Recognition and reward in a company
A company cannot function successfully without both the leaders and employees as they are the core unit of the organization. Recognition and reward represent two fundamentally different mechanisms of human motivation, and we know that humans tend to perform according to how they are appreciated. Before establishing the program, we have to take note of some things: –
The purpose of the program
This program needs to be meaningful to both the leader and the employees. Being a leader, you need to collaborate with the subordinates to determine the goals and purpose of the program, enhancing fairness in the criteria used. An employee committee should also be involved in determining how the person/teams deserving should be selected. Eligibility and frequency should also be a consideration.
Types of rewards and recognition
Once we know the qualifiers of the program, we need to identify ways to reward them for a job well done. First, a bonus can be awarded to the person or team that accomplished a given goal. This can be done before or after salaries have been paid out to avoid confusion. Secondly, we can create a recognition board where the said person will get to be displayed as this will serve as a motivation to others to do better. Employees are also needed to know why the reward is being given and what is expected from them.
Conclusion
Knowing how the program is valuable and useful to employee performance, we must consider making it a powerful and effective figure for the work. Prioritizing the reward and recognition program will make the organization hugely successful as such is the purpose of having one. Employees will morale will increase, and in turn, the trust established within the community will create a conducive environment to work in and prosper.