From the course: Rewarding Employee Performance

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Five considerations about rewards

Five considerations about rewards

From the course: Rewarding Employee Performance

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Five considerations about rewards

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- There is really a lot to consider when designing or retooling a rewards program. I'd like to share five more considerations that have helped me along the way. Number one, consider short-term versus long-term goals. Psychologists will tell you that people are more motivated by stimulation than by satisfaction. As John Warner Barber said in his book, 1000 Proverbs, "The greatest benefit is the one last remembered." So all that is to say we have to consider if there's a true benefit in long-term thinking. Now, theoretically, stock options and other rewards that vest over time are geared towards driving long-term loyalty, retention, and performance. But do they in fact do so? Only your unique data can answer that question. Number two, there are limitations on using rewards and incentives to promote safety. For example, Osha is concerned that rewarding employees for safe days can chill employees from reporting injuries. So under Osha, you can have a pizza party rewarding safety training,…

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