The Difference Between Rewards and Recognition


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Do you know the difference between rewards and recognition? You need to. Both are important. They work together. Too many people lump them into one category and don’t stop to consider how to make rewards and recognition work together to support your employee engagement strategy.

Here’s the simple truth –

Rewards are used to attract employes. Recognition is used to keep employees.

It’s true. Think about it. Rewards are rational, short term and based on budget. Recognition is based on values and principles and has a lasting emotional benefit.

I think about it this way .. People will take the raise, but crave the praise. Do you agree?

Are you addressing both the rational and emotional needs of your employees?

Click on the image below to see the full Infographic.

Rewards and Recognition

Click on image to enlarge

Republished with author's permission from original post.

Peter Psichogios
Peter Psichogios is the President of CSI International Performance Group whose mission is to help companies create engaging employee and customer experiences. Prior to joining CSI International Peter served as an executive member of one of the largest Instructional System Association companies in the world. In this capacity, he led all the front-end analysis and worked directly with Dr. Ken Blanchard. Peter has been fortunate to work with the who's who of the Fortune 500, helping them deliver innovative learning, engagement and recognition solutions.


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