Recession is affecting very many organizations across the world, making employee reward and recognition programs the forts ones to be sacrificed in order for a company to protect its bottom line. This may appear good on paper, but it can lead to some problems that can ruin the overall success of the business in the long term. Rewarding staff members is not limited to money bonuses, but also includes other non-money related awards for boosting productivity and work 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.
In a global economy that has many businesses competing for customers, a company must be able to properly compensate and motivate workers or risk being left behind the competition. It may also risk workers with knowledge of how the organization runs leaving for competitors.
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 yearning for recognition affects both the personal life of a person together with his professional life. Where that individual works does not have to be an unpleasant and stressful environment. By recognizing the hard work of workers and dully rewarding them, this can reduce the stress and difficulty found in the workplace. Such a worker who feels appreciated and loved will definitely put more effort to be productive, hence becoming an asset to the firm.
No one can deny that a recognition and rewards system in a company is imperative. Benefits to employees are not the only things that come with it, since the company also gains. Cartoons together with comic strips usually raw pictures of carrot stick dangling in front of a bull yoke to give them the motivation needed to move forward. The same principle is applied to benefits.
The farm owner who dangles the carrot has goals he wants to be achieved in his farm. He thus motivates the bull, which is some sort of an employee, to work harder, in the process benefiting since his goals will be accomplished in the process. With similar systems in a workplace, employees get rewarded for their effort, while the organization benefits in the long run.
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.
In a global economy that has many businesses competing for customers, a company must be able to properly compensate and motivate workers or risk being left behind the competition. It may also risk workers with knowledge of how the organization runs leaving for competitors.
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 yearning for recognition affects both the personal life of a person together with his professional life. Where that individual works does not have to be an unpleasant and stressful environment. By recognizing the hard work of workers and dully rewarding them, this can reduce the stress and difficulty found in the workplace. Such a worker who feels appreciated and loved will definitely put more effort to be productive, hence becoming an asset to the firm.
No one can deny that a recognition and rewards system in a company is imperative. Benefits to employees are not the only things that come with it, since the company also gains. Cartoons together with comic strips usually raw pictures of carrot stick dangling in front of a bull yoke to give them the motivation needed to move forward. The same principle is applied to benefits.
The farm owner who dangles the carrot has goals he wants to be achieved in his farm. He thus motivates the bull, which is some sort of an employee, to work harder, in the process benefiting since his goals will be accomplished in the process. With similar systems in a workplace, employees get rewarded for their effort, while the organization benefits in the long run.
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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