Why the Oscars is Good For Business!

With Oscar Night less than 48 hours ago, the best actors and actresses in the international film industry have been recognised and rewarded for their achievements for the year just gone...but have you rewarded your staff or been rewarded for your achievements this year?

Whilst winners of the Oscars are presented with the famous award and go on to receive global recognition, the process of recognising excellence in the workplace is equally relevant in any industry or business.

Throughout my time working for BusinessCoaching.co.uk reward and recognition is an issue that consistently crops up with CEOs, Managing Directors and Senior Managers. 

Whilst many business people pass this off as a ‘nice to have’ it is critical to business success, not only influencing morale in a workplace but ultimately hitting the bottom line. There are a few easy steps that you can take to start a reward and recognition program in the workplace. Your starting point is to understand that people are motivated in many different ways – in fact there are over 10 key motivators. Many business owners wrongly assume that salary or financial reward is the number 1 motivator but this is in fact not the case.

Recognition is right up at the top of the list, often a well-placed ‘Thank You’ is a fantastic motivator and it’s free! Even better, is public recognition, which is where your own Oscar Ceremony comes into play. When did you last take time out to celebrate and acknowledge the success in your team and say thank you?

Hollywood is full of creative geniuses, hard to manage actors and divas – just look what the Oscars’ do for them!”

Kind regards

Laura Ashley-Timms - Director of Coaching