From guest poster, Wally Bock.
The phrase “employee rewards” covers a lot. There’s the formal compensation plan, including bonuses. Many companies also have formal recognition and incentive programs.
The odds are that you don’t have much to say about any of those. If you’re responsible for the performance of a group, though, you can deliver the most powerful reward of all: meaningful praise.
Praise is the boss’s power tool. It’s the way you encourage people to try something new or to keep doing something good. Here are four rules for using this powerful reward.
Praise the praiseworthy. Praise achievement, of course. But praise progress and effort and helping others.
Praise a lot. Try to have three times more positive interactions, including praise, encouragement, and support, than negative ones.
Praise promptly. The closer to what you’re praising, the better.
Praise comfortably. Deliver praise in a way that’s best for the person receiving it. Be sensitive to those people who prefer their praise in private.
Boss’s Bottom Line
The most effective bosses praise a lot.