Creating a culture based on employee rewards and recognition can provide a significant impact on the business by the way of enhanced productivity and better growth. Despite the differences, the core idea behind every such program is to acknowledge and appreciate the good work of employees and motivate other members of the workforce to replicate such behaviour. The G.I.V.E. Model of Employee Rewards and Recognition provides a generalized model that incorporate the key principles of employee rewards and recognition.
Choosing the Best Method of Employee Recognition
As mentioned before, every organization adopts unique strategies and methods to recognize and appreciate their employees in the most effective manner. Hence, it is not easy to define or choose the best ways to recognize employees. At the same time, organizations that are developing recognition programs for their employees need to consider the fact that certain methods work better than others irrespective of the type of organization.
The best examples of these are Peer-to-Peer recognition and the G.I.V.E. model of recognition. The G.I.V.E. model is based on best practices already followed in successful business organizations.
The G.I.V.E. Model of Employee Rewards and Recognition is based on a combination of recognition strategies that have proven highly effective in enhancing employee motivation and engagement levels across different work environments and organizational cultures.
G.I.V.E. is the abbreviated form of Genuine, Immediate, Valued and Everyone.
The four key parameters of this model are discussed in brief as follows.
‘Genuine’ means that the recognition should be offered fairly to deserving employees rather than those favored by the managers for different reasons. Unless the recognition is genuine, it cannot provide the desired results and hence becomes totally ineffective for both the organization and its employees.
The best way to avoid this from happening is to ensure that the recognition is based on specific criteria related to the performance, behavior or even any specific achievements or initiatives by the employees. This adds to the credibility of the process and makes it more transparent and unbiased.
Providing immediate recognition is as important as ensuring that it is offered genuinely. In fact, it has become essential for organizations to do away with monthly and yearly recognition events and replace them with something that is more spontaneous and prompt.
Any delays in employee recognition and appreciation can make the recipients feel disappointed and undervalued. It can also breed a sense of distrust and dissatisfaction among the employees and force them to seek other employment options. So rather, than waiting for a formal recognition event, it is advisable for organizations to encourage their managers to offer on-spot recognition to deserving employees in the form of verbal praise or even an appreciation e-mail or letter.
It is important for organizations to ensure that the recognition being given to employees has some value for them. This essentially means that the recipients should feel a sense of pride and achievement upon being recognized in the way they are.
Overlooking this important aspect can render the whole process worthless and even cause the employees to feel de-motivated. Hence, it is essential for managers to invest time and effort in learning about the interests and tastes of their employees. This information can prove critical in helping organizations to decide about the best way to recognize individual employees in a manner that they value the most.
In order to get the best results from an employee recognition program, organizations need to make sure that everyone is made aware of the program and the recipients of the recognition. This can be ensured by promoting the recognition event within the organization on internal (and maybe even external) social media.
Organizations may even permit and encourage their employees to share such updates on their personal social media accounts. Spreading the news far and wide can prove extremely motivating for the recipients.
While it helps to enhance the sense of achievement and happiness for the employee, it can also help in promoting the organization as a great prospective employer, which in turn can prove beneficial for attracting potential candidates with the right skills and expertise for key positions.
The G.I.V.E. model of employee rewards and recognition aims to maximize the benefits of employee recognition for organizations; and help them create a positive work culture where talent can be nurtured through a deeply ingrained sense of collaboration, teamwork, and availability of equal opportunities.
To stay updated on the latest HiFives blogs follow us on Twitter (@MyHiFives)