What happened? Just yesterday (or at least it felt like just yesterday) everything was moving along great. The environment held an air of excitement. The team was working well together, and energy was high. Now, it isn’t. Morale is dropping and the team is beginning to fracture. What’s your next move?
A very helpful step is to confirm that a reward and recognition plan is in place, and then, ensure that it’s actually being implemented. It always feels good to be appreciated, and it can help bolster the team’s energy reserves to get the momentum going again.
Key Components of a Comprehensive Reward and Recognition Plan
A reward and recognition plan serves as a means to encourage and reward the team and key partners for their contributions. It should contain both monetary and non-monetary incentives that reinforce commitment. Below are key components for a comprehensive reward and recognition plan:
- Is there a formal reward and recognition plan in place?
- Who do you want to reward and recognize?
- Is it your department, team, peers?
- How do the individuals want to be rewarded and/or recognized?
- Privately? Publicly? What is meaningful to each individual?
- When will you deliver the reward or recognition?
- On a regular cadence? Ad hoc?
- Who do you want to reward and recognize?
- Is there a budget in place?
- If so, how much?
- If not, can you secure it?
Reminder: If there is a plan already in place; there is often not a budget to support it
Reward and Recognition Boosts Morale and Productivity
Reward and recognition doesn’t have to be difficult, expensive, or time consuming. If done thoughtfully, the time and effort invested will have a positive effect on morale and productivity. And who doesn’t want more of that?
About the Author
Heather Segelke co-founded 6th Level Consulting Group, a professional services firm, and is currently a Managing Partner.
