What is more important - pay for performance or recognition for performance?

You are a healthcare leader at a local hospital and motivation has been identified as a central issue with your staff. You are looking into the evidence to see if providing raises/bonuses or recognition will be more effective to increase motivation.

Using evidence (from chapters 12, 13 of the e-text for this course), provide an argument for one of the two approaches based on the evidence you have read. Remember to include pros/cons of both approaches in your answer.