HiFives Industry Best Practices of Employee Rewards and Recognition covering different aspects of rewards and recognition policy, program design, program implementation, R&R technology, etc.
Understanding the key elements of a perfect employee recognition program is the first and the most important step that organizations need to take in the direction of developing such a system that is effective in motivating their employees and driving business growth.
It is clear that lack of employee recognition program can hurt an organization given that it is one of the key elements of motivating and engaging employees. Hence, organizations that haven’t set up such programs should necessary steps to address it and implement a robust employee recognition program in line with their business needs and expectations of their workforce.
This step-by-step guide on how to set up an employee recognition program is based on best practices from several organizations that have successfully implemented employee recognition programs. Each of these steps plays a critical role in laying a strong foundation for building a recognition driven organization culture that promotes innovation, performance and business growth.
Deciding on the types of awards to include and the criteria for each of them are the critical aspects of designing the employee rewards and recognition program of an organization. The types of awards chosen should reflect the objectives of the program.
Organizations should come up with innovative and engaging names for their employee rewards and recognition programs. These names should be reflective of the culture of the organization and should stick in the minds of the employees. Getting such an award should make the employee feel special for a long time. So, it’s worth the effort!
Recognizing employees for their contribution towards community service goes to show that the organization too cares for the greater good of society and encourages its employees to be directly involved in such initiatives. This goes one step beyond just contributing financially to agencies who work with social causes.
The ability of an organization to stride through difficult times depends a lot on how it can garner the support, dedication and commitment of its employees – recognizing them in a timely and effective manner is definitely a key step towards it.
The HiFives Team has vast experience of partnering with HR professionals from hundreds of organizations across multiple industry verticals and geographies. Based on these extensive interactions, the HiFives Team compiles a list of best practices of Employee Rewards and Recognition and other topics in HR Management and Technology and writes blogs on those topics. Those blogs are then published on the HiFives website. HiFives publishes at least 1-2 blogs every week on various HR related topics. The HiFives Team also write guest blogs for other blog platforms and websites relevant to the community of HR professionals.
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