Such best practices can make the process of digital recognition a key part of the organizational culture. This in turn can boost employee happiness and motivation, and enhance the overall performance of the organization.
Organizations need to create traction for employee recognition programs among their workforce to derive the expected benefits. It is as important as designing and developing the program itself.
Organizations can build a culture of openness and transparency through employee recognition, which can in turn lead to higher productivity, innovation and business growth.
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.
It is extremely important that organizations shift their focus from pouring money into their employee rewards programs to ensuring their proper design and implementation.
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.
It is not just enough to design great employee rewards programs; knowing and overcoming the various challenges that hinder the efficient execution of such a program is the key to ensuring their long-term success and delivering the expected return on investment for the organization.
Non-monetary rewards are gaining more and more popularity with organizations They can offer better results than monetary awards in form of greater engagement, higher retention, and increased productivity.
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.