Understanding the key employee rewards and recognition trends in 2021 and beyond can help organizations put in place the right policies, processes, and systems to develop a highly motivated and committed workforce going forward.
Peer-to-peer and Manager recognition are the two main pillars of a successful employee recognition program.
They should be used in tandem by an organization to build a motivate and engage their workforce.
It is high time for traditional organizations to start implementing modern employee rewards and recognition practices to build a highly motivated and engaged workforce by attracting, engaging and retaining top talent and driving a higher level of business growth.
If managed properly, peer feedback can result in improved employee performance, better goal setting, more accurate training gap identification and successful career planning for the employees and organization.