It’s not just about salary and benefits, but about recognizing employees as human beings, with needs and expectations, rather than as human capital. While needs are individualistic and complex, the basis is simple. It’s about recognition and reward.

In Bob Nelson’s article, “Ten Ironies of Motivation”, he explains, “More than anything else, employees want to be valued for a job well done by those they hold in high esteem.” As a result, you can expect high morale and motivated employees who feel inspired and loyal. When you create an environment in which an employee feels valued for their contribution they are more likely to want to stay.

How does your company recognize employee performance?