The risks of no reward

Some employers feel only money can motivate staff. While that may be the case for those in sales, for others it has limited application as, in time, they become used to the pay and resent what is taken in tax.

In contrast, as good managers know, it is possible to motivate employees by recognising and rewarding traits the business wants to encourage. It is the reason why many public-facing firms have ‘employee of the month’ boards; their aim is happy employees in conjunction with business success.

But a recognition and rewards scheme can do much more. Used properly, it can reduce staff turnover, which can be very disruptive and ultimately will involve expense in finding replacements who need training.