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Reward and Recognition

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
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