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.