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 employee rewards and recognition trends in 2021 and beyond can help organizations put in place the right policies, processes, and systems to develop a highly motivated and committed workforce going forward. Organizations that do so can reap business benefits not just in the near future but also in the long run.
Organizations need to clearly understand the importance of employee recognition for their business success. They need to develop effective programs that are aligned with their business objectives and the needs of their workforce.
Organizations need to invest time and effort to come up with innovative names for employee recognition programs as one of the first steps towards developing an effective employee recognition program. A unique, innovative, and relevant program name is likely to generate more interest and engagement in the program from the employees.
Recognizing customer service representatives should be high on every organization’s agenda as they form a critical part of the workforce that can make or break the customer experience, which in turn can play a key role in the growth and success of the business.
Hence it is our recommendation that awards especially those in the category of spot awards should be given based on the immediate achievements and not the past track record of the employees. Awards should be treated as awards – it absolutely okay to reward underperformers for their achievements if they meet the criteria!
The key trends in HR in 2021 will be driven largely by the happenings in 2020 that have accelerated the long-term changes in HR that were already underway for the last several years. Organizations that are able to understand and leverage these changes quickly can gain a significant competitive advantage over their industry peers and demonstrate higher business growth.
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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If you are an HR practitioner or an HR blog writer, you can contribute to the HiFives blog as a guest author. You can simply contact us for more details. You can write on any topic in HR related to employee rewards and recognition, employee motivation, talent management, learning and development, organizational culture, performance management and any other topic that may be relevant to our audience of HR professionals across the globe.