Employee rewards and recognition can play a pivotal role in initiating a change in the organization’s culture.
Organizations should include behavior or value-based recognition in their employee programs in addition to the general outcome based recognition.
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 dynamics of keeping employees engaged and motivated have changed significantly over the past several years.
One of the biggest changes in this context has been the growth in the importance of intrinsic rewards, which are increasingly replacing material and monetary rewards.
The importance of having a highly motivated workforce cannot be overlooked by any organization.
Hence, it is not surprising that most organizations today strive to keep their employees highly motivated and engaged.
The implementation of an effective employee recognition program can drive cultural change in an organization over time. Such cultural changes can provide long-term benefits for an organization and fuel business growth.