How Rewards and Recognition Can Supercharge Your Ability to Build a High Performing Team

Summary:

Many organizations make the mistake of stretching out their rewards and recognition events over too long a time horizon, which leads to disengagement among employees. Dr. Jim suggests connecting more rewards and recognition events to the short term to keep employees engaged. He recommends personalizing recognition, embedding it into day-to-day or week-to-week activities, leveraging peer-to-peer recognition, and aligning recognition efforts with organizational goals. By adopting a short-term mindset and focusing on recognition as part of the day-to-day work, leaders can empower managers, engage employees, and build elite organizations.

Key Takeaways:

Stretching out rewards and recognition events over a long time horizon leads to disengagement among employees.

Personalize recognition to make it more meaningful and impactful for individuals.

Embed recognition into day-to-day or week-to-week activities to keep employees engaged.

Encourage peer-to-peer recognition to foster collaboration and a positive culture.

Align recognition efforts with organizational goals to reward behaviors that contribute to business results and shared purpose.

Timestamp

[0:00:00] Rewards and recognition events are often stretched out too long.

[0:01:42] Recognition should be personalized and embedded into day-to-day activities.

[0:02:51] Peer-to-peer recognition and collaboration are important for engagement.

[0:03:54] Recognition efforts should be connected to organizational goals.

[0:04:37] Adding recognition to day-to-day work builds an elite organization.