Employee Rewards, Recognition, Engagement
An increasing number of organizations have started realizing that the frequency of employee recognition matters for the overall success of their rewards and recognition programs and helps them maximize the business benefits from them.
Organizations need to think beyond standard and popular options for rewards to ensure success of employee rewards programs. The freedom of choice when it comes to employee rewards is critical for deriving the desired result from such programs.
In post-COVID world, where employee engagement and productivity levels are likely to see a significant decline due to the negative news in the business environments; organizations need to work on various initiatives to boost employee motivation.
Understanding the key elements of a perfect employee recognition program is the first and the most important step that organizations need to take in the direction of developing such a system that is effective in motivating their employees and driving business growth.
Lack of an employee recognition program can hurt an organization as it is one of the key elements of motivating and engaging employees. Hence, all organizations implement a robust employee recognition program in line with their business needs and expectations of their workforce.
This step-by-step guide on how to set up an employee recognition program is based on best practices from several organizations that have successfully implemented employee recognition programs. Each of these steps plays a critical role in laying a strong foundation for building a recognition driven organization culture that promotes innovation, performance and business growth.
Deciding on the types of awards to include and the criteria for each of them are the critical aspects of designing the employee rewards and recognition program of an organization. The types of awards chosen should reflect the objectives of the program.
Organizations should come up with innovative and engaging names for their employee rewards and recognition programs. These names should be reflective of the culture of the organization and should stick in the minds of the employees. Getting such an award should make the employee feel special for a long time. So, it’s worth the effort!
Recognizing employees for their contribution towards community service goes to show that the organization too cares for the greater good of society and encourages its employees to be directly involved in such initiatives. This goes one step beyond just contributing financially to agencies who work with social causes.
The ability of an organization to stride through difficult times depends a lot on how it can garner the support, dedication and commitment of its employees – recognizing them in a timely and effective manner is definitely a key step towards it.