Employee Rewards, Recognition, Engagement
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.
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. Technology drives Successful Employee Recognition Programs.
Employee recognition has today become one of the most critical business processes for ensuring the success of an organization. That is why organizations are increasingly focusing on recognizing the hard work and achievements of their employees in a timely and
Keeping a few key principles in mind and with the right intent, organizations can develop effective rewards and recognition policies that can ensure the happiness and satisfaction of its workforce and result in greater business growth.
Reviving an ailing recognition program can be quite challenging, but when handled properly and in a timely manner, it can deliver the benefits and the return on investments for which it was designed.
Measuring success of employee recognition programs is critical to assess the return on investment in them made by organizations. It also helps in showing the genuine intent of the organization of improving these programs in the eyes of the employees, which in itself can prove to be a motivating factor for them.
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.
While salary, financial perks and benefits play a vital role in attracting top talent, their retention in the organization depends on the effectiveness of the employee rewards and recognition program to an extent – how their efforts and contribution are recognized and rewarded.
There is a debate among HR practitioners that employee rewards and recognition programs should be targeted only at entry-level employees. However, as mentioned in this article, it is best to adopt a comprehensive employee reward and recognition system across all levels of the organization.
Most great employee reward and recognition systems are not established overnight but these basic steps can help to move in the right direction. These steps may need to be modified as per the unique requirements of individual organizations to get the maximum benefits.