It is important for organizations to track the benefits of their employee rewards and recognition programs and to take action based on the gap between the actual and expected results.

Informal or fun awards can be an excellent and inexpensive way to drive greater employee engagement and create a positive, informal, and friendly atmosphere at work.

Organizations today are setting up employee recognition programs to enhance employee engagement and motivation levels for better productivity and business growth.

Employee recognition is both an art and a science that helps build a culture of appreciation within the organization.
This will ensure that employees think and act beyond their goal sheets and appraisals.

Technology-based employee recognition programs have become the need of the hour for organizations seeking effective and innovative ways to reward and recognize their employees and drive greater business growth.

Looking at the various employee recognition programs running in these highly rated companies, it is clear that linking the organization’s strategy and values to a successful recognition program is the key to success in the highly competitive markets. 

Keeping a few key principles in mind and with the right intent, organizations can develop effective rewards and recognition policies that deliver great results.

Reviving an ailing recognition program can be quite challenging, but when handled in a planned way, it can deliver the benefits and the return on investments for which it was designed.

It is high time for traditional organizations to start implementing modern employee rewards and recognition practices to build a highly motivated and engaged workforce by attracting, engaging and retaining top talent and driving a higher level of business growth.

Despite conceptual differences, both employee recognition and appreciation play a critical role in keeping the employees engaged and motivated.
That is why organizations need to combine both of these to consistently motivate and get the best out of their employees.

The award certificate represents the acknowledgement of the employee's performance and efforts by the organization. At the same time, is aspirational and makes the employee feel valued and special.

Measuring success of employee recognition programs is critical to assess the return on investment in them. It also helps in improving these programs in terms of employee experience.

2020 as a year should see an increasing focus on meaningful employee rewards, recognition, and benefits across organizations.

It is critical that organizations integrate their employee recognition platforms with other apps to leverage the full benefits of the recognition programs and boost the performance and engagement of the workforce.

Organizations need to create traction for employee recognition programs among their workforce to derive the expected benefits. It is as important as designing and developing the program itself. 

Whatever the modus operandi, consistent and effective communication is critical towards building a successful employee rewards and recognition program. Only then the organization can reap its full benefits in form of a motivated and committed workforce.

Non-monetary rewards are gaining more and more popularity with organizations They can offer better results than monetary awards in form of greater engagement, higher retention, and increased productivity.

The importance of intrinsic rewards stems from the fact that they offer an effective and low-cost way for organizations to engage employees and derive longer-lasting benefits.

Building a work culture based on an effective employee recognition program can deeply impact the various levers of business growth and productivity.

The G.I.V.E. Model of Employee Rewards and Recognition aims to maximize the benefits from employee recognition for organizations; and help them drive productivity, create a positive work culture and nurture talent in the right way.