Employee Rewards, Recognition, Engagement
Festival gifting is an important activity for any organization looking to build a stronger connects with its employees. This guide to festival gifting for employees can help organizations manage the process smoothly with minimum administrative overheads and operational hiccups.
Adopting creative and low-cost ways to reward employees helps in creating a highly motivated workforce committed towards ensuring organizational growth and success with minimal budgets.
Selecting an employee rewards system is a high-involvement decision just like buying a car. Hence, organizations need to proceed step-by-step with the decision-making by considering all possible factors to ensure that they select a system that best fits their requirements and budgets.
Organizations need to understand that successful employee reward programs do not need hefty budgets; what is required is an efficient and effective reward system that ensures that employees are rewarded in a meaningful way for their good performance without any delay.
A well-developed, successfully launched, and efficiently managed employee referral program can help organizations gain easy access to a vast and untapped talent pool of potential candidates and hire them faster and a lower cost.
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.
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!