From the course: Performance Management: Improving Employee Performance

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Recognize and reward great performance

Recognize and reward great performance

From the course: Performance Management: Improving Employee Performance

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Recognize and reward great performance

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- According to a survey by BambooHR, 69% of workers said they would work harder if they received more recognition. When the stakes are that high you understand why recognizing and rewarding performance is a big topic. So big in fact, that I created an in-depth course on it. But right now, let me share some quick ideas you should consider when thinking about how to recognize and reward employees. The single greatest way to reward great performance will always be money. My personal experience aligns with what I've read in almost every survey, and that is once employees feel they're paid fairly other forms of recognition will start to matter more than money. And the number one motivator, other than money? Timely and direct verbal recognition from the boss. If you give a financial reward make sure it's commensurate with the value the employee added. If someone saves the company $100,000 in costs, you don't reward it with a…

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