When did you last thank someone in the workplace?  A simple and genuine “thank you” at the right time can go such a long way.

Depending on what you’ve in place already, a mix of different activities can be undertaken in this area.  For example, salary surveys can be expensive for small to medium enterprises, but alternatives are available.  Glassdoor is an option but tends to be less reliable as it is self-reporting and not the whole data.

A review of benefits on offer can be undertaken to assess competitiveness together with recommendations and their costs by working in conjunction with the relevant partners.  Bonus plan design and measures could be assessed, tweaked at a suitable opportunity if required and communicated.  Share option schemes and their conditions can also be reviewed.

There is a close link between recognition and levels of engagement, especially if linking to the wider social purpose.  For example, volunteering days as part of your corporate social responsibility agenda could be explored.  Also, innovation can be recognised with interesting events and rewards.

As part of HR best practice, a transparent and clear grading system is crucial in terms of providing greater clarity about career progression (and it can help protect you against any potential discrimination claims).

Whilst reward is important, it is worth taking 10 minutes of your time to watch Dan Pink’s YouTube video on Motivation by RSA Animate (see below).  As a business, if you can afford to take money off the table, there’s so much more that you can do within your company.