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Podcast Episode 265: How Non-Financial Rewards Drive Employee Engagement and Performance

3 weeks ago

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3 min read

This Episode: How Non-Financial Rewards Drive Employee Engagement and Performance

Lucinda studies the topic of “Reward for Performance: What Really Works?” as part of our high-performance series.

She explores the multifaceted nature of rewards, emphasising that while monetary compensation is often the first thought, it is not the only—or necessarily the most effective—motivator for high performance. The discussion covers the importance of defining high performance within organisations, the role of recognition and intrinsic motivators, and the potential pitfalls of performance-related pay.

KEY TAKEAWAYS

High performance in organisations is not solely defined by output or sales figures. It encompasses behaviours, values alignment, teamwork, and leadership qualities.
Recognition plays a crucial role in motivating employees. Regular, specific, and timely feedback can significantly enhance engagement and performance.
While performance-related pay can motivate high performers, it must be transparent, well-defined, and linked to clear performance expectations.
In environments where financial rewards are limited, organisations can explore non-monetary rewards such as flexible working arrangements, learning opportunities, and personalised recognition.

BEST MOMENTS

“High performing organisations are 2.5 times more likely to have aligned performance expectations and recognition systems.”

“Recognition really does matter. And also, we have to think about intrinsic reward, motivation.”

“If you look at the evidence around what drives high performance, goal setting with regular feedback is one of the strongest sustainable drivers.”

“The most effective rewards come from truly understanding what motivates our people.”

Valuable Resources

The HR Uprising Podcast | Apple | Spotify | YouTube

The HR Uprising LinkedIn Group

How to Prioritise Self-Care (The HR Uprising)

How To Be A Change Superhero – by Lucinda Carney

HR Uprising Mastermind – https://hruprising.com/mastermind/

www.changesuperhero.com

www.hruprising.com

Find out more about Actus solutions:

Actus solutions

The HR Uprising Podcast | Apple | Spotify | Stitcher

www.hruprising.com
The HR Uprising LinkedIn Group
HR Uprising Mastermind – https://hruprising.com/mastermind/
New Info-book: Rethinking Performance Appraisals

Additional free HR Resources

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About The Host

Lucinda Carney is a Business Psychologist with 15 years in Senior Corporate L&D roles. Lucinda, for over 10 years as CEO of Actus Software has worked closely with HR colleagues helping them to solve the same challenges across a huge range of industries. Certainly, it was this breadth of experience that inspired Lucinda to set up the HR Uprising community. In order to facilitate greater collaboration across HR professionals in different sectors, helping them to ‘rise up’ together.

“If you look up, you rise up”

How To Be A Change Superhero – by Lucinda Carney