Leadership Evaluation

Introduction to Award Program

Any discussion of employee incentive programs will make use of many different terms, most of which will mean different things to different people. In order to ensure the discussion has apples-to-apples clarity, this paper begins with a basic lexicon.

Employee incentives are a form of payment that is tied to the performance of employees. The incentive payment can be either intangible or tangible, and with or without an actual cash value. Because they are non-discretionary, incentive payments can be given at any time when the performance of an employee warrants it. This inclusive category includes awards, bonuses, recognition, and rewards.

The categorical term award covers a lot of territory, and commonly includes monetary incentives, plaques and trophies, prizes and contest payouts, public recognition and commendation, and travel bonuses. A reward is generally given to an individual when a pre-determined goal has been met. Bonuses...
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