Employee reward and recognition is one of the key drivers of employee satisfaction and motivation in the workplace. In the present-day job landscape, if you need to attract and retain the best talent, you need an employee reward and recognition strategy that works. This has made companies pay closer attention to what the employees want and design strategies to prevent ‘talent bleeding’ in the competitive job market.
The only way an employee recognition program will work effectively is if employees view it as a fair and unbiased process. It is crucial that transparency is maintained within every level of the company and that employees understand how the reward recognition program works. Before implementation, these programs should also have set goals addressing the different areas to measure the effectiveness of the program.
A major mistake many employers make is thinking they know what their employees want. Pulse surveys and employee polls can help determine the best benefits for the recognition program and help in formulating taking their timely, relevant, and personalized interests into consideration. Employees also like the visibility while reaping the rewards of their work rather than receiving it through the back door. Garnering visibility can be the motivating factor for many employees to work harder and make their presence felt.
In most cases, the organizations might have a well-thought reward and recognition program but might fall behind in execution, resulting in inconsistency. This can tarnish the effectiveness and fairness of the program, which in turn will fail to serve the purpose.
To help organizations select the best Employee Reward and Recognition Solution Providers, we present to you HR Tech Outlook’s “Top 10 Employee Reward and Recognition Solution Providers - 2021.”
