There are many ways to retain existing employees through recognition and rewards. Recognizing top performers with cash bonuses and praise can help employees feel appreciated and become loyal to the organization.
Define a spot recognition program and provide an example of an appropriate spot bonus.
Identify at least three potential drawbacks or problems with implementing a spot recognition program.
What are some ways to mitigate the problems identified by implementing a spot recognition program?
Identify at least one recognition or reward that can be used to motivate a millennial but may not be as appealing to a baby boomer; explain your thoughts.
Share your experiences in your narrative.