With the recession that is affecting firms across the nation, employee reward and recognition programs are often the first areas to be done away with or neglected in order to protect its bottom line. On the balance sheet this may look good, but it is capable of being disastrous to retention, hiring and the overall business long-term success. Rewards and recognitions are not restricted to monetary limits, but include numerous non-monetary practices that can enhance productivity and morale.
Recognition and rewards are handed out when a company wishes to motivate its employees into achieving a certain goal, or when workers have accomplished a particular organizational objective. These rewards vary in definitions but still convey a similar idea of motivating and distinguishing employees. They can be awarded at anytime, specifically at the start, middle or end of an organizational provided they align the incentives with a companys goals and missions. When properly implemented, recognitions and rewards assist in aiding a firm in the pursuit of operational and strategic goals.
Considering the current global economy that sees numerous businesses competing for consumers, an organization must be capable of properly motivating and rewarding workers. Failure to do this will mean to risk being overwhelmed by the competition. In addition, it may risk valuable employees resigning to join other rival organizations.
With the rewards, it is important to understand the human need for recognition and acceptance, how they help in meeting this need for motivation and acceptance, and the merits of having the program in place. It is also vital to know the benefits associated with the system together with the various types of non-monetary and monetary aspects of such a system.
The need to be accepted affects an employees personal life, then carried over with them to their workplaces. Where they work does not have to be a place that is stressful and unpleasant. Showing workers some affirmation and acceptance can reduce and even have a negative effect on stress and difficulties. Rewards and recognition are two of quite many ways of showing gratitude in a workplace. An employee who feels he or she is accepted is one who is free to engage and assist creatively in achieving the organizations mission and vision.
No one can dispute the fact that a recognition program for an organization is imperative. The benefits of such programs are not felt by the staff members only, since the organization also get some gains. There are pictures usually printed by cartoonists that show a carrot stick being dangled in front of a bull pulling a yoke. The carrot is meant to motivate the ox to work harder. The same principle works on benefits.
The farmer has goals to be accomplished but must find means of stimulating the work of his help. An executive or manager offers a desirable award to workers to keep them moving forward and motivated. By being offered a carrot, the oxen yoke gets an award while the farm owner gets his goals accomplished in time. With the program, workers get rewarded for performing the right work while the firms goals are met.
The first and main benefit is for a companys employees. In economic times that are constantly changing, forgetting that workers are a companys most vital assets is possible. They therefore need reward and recognition programs to show their value.
Recognition and rewards are handed out when a company wishes to motivate its employees into achieving a certain goal, or when workers have accomplished a particular organizational objective. These rewards vary in definitions but still convey a similar idea of motivating and distinguishing employees. They can be awarded at anytime, specifically at the start, middle or end of an organizational provided they align the incentives with a companys goals and missions. When properly implemented, recognitions and rewards assist in aiding a firm in the pursuit of operational and strategic goals.
Considering the current global economy that sees numerous businesses competing for consumers, an organization must be capable of properly motivating and rewarding workers. Failure to do this will mean to risk being overwhelmed by the competition. In addition, it may risk valuable employees resigning to join other rival organizations.
With the rewards, it is important to understand the human need for recognition and acceptance, how they help in meeting this need for motivation and acceptance, and the merits of having the program in place. It is also vital to know the benefits associated with the system together with the various types of non-monetary and monetary aspects of such a system.
The need to be accepted affects an employees personal life, then carried over with them to their workplaces. Where they work does not have to be a place that is stressful and unpleasant. Showing workers some affirmation and acceptance can reduce and even have a negative effect on stress and difficulties. Rewards and recognition are two of quite many ways of showing gratitude in a workplace. An employee who feels he or she is accepted is one who is free to engage and assist creatively in achieving the organizations mission and vision.
No one can dispute the fact that a recognition program for an organization is imperative. The benefits of such programs are not felt by the staff members only, since the organization also get some gains. There are pictures usually printed by cartoonists that show a carrot stick being dangled in front of a bull pulling a yoke. The carrot is meant to motivate the ox to work harder. The same principle works on benefits.
The farmer has goals to be accomplished but must find means of stimulating the work of his help. An executive or manager offers a desirable award to workers to keep them moving forward and motivated. By being offered a carrot, the oxen yoke gets an award while the farm owner gets his goals accomplished in time. With the program, workers get rewarded for performing the right work while the firms goals are met.
The first and main benefit is for a companys employees. In economic times that are constantly changing, forgetting that workers are a companys most vital assets is possible. They therefore need reward and recognition programs to show their value.
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If you would like to know more about reward and recognition programs come to Concept Rewards & Recognition. For more on our Incentive and Recognition solutions visit us online today at http://conceptrewardsandrecognition.com.
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