Measuring your reward programme is critical to its ongoing success. Some rewards are easily measured if they are part of a sales performance programme or aligned to Key Performance Indicators. In this type of programme, the rewards should actually be self-funding through the performance improvement which keeps both the Sales and finance Directors happy! The key is to ensure the measures of success are predefined by the key stakeholders and communicated to all.
More detailed, just as important, reward elements such as milestone achievements, workplace peer to peer nominations & manager nominations are all still impacting on performance & team morale and as such are intertwined. Measures for these should be included in the performance review process as a core discussion. When and why did the employee nominate a colleague for
recognition or receive a nomination from a colleague or line manager? How did it make them feel? What was their colleagues reaction? How has it impacted on their role? Employee surveys are also a great tool to understand how valued or recognised the employee feels. Remember, recognition is just, if not more, important than the reward its-self.