Strategic Rewards and Recognition
British business author John Fisher has followed up his recent book, “Strategic Brand Engagement,” with “Strategic Reward and Recognition.” The 246-page book, published by Kogan Press, focuses on “improving employee performance through non-monetary incentives.” This is the only book we know of that focuses specifically on noncash rewards and recognition programs, and should be on the desk of anyone who plans such programs.
Although the book is written from a British perspective, most of the issues raised resonate equally with U.S. managers and probably with most other world marketplaces. The author systematically tackles fundamental points, such as incentives versus recognition, bribery and corruption, brand consistency, etc. He explains why he believes that “benefits” do not deliver performance improvement. He outlines recognition and reward theory, reviews the current use of different types of incentives in business and proposes a performance improvement program model.
The book proceeds to thoroughly address all of the key areas of program design – understanding the audience, addressing skills and learning issues, developing rewards & recognition strategies, communications and others. He devotes a chapter to structuring the program, another to setting the budget and yet another to multi-national programs. Additional chapters cover rewards & recognition troubleshooting and what Fisher believes to be the future of rewards & recognition, including his answer to the question: Is it “time for rewards to go?” We don’t want to be spoilers, so pick up the book to find out his answer for yourself.