We are a small company of about 30 people software company. I have a direct report to me who has done a great job at a recent project. I would like to recognize his contribution in some way. From what I have read it is problematic in the log run to give people monetary awards for such contributions for the following reasons
1/ The benefits quickly ware off
2/ You have to pay a lot of money to generate an iota of goodwill in the employee
3/ The employees then start to expect monetary awards after all projects.
What I understand is that with non-monetary recognition, the goodwill generated lasts longer with less upfront investment. How many of you have been through this? What was your experience like? Do you concur? What were some of the non-monetary awards you have employed in the past which worked (and also did not work)?