The I’s and P’s of IP Recognition Barriers

Are you recognizing your employees for their innovation?

Some of the most common barriers in IP recognition are infrequency, price, and priority.

When IP Recognition is infrequent (once or twice a year)
For recognition to work best it needs to be timely. Recognition should occur as close to what is being recognized as possible. Too often recognition is late or just doesn’t happen at all. Most recognition tends to focus on “service” or “tenure”, and while service awards are okay, they don’t present many opportunities to recognize often and in the moment. If you’re saving up all your recognition for a big annual event you may be missing out on motivating your employees more. Who gets motivated to go above and beyond if they are only recognized once a year? Think of recognition like baseball. While home runs are fantastic, they are few and far between. You’ll win more games if you recognize those singles and doubles that occur far more frequently and put more runs on the scoreboard, essentially recognizing patents as they grant monthly or quarterly.

When price is a barrier to IP Recognition
When price is a barrier, it can be interpreted in a variety of ways. The most common is simply the overall cost of developing a recognition program. How do you put a monetary value on the recognition of your employee’s innovational work and the value it creates for your company? It isn’t so much the cost of the awards but the act of recognition itself which motivates and retains your employees. Some may argue that if you pay your employees well, there is no need to recognize them; after all, they are doing the job for which they are paid for, right? While it is important to pay employees competitively, most people leave jobs due to their boss or the culture, not because of money. Recognition can help create a culture that keeps the right people engaged, happy, and working for you long term.

When your IP Recognition is not a priority
We have heard from companies who are interested in starting a recognition program and just never have got around to ironing out those details. It just never becomes a high enough priority to assign to someone to setup and manage. When you consider the benefits of recognition you will realize that the time you invest in it is one of the best investments you can make. Such a simple act can have a lasting impact on your employees, motivating and keeping them engaged in their innovative ways.

Because, at the end of the day, IP recognition is about seeing people, and the extra time and effort they put in. It isn’t just a program, or about the rewards, true recognition is about seeing, hearing and valuing people. And that matters more today than ever.