The Importance and Benefits of Employee Rewards and Recognition

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Presentation Transcript

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The Importance and Benefits of Employee Rewards and Recognition

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Your employees need to know that their efforts are valued and their contributions appreciated so that they can continue to work and perform at peak levels. Recognition of employees is an essential form of feedback that can make the difference between a satisfied, coherent team and a collection of disappointed people. The recognition should only take place if you feel like or have time. Although spontaneous gestures of appreciation and gratitude are good, a formal recognition program strengthens and rewards employees for behaviors and achievements that align with corporate goals.

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A formal recognition program is also fair, because it ensures that all employees receive the same awards for similar services. In other words, formal programs correct the natural tendency to focus only on stars Regardless of whether you’re developing a discovery program from scratch or tweaking an existing one, the following tips can help make your program more powerful:

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Let’s say you want to recognize employees for going beyond that. First, how do you define that? Let’s say you decide you have to work late into the night or at the weekend. Do you reward this effort for all projects or only for projects with high priority? How much extra time does a reward bring? If it’s a collaborative effort, does the group receive a single prize or give each member something? Define Performance Goals and Qualification Criteria It is also important to know why you recognize and support a particular behavior. Is practicing overtime a practice that you want to strengthen? They do not want to inadvertently reward work habits that may result from inefficiency, or send the message that employees need to work extra hours to get confirmation.

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Make Rewards Meaningful- Awards do not have to be monetary.  Designer awards , such as an elegant plaque on which an employee can point the desk – in front of employees and customers – may be far more meaningful and motivating than, for example, a gift card for a fancy restaurant. Also, remember that although immediate rewards are important, longer-term prices, such as career advancement, are often more important. Promotions can be the best reward of all

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Share the Praise and the P rizes- The formal recognition should be all-encompassing. For example, if you start a program for the accounting staff in your company, think about designing a similar program for the administrative staff. Each employee has the potential to contribute to better customer service and revenue, and should therefore be eligible for formal recognition. Design your program in such a way that everyone has the recognition, even if a certain person is not a top-class member of the team.

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Keep it Real- When you recognize the behaviors and benefits you need to recognize. Virtually all the tasks that people perform are celebrated. This reduces the impact of the recognition program. Employees can stop trying because mediocrity and excellence are also rewarded. Rewards are only exemplary and not basic achievements. They set a standard that all employees aspire to. Show them that rewards are deserved and not forgiven.

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Engaging Employees- Asking your staff about the program will make it more effective. Ask them if they find the rewards you choose useful. You may want to involve your most experienced employees in decisions about strategies and performance measures. You get useful information on what it takes to deliver optimal performance. The more connected your team is to the program; the more likely you are to get rewards.

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Creating a program that encourages team members to use their knowledge and skills to truly transform the lives of their customers not only motivates employees, but the bottom line of your business reflects increased productivity and customer service. “Awards and Trophies” is one of the best  trophy manufacturers in Delhi . “We are one of the leading manufacturers and suppliers of high-end designer awards and trophies, as well as a wide range of promotional items and trophies. The range includes trophies and awards in acrylic, plaques, crystal, table tops and other corporate gifts in different sizes, shapes and colors available.

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