When a $1,000,000 Reward Is Appropriate * Live the Values

I often write about the importance of integrating strategic recognition into total rewards plans – finding a way to make frequent, timely, appropriate recognition and rewards part of the overall way in which employees receive feedback and are rewarded in the organization.

But there is a place for very large, high value rewards in an organization. I can think of no better example than that set by Intuit with their first ever “Founder’s Innovation Award” – a $1,000,000 reward for high impact innovation. (Full disclosure: Intuit is a Globoforce client.)

Watch the video below to see Intuit founder Scott Cook and CEO Brad Smith present this award to Hugh Molotsi who, as a young software developer, led an internal start-up that created the QuickBooks Merchant Services business.

After the video, see my take on the three key values worthy of such a tremendous reward.

  

 There’s no doubt what Hugh achieved had a significant impact on Intuit. But what makes his achievement worthy of $1,000,000?

1. Hugh created something of value to the customer.  – Hugh listened to Intuit’s merchant customers, understood the challenges they faced with processing credit card purchases, saw the opportunity in that, and took the initiative to find a solution. He saw a need, and he filled it.
2. Hugh’s innovation also generated value for the organization.  – Not only did Hugh’s solution fill a need, his approach rapidly delivered profit to Intuit. In just two months, Intuit as an organization benefited from Hugh’s innovative nature, and the profits continue to pour in.
3. Hugh succeeded by living the values of the organization. – It’s clear from both Scott Cook’s comments and Hugh’s own shocked response that Intuit’s core values are deeply believed and lived across the organization. Scott Cook had this to say, “Hugh exemplifies a values driven leader. He lives our values and makes us proud of him, from integrity through inspiration.”
   
   Hugh’s response is even more telling:
   
   “Thank you, this is very generous, especially since everything I’ve done here at Intuit is only possible because of the amazing company. I’m grateful to work here. Scott, you’ve founded a company that has great values because you have great values. You’ve instilled it.”

A common theme for me is the importance of helping employees know and understand your company values so well, they cannot help but live the values out in their daily work. Intuit is a tremendously powerful example of how companies not only can profit from doing so, but also create a powerful culture in which their employees can excel and grow.

What achievements have you seen in your organization that would be worthy of a $1,000,000 reward?

As Globoforce’s Head of Strategic Consulting, Derek Irvine is an internationally minded management professional with over 20 years of experience helping global companies set a higher ambition for global strategic employee recognition, leading workshops, strategy meetings and industry sessions around the world. His articles on fostering and managing a culture of appreciation through strategic recognition have been published in Businessweek, Workspan and HR Management. Derek splits his time between Dublin, Montreal and Boston. Follow Derek on Twitter at @globoforce.