You can get huge value by considering some simple recognition programmes instead of cash bonuses. Michael Rose has undertaken extensive research in this area and has written two books on the subject. A Guide to Non-cash Reward and the latest, Reward Management. Projects undertaken include:
- Designed a new recognition scheme for a major service provider covering over 25,000 people
- Developed a non-cash recognition approach in place of bonus plans that were no longer in line with the division's aims
- Developed a recognition strategy which encouraging local initiatives within broad guidelines
You might find these one page tips on recognition and non-cash reward of interest.