Do you know the difference between rewards and recognition? You need to. Both are important. They work together. Too many people lump them into one category and don’t stop to consider how to make rewards and recognition work together to support your employee engagement strategy.
Here’s the simple truth –
Rewards are used to attract employes. Recognition is used to keep employees.
It’s true. Think about it. Rewards are rational, short term and based on budget. Recognition is based on values and principles and has a lasting emotional benefit.
I think about it this way .. People will take the raise, but crave the praise. Do you agree?
Are you addressing both the rational and emotional needs of your employees?
Click on the image below to see the full Infographic.