Keep Employees Motivated
Tie rewards to your organization's objectives.
All members of your team should know your organization's objectives. If they don't, then you have to make sure everybody knows what your objectives are as soon as possible. Then you may announce a formal reward program that is directly tied to achieving these objectives. Formal rewards not only help reinforce the importance of organizational objectives, they also add an element of fun.
Excerpted from Attracting & Rewarding Outstanding Employees