Recognition Schemes

“I don’t feel valued around here” - off the cuff remark or does it say something about the culture?

Reward is the cornerstone of any employment relationship, and, according to management gurus, it comes in two forms. The first is "intrinsic reward", where an employee benefits by virtue of the employment itself through job satisfaction, intellectual stimulation and status. The other type is "extrinsic reward", where employers make it economically worthwhile for employees to do a job: pay and benefits are the classic examples here.

Sitting between the two extremes is non-financial reward. This focuses on the qualitative aspects of reward, such as recognition and achievement. There is growing awareness amongst reward managers that non-financial reward, and particularly the need of colleagues to “feel valued and recognised,” can represent better value than cash and can add significantly to staff morale and subsequently the company’s ability to achieve its objectives.

Setting up a Recognition Scheme need not be expensive and can provide a catalyst around which development of a wider recognition culture begins to emerge. From a practical point of view, it can often bring together ad hoc practices that may already be taking place in some departments, introducing consistency and record keeping for tax purposes.

CELRE can work with you to create a Recognition Scheme, develop a launch plan and reporting system to fit with your organisational needs. This part of the process can be as simple or complex as you wish. The critical point is that you are putting recognition firmly on the map as part of the overall reward strategy.