Reward and Recognition

How to make Employees feel Valued

• If employee’s goals match with the company’s goals, engagement increases and there is a direct positive impact on bottom-line
• Instant recognition – mail, verbal, on the face, has a direct impact on motivation and hence on bottom-line
• Formal mentorship and sponsorship programs
• Acknowledgement of employee’s contribution towards any project or assignment on mail or public forum
• Quantify the rewards of employee engagement, gain cognitive surplus of the employees

How to make sure Rewards are Effective

• Employees are hitting their highs or not
• How much of negative conversation is happening around pay and other rewards
• Offer acceptance rate with respect to different jobs offered vis a viz. the market
• The initiatives are resonating with the expectations of the employees –  current and prospective
• Employees talk about the rewards around social media and tell a story about it, if not then there is a serious problem

In Summary

• Reward and recognition is personal; employees look for meaning in the job than just money
• Connecting the contribution of employees towards the bigger cause of the company has a great value for the employee