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employee reward and recognition programs - the Corporate Pat on the Back
Employees aren’t always motivated by big fat paychecks and there is enough research done to back this up. Employees, when it boils down to it, crave for much simpler things than salaries. A book by Bob Nelson called, "1001 Ways to Reward Employees" Nelson spent painstaking years in researching all kinds of companies and also studied the behavior of various employees within those companies to gauge what motivates them and what doesn’t. It was found that is a huge disparity between what managers think motivates people and what those same employees say motivates them and the difference is indeed simple -- managers think that the employees are motivated just by their pay packets, but the employees don’t think that way, all they ever needed was recognition of their efforts and a word of appreciation.
Now this disparity might seem harmless at the outset but can tear the company’s organizational structure in to a million shreds if something is not done about it. Managers have to be trained to be more approachable and grant more decision making powers to the employees as a primary step towards a thorough, robust and practical Employee Rewards and Recognition Program.
For a lot of companies today, these reward and recognition programs are a cornerstone for effective employee retention and training. They are a crucial link that keeps the fabric of the business together and it is through an effective implementation of such a program that there could be any chances of keeping the employees happy, satisfied and develop a sense of being a part of something larger.
Here’s what a well-planned and effective Rewards and Recognition Program can do:
Brings about motivation: Reward and Recognition programs really motivate a lot of well-deserving, hard-working and productive people and gives them a feeling of being appreciated and instills a seed of loyalty in them. They would want to do much better and be all the more appreciated.
Propagates healthy Competition: Each time an employee is appreciated through a Reward and Recognition program, the employee’s colleagues are watching it. It would lead to a feeling of healthy competition and the others might just be pushed enough to replicate the success of the employee being appreciated.
Increase profits: Happy employees lead to happy bottom lines. Employees who are reportedly having fun at work and those who are always appreciated for their commendable efforts have very high levels or motivation and productivity which can translate to better profits for the company.
Build Brands: A company known for its consistent Reward and Recognition programs and a lot of other such programs might just make it the best place to work in. This in turn leads to effective brand building.
One must realize that just implement a reward and recognition program when you felt like it when you thought you should “try” isn’t an appropriate strategy. It is has to be a core belief in the organization and has to be followed and implemented like it was a religion.
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