How can companies effectively balance the need for individual recognition with the importance of promoting teamwork and collaboration within a team or organization?

Companies can effectively balance the need for individual recognition by implementing a reward system that acknowledges both individual achievements and team contributions. This can be done through performance evaluations that recognize both individual and team accomplishments. Additionally, fostering a culture of open communication and transparency can help employees understand the importance of teamwork and collaboration in achieving overall organizational goals. Encouraging team-building activities and providing opportunities for cross-functional collaboration can also help reinforce the importance of working together towards a common objective while still recognizing individual efforts.