Rewarding people
Overview
Reward packages account for a large proportion of your organisation’s total costs, so ensuring they work effectively to enable you to attract, retain and motivate your people is crucial.
Profile looks at your organisation’s approach to reward and recognition to assess to what extent it:
- Is part of a strategy to improve overall performance
- Is developed in consultation with people and representative groups
- Is rooted in an understanding of what really motivates your people
- Is applied - and is seen to be applied - fairly across the organisation
- Encourages teamwork, through creating a culture where individual and team success is recognised.
In developing a reward and recognition strategy, you should find out which incentives really motivate your people, and involve them in identifying the components of a flexible benefits package. ‘Benefits’ may comprise intangible factors too: the respect of peers, interesting work, and flexibility may all act as incentives.
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