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Harnessing the Power of Reward & Recognition

November 12, 2010

In the latest issue of FUNWORLD Magazine (November/December 2010), Terryberry authors Ann-Maree O’Neill and Shaun McKeogh give readers a step by step guide on how to build a successful recognition framework and explain why now is NOT the time to abandon employee appreciation programs.
“When times are tough and budgets are tight, organizations should be looking to expand their recognition programs instead of cutting them back…the lack of an effective employee incentive scheme often costs the business more in the long run. Research shows that recruiting and training a new staff member can cost as much as the original employee’s annual salary.”
As businesses anticipate the coming flight in the talent marketplace as baby-boomers retire and the economy improves, O’Neill and McKeogh drive home the idea that now, more than ever, is the most important time for organizations to “inspire, engage, and retain talented employees.”
Through effective recognition, business leaders have the opportunity to gain their employees’ loyalty and “maximize their creative effort in helping to realize the goals of the organization.” Day after day, leaders are called upon to be the motivator in chief, acting as a cheerleader for employees. In doing so, they can bolster morale and build a culture where positivity reigns and high fives are infectious!
So, how does one begin to implement a recognition initiative? O’Neill and McKeogh offer these five steps to follow when building a recognition framework:
1. Get Management on Board
2. Design Your Strategy
3. Provide the Tools
4. Share the Success
5. Be a Recognition Champion!

O’Neill and McKeogh realize that a little recognition can go a long way! In fact, recognition programs “can bring you a significant return on investment at a much smaller out of pocket expense.” Not to mention the fact that the incredible power of reward and recognition can “change attitudes and inspire workers to become engaged team members with shared visions.” After writing their book, “Reasons 2 Reward,” this savvy recognition duo developed six low-cost recognition tools that organizations can adopt and put into practice right away. Here is an abbreviated version of their fool-proof list:
1. Meet New Employees
2. Day-to-Day Recognition – The power of the hand-written note! A short message will do. Drop by someone’s desk to say “thank you” or make a quick phone call. This doesn’t take a lot of time or effort. It’s the thought and gesture that counts!
3. Recognition from the Top – A powerful way to recognize for an outstanding contribution is to have the chief executive or manager express their appreciation.
4. Make goals Achievable
5. Display it! – A physical award is a highly motivational tool. Show it off for colleagues or family members to see.
6. Encourage Peer-to-Peer Recognition – A popular way to introduce positive communication into the workplace. Give a WOW!

“Like laughter, motivation can be contagious. Reward those who achieve results, and the others will follow.”
Read the entire article on recognition and reward in this month’s FUNWORLD Magazine.
New Book Release from the Terryberry Company!
Reasons 2 Reward

by Ann-Maree O”Neill and Shaun McKeogh with foreward by Mike Byam
Get your copy in print or digital format! Makes a great holiday gift!
Buy in Print

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