Employees not only want good pay and benefits; they also want to be treated fairly, to create a considerable contribution to the organization through their work, and to be valued and appreciated for their efforts. to point out appreciation, many employers implement ongoing recognition programs designed to thank employees for a range of achievements.
Common Rewards & Recognition Programs
- Length of service, generally in five-year increments.
- Exemplary one-time achievement, often with an on-the-spot cash award or additional paid day without work.
- Noteworthy performance over a period of your time, often for workers who add quality to the work process or product or who provide superior customer or client service.
Although organizations typically recognize employees’ length-of-service milestones and instances of a strong individual or team performance, many organizations are getting down to target other, less traditional areas for recognition.
Why do Employers need Rewards & Recognition Programs?
- The Ability to Manage or Champion Change.
- Innovation.
- Systems improvements.
- Customer or Client Retention.
- Morale-Building.
- Talent Acquisition and Retention.
- Market Diversification.
- Technological Advances.
- Significant Personal Development.
- Actions that embody the organization’s core values.