Organizations need to clearly understand the importance of employee recognition for their business success. They need to develop effective programs that are aligned with their business objectives and the needs of their workforce.
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. And honestly, this is hardly rocket science.
Employee rewards in modern-day organizations have been evolving over the years – it has become more of an art than a science.Organizations have tried everything from trophies, company branded merchandize, durables, electronics, holiday packages, gift vouchers, and even cash. What is the best form of employee rewards?
It is quite clear that a well-defined and properly thought through rewards and recognition program beyond the traditional sales incentive systems are essential for ensuring the growth and success of a sales-driven organization. Such a program can ensure a higher level of satisfaction and motivation of their sales representatives and deliver business impact well beyond just the sales numbers!
aking the above factors into consideration can help start-up organizations develop a truly efficient and result-oriented rewards program that enhances the overall workforce performance and motivation quite significantly
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.
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.
Overall, employee rewards and recognition programs that are well designed and well executed can provide significant benefits to the organization to justify the investments made into the program by the management. However, it is important to keep these objectives in mind while the program is being designed and implemented without any ambiguity.
Keeping a few key principles in mind and with the right intent, organizations can develop effective rewards and recognition policies that can ensure the happiness and satisfaction of its workforce and result in greater business growth.
Reviving an ailing recognition program can be quite challenging, but when handled properly and in a timely manner, it can deliver the benefits and the return on investments for which it was designed.