Recognition loved by employees creates loyalty. Loyal employees give you the leading edge.
Recognition must be simple. It can’t take a lot of time and thought or effort. The most effective programs are both simplified and ongoing or a big memorable event that is held annually. To be successful it cannot be both constant and time intensive.
Non-Monetary recognition has a higher R&D return on investment—as much as 325% higher than those who use monetary rewards according to Robert Williamson, president of ipPerformance Group. (press Release September 2011).
The bottom line is that simple and effective recognition of the innovation gives a better return on investment. This is easily done when you present the inventor with a patent award. This type of recognition also creates loyal employees who are motivated to give your business a leading edge over the competition. If you are currently recognizing your inventors and engineers with monetary gifts, kudos to you because you understand that some kind of recognition is needed! We challenge you to take it a step further. Strive to create a positive and competitive work environment by tying the recognition directly to the innovation by giving your inventors patent awards.
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