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Beyond Performance Management: Why, When, and How to Use 40 Tools and Best Practices for Superior Business Performance by Steve Player, Jeremy Hope

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38

RECOGNITION AND REWARDS

What is this practice and how effective is it?

Recognition and rewards are a minefield of ideology and misinformation. Most leaders believe in incentive compensation as a key driver of higher levels of performance. However, the evidence that financial incentives motivate people is hard to find, and there is plenty of evidence for the opposite view that incentives do more harm than good. So what is the alternative? We will examine the evidence and look at alternative approaches.

Alternative names and related topics: incentive compensation; management rewards; recognition systems

To many people, motivation and rewards go together like peaches and cream. They are inseparable. But if we just revisit Motivation 101 for a ...

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