion over a project.

• Employees expect rewards. Rewards are normally outlined to employees at the start of the contract. They know exactly what action will get them a specific reward. This works well however recognition can be a great way of surprising employees. Keeping them on their feet and being spontaneous when congratulating people can have a lasting effect. People love to be appreciated and made to feel valued within a company. Get your recognition right and you will have a long-serving workforce on your side.

• Recognition focuses on behaviour whereas rewards focus on outcomes. Another difference between the two incentives is that rewards are based on results. Employees achieve ‘X’ and get ‘X’ in return. However, recognition can happen unexpectedly whenever an employee does something notable.

It’s good to get the right mix and figure out what works well for your employees personally.