How to Design a Corporate Reward Program for Employees

The following are general guidelines for what must be put in place to effectively initiate, develop, launch and implement an effective all-employee reward program.

• A corporate-wide all employee achievement reward program must be derived from specific goals which can be clearly measured and effectively communicated.
  
• The reward program must be "packaged" or positioned in a clear, concise and memorable format.
  
• Senior management support is essential, however "buy-in," commitment and support must come from all levels of management.
  
• Specific employee reward program initiatives must produce measurable results that directly impact the bottom line and deliver substantial ROI.
  
• All elements of an employee reward program must be linked to the achievement of specific and clearly defined goals.
  
• Participating employees must be presented with timely rewards at a value commensurate with their efforts and contributions. A base award earning opportunity should form the foundation of the program and be linked to achievement of corporate goals. In addition, instant awards and discretionary award opportunities should be present to generate ongoing enthusiasm and reinforce the overall importance of the program.
  
• The employee reward program must be clearly, effectively and frequently promoted in order to build awareness and maintain enthusiasm and excitement.