There are many ways to retain existing employees through recognition and rewards. Recognizing top performers with cash bonuses and praise can help employees feel appreciated and become loyal to the organization.
Define a spot recognition program and provide an example of an appropriate spot bonus.
Identify at least three potential drawbacks or problems with implementing a spot recognition program.
What are some ways to mitigate the problems identified by implementing a spot recognition program?
Identify at least one recognition or reward that can be used to motivate a millennial but may not be as appealing to a baby boomer; explain your thoughts.
Share your experiences in your narrative.
After reading a few of your classmates’ posts, reply to those from whom you learned something new or posts to which you have something constructive to add. For example:
Discuss what you learned.
Ask probing questions or seek clarification.
Explain why you agree or disagree with your classmate’s main points, assertions, assumptions, or conclusions.
. Spot Recognition Program and Example:
- Definition: A spot recognition program is an immediate, on-the-spot method of acknowledging and rewarding employees for exceptional performance, specific achievements, or going above and beyond their regular duties. It’s designed to be timely, specific, and impactful.
- Example of Spot Bonus: A marketing team member, during a product launch, identifies a critical flaw in the online campaign at the last minute. They work overtime and find a solution, saving the campaign from failure. A manager could award a $250 gift card or a cash bonus of $250 immediately to recognize their swift and crucial action.
. Spot Recognition Program and Example:
- Definition: A spot recognition program is an immediate, on-the-spot method of acknowledging and rewarding employees for exceptional performance, specific achievements, or going above and beyond their regular duties. It’s designed to be timely, specific, and impactful.
- Example of Spot Bonus: A marketing team member, during a product launch, identifies a critical flaw in the online campaign at the last minute. They work overtime and find a solution, saving the campaign from failure. A manager could award a $250 gift card or a cash bonus of $250 immediately to recognize their swift and crucial action.