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Forbes on Recognition: "Financial reward…is not the equivalent of recognition"

January 17, 2013

In an article titled 5 Ways Leaders Rock Employee Recognition on Forbes.com earlier this week, contributor Meghan Biro wrote about the disconnect when financial rewards are used as recognition:

These rewards, however, can backfire; they tell the employee that he or she is worth n dollars to the organization for some level of effort. In my opinion this approach misses the point of recognition: people are motivated by more than money. People crave positive feedback, recognition they put in extra effort, acknowledgement of leaders and peers, the glow that comes with knowing an achievement has been seen, appreciated and celebrated.

Biro outlines 5 elements to effective recognition: timeliness, business-goal oriented, appropriately scaled, authentic, and valued by the employee.
Biro describes the need for “smart” HR Technology solutions that enable human interaction instead of replacing it.
Give a WOW may be just that solution for businesses that want to deeply engage their employees with the mission and vision of the organization through authentic recognition.  This social media-style recognition platform fosters genuine appreciation and creates visibility for the small and large successes that drive your business forward.
 

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