Chapter 6 pg’s 155 Lead With Love By: Gerry Czarnecki
How should you reward your associates? Remember that recognition is far more powerful than monetary rewards. Of course, it is important to pay people what they are worth, and often what they are worth changes as their performance improves.
Compensation is not irrelevant, yet it has much less of an impact than most leaders expect. People will do almost the impossible if they think they are appreciated and if they are being led by a person who cares (loves).
Praise can be an art form, or it can be a waste of time. When associates do the right thing or get the right results, they must know the leader noticed. But Noticed is not enough. Be certain you communicate your approval of their performance and that you want them to continue to achieve that same success in the future. The real issue for a leader is to know when and how to reward.
Again, make certain you pick the right time to reward. You should always find a way to reward for success when expectations are achieved. It is particularly important to reward those efforts that result in successes where failure existed before or when a major milestone has been achieved along an important plan. Always try to make the reward or praise happen right after the success.