There is no ‘one-size-fit-all’ solution to deciding on the most suitable types of award for an organization. It is the ‘horses-for-courses’ approach that works best – a combination of different award types to fit different situations within the organization.
Recognizing customer service representatives should be high on every organization’s agenda.
They form a critical part of the workforce that can make or break the customer experience, which in turn can play a key role in the growth and success of the business.
Hence it is our recommendation that awards especially those in the category of spot awards should be given based on the immediate achievements and not the past track record of the employees.
Awards should be treated as awards – it absolutely okay to reward underperformers for their achievements if they meet the criteria!
The key trends in HR in 2021 will be driven largely by the happenings in 2020.
These have accelerated the long-term changes in HR that were already underway for the last several years.
Organizations that are able to understand and leverage these changes quickly can gain a significant competitive advantage over their industry peers and demonstrate higher business growth.
These are just a few of the top reasons why employee rewards and recognition programs fail.
Leaders and HR must avoid these pitfalls to keep the programs alive and kicking, to keep employees motivate and productive at the workplace.
Organizations have tried everything for employee rewards over the years – from trophies, company branded merchandize, durables, electronics, holiday packages, gift vouchers, and even cash.
What is the best form of employee rewards?
Whether the winner takes all phenomenon is fair or not is the question to be asked.
It seems only logical that the highest performing employees would end up getting the maximum recognition and rewards.
Organizations can develop employee recognition programs that are aligned to their business objectives, organizational culture and workforce profile; and drive the desired results.
Traditionally, regarded as a ‘no-brainer’ form of reward, cash rewards are falling out of favor of employees, reducing their impact on employee motivation. It is time for organizations to move away from the tradition of cash rewards and consider other options.
Organizations can need to take implement these measures to make employees feel valued. They can build a highly engaged, self-motivated, and completely dedicated workforce to drive business growth and profitability.