High Performance - 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 | Stitcher   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            Get your copy of How To Be A Change Superhero by emailing at [email protected] Lou's Marathon Programme ABOUT THE HOST Lucinda Carney is a Business Psychologist with 15 years in Senior Corporate L&D roles and a further 10 as CEO of Actus Software where she worked closely with HR colleagues helping them to solve the same challenges across a huge range of industries. It was this breadth of experience that inspired Lucinda to set up the HR Uprising community to facilitate greater collaboration across HR professionals in different sectors, helping them to ‘rise up’ together. “If you look up, you rise up” CONTACT METHOD Join the LinkedIn community - https://www.linkedin.com/groups/13714397/ Email: [email protected] Linked In: https://www.linkedin.com/in/lucindacarney/ Twitter: @lucindacarney Instagram: @hruprising Facebook: @hruprising This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/