Tips for Approaching Rewards and Recognition Schemes

Tips for Approaching Rewards and Recognition Schemes

Rewards and recognition are often neglected in innovation strategies, but they should be a fundamental part of it. Find out what existing schemes the organization has and leverage them. Understand the culture of praise and the impact of rewards on the business and company culture. Get to know your people and tailor your rewards to different types of individuals. Make rewards personal, memorable, and tie them to your innovation strategy. Balance the type and frequency of rewards to ensure people get involved for the right reasons.

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More Innovation Resources:

Growth Studies (Growthhackers.com)

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Crowdsourcing: Bolstering Your Company's Survival Kit

Crowdsourcing: Bolstering Your Company's Survival Kit

Crowdsourcing and leveraging the collective knowledge of employees is crucial for innovation and staying ahead in today's competitive business environment.

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Away With the Innovation Funnel Process

The traditional innovation funnel where 3,000 ideas are needed for one successful product needs a revamp. Instead of a single inventor, a diversified team trusted by management should be empowered to pursue new ideas and present them to management with clear answers on viability to ensure success.

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