The purpose of our research is to explore how rewards serve to fuel a collaborative culture, energize and motivate team members and nurture innovation.
In total, 30 in-depth, qualitative interviews were conducted with executives – high-tech, low-tech and no-tech.
The following findings emerged from the field research: rewards can be both financial, such as bonuses and incentives, and non-financial, such as extra vacations or other gifts. Huge internal personal benefits accrue from setting up a reward structure, including increased pride, peer recognition, higher self-confidence, greater job satisfaction and enhanced self-accomplishment. When we recognize others, it can impact an individual's self-worth on a profound level. It is described as feedback that sinks into the core.
Three milestones have been outlined throughout the innovation process where opportunities for recognition can exist: upon recognizing insights for identifying a problem, after understanding and overcoming difficulties encountered during creative solution generation and when recognizing and activating the benefits accrued from pinpointing solutions to the problem.
