How can companies effectively balance between recognizing individual achievements and fostering a sense of teamwork and collaboration within their organization through their recognition programs?

Companies can effectively balance between recognizing individual achievements and fostering teamwork by implementing a recognition program that includes both individual and team-based awards. They can also promote a culture of transparency and communication to ensure that recognition is fair and inclusive. Additionally, companies can encourage collaboration by tying recognition to team goals and emphasizing the importance of working together towards a common objective. Ultimately, a balanced recognition program should celebrate both individual contributions and the collective efforts of teams to drive overall success and engagement within the organization.