Reward and Recognition September 27, 2017
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