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While I always feel happy for the winners of the superstar trophies, on balance I find the scheme kind of demotivating. Personally, I don't need the external motivation of a prize, and I'm always left wondering how many people are feeling a little bummed that their hard work hasn't been recognized yet.
So my goal with this question is to better understand how other people feel about these kind of schemes. Does your company have one? Does it motivate you? If not, how could it be changed so as to have a more positive effect?