How to reward top performers when money is no object

By Heather Hilliard
|Canadian HR Reporter|Last Updated: 08/10/2001

Retaining and motivating top performers are critical issues for leaders, HR practitioners and organizations in general. Given the current job market, high-performing employees have the freedom and power to pick and choose where they work. This makes finding and keeping top performers more difficult than ever.

One way to attract and retain top performers is to provide a generous and unique reward package. Organizations that recognize the importance of high performers to organizational success are putting together reward packages that are increasingly diverse and creative, differentiating rewards based on performance in a meaningful way in order to keep top talent.

A carefully planned reward program can also be an effective tool for supporting a positive company culture, motivating employees and improving retention rates. A reward program is designed to motivate people to achieve organizational and individual objectives through improved performance, providing concrete rewards for quality performance that are consistent with short- and long-term organizational goals.