How can companies strike a balance between recognizing individual achievements and fostering a collaborative team environment through their rewards and recognition programs?

Companies can strike a balance by implementing a combination of individual and team-based rewards. They can recognize individual achievements publicly while also emphasizing the importance of teamwork in achieving overall goals. Reward programs should be structured in a way that encourages collaboration and mutual support among team members. Additionally, companies can create opportunities for team members to celebrate each other's successes and contributions, fostering a culture of recognition and teamwork.