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Reward and Recognition

In: Cultivating Organizational Excellence

Author

Listed:
  • Albert Ferdinand Aalders

Abstract

Excellent organizations apply reward and recognition, including elements of target setting, as behavioural drivers for performance as well as transformation. Translation of organizational objectives to personal and team objectives in the organization is essential. The scales (organizational as well as temporal) at which the overall reward and recognition schemes are applied are key design parameters for overall effectiveness. Consequences of organizational transformation and contextual dynamics will be covered to demonstrate how flexibility can be embedded in the approaches followed. Target setting should anticipate the volatility of the circumstances, and its robustness helps the people in the organization to keep a steady course during the changes that are going on. At the same time, recognition needs to be given for those achievements that contributed to shorter-term organizational success as well as those over a longer period of time. A balanced award scheme can cater to this. All of these factors make reward and recognition a key instrument to drive excellence in the organization. External recognition which is an essential component of excellence, will follow. Several examples of that are given.

Suggested Citation

  • Albert Ferdinand Aalders, 2023. "Reward and Recognition," Management for Professionals, in: Cultivating Organizational Excellence, chapter 6, pages 125-147, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-26289-0_6
    DOI: 10.1007/978-3-031-26289-0_6
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