Rewards are part of employee motivation schemes at work. Whether rewards help in getting people to perform at their best should be closely verified in your company context. Just look for the change in performance levels of all those people who missed getting the reward. Most of them might start performing lower than their normal. Since the reward will be for a handful of people, there’s the risk of lowering the performance levels across a great population of employees. The reward for a few might have turned into punishment for the company.
In most of the cases, rewards motivate people to work towards getting rewards. They might tend to do just what it takes to qualify. Risk-taking ability reduces drastically. People might compete more than cooperate or co-create. High-performers in any job, work because they love to do that job, the joy it brings to them naturally. Same is true for Entrepreneurs and Intrapreneurs.
While you are designing and building a high-performance work-culture, take note of how to motivate people intrinsically in your business context. Give them what is required to perform at their best – freedom to think, act, fail, collaborate, co-create and create wins all the way. Supplement their effort with world-class training, mentors, and work-environment that accelerates their success. Let them form, abide and govern themselves to achieve their best. That’s the best reward you can give to high-performers who are driven from within and stand-tall for what they do.