Rewards And Recognition

Rewards and Recognition is a system where people are acknowledged for their performance in intrinsic
or extrinsic ways. Recognition & Reward is present in a work environment where there is appropriate
acknowledgement and appreciation of employees’ efforts in a fair and timely manner.

 How do you create a rewards and recognition program?

•Link Rewards with Business Outcomes

•Personalise Rewards

•Contain Clear Messaging

 What are the different types of rewards and recognition?

•Bonuses

•Variable Pay

•Stock Options

•Written/Verbal praise

 How do you promote recognition in the workplace?

One of the best ways to promote recognition in the workplace is to provide employees with
opportunities to learn and help them make themselves better at what they do. To take it a step further,
it will also be great to incentivize learning and rewarding those who have taken the time to focus on self-
improvement.

Here are some rewards and recognition ideas to get started

•Public appreciation

•Pampering packages

•Celebrating birthdays

•Sweat the little stuff

•Team celebrations

•Surprise them

 Why recognition is important in the workplace?

•Increase in productivity- Rewarding and recognizing tends to increase employee productivity in the
workplace. It makes them go the extra mile. Engagement at work stimulates a spirit of teamwork and
acts as a catalyst for high performance.

•Stimulating development and career progression of employees- Employees tend to do more when they
are recognized and rewarded for good work. It encourages development and career growth since it puts
the employee in the position to do more and elevate their work performance.

•A sense of satisfaction and morale- Reward and recognition cultivates a positive relationship between
employers and employees. The employer will benefit from an empowered employee delivering good
results. On the other hand, a recognized and rewarded employee will become confident and satisfied
with their work.

•A stronger employer brand- Employees talk and share experiences with those of other companies. A
company that recognizes and rewards employees builds a positive brand when its employees talk
positively about it.

 How to implement a reward system?

•Clarify Your Vision- Before you start implementing reward programs, you must be clear about what
they involve - Goals, Benefits, Cost.

•Build A Committee- A dedicated set of people should be appointed who will be responsible for the
implementation, managing, and establishment of reward programs.

•Define Clear Characteristics;

-The recognition should be timely. Recognition delayed is recognition denied. Delaying to appreciate top
performers only results in lessening of the impact of the recognition when it is eventually given.

-Recognition, just like motivation, should be frequent. It is only valid when handed out regularly.

-Recognition is more meaningful when distinct accomplishments get celebrated. Employees should
know that a certain amount or kind of performance will bring in praise.

•Define Clear Criteria- The key to meaningful recognition in the workplace is to set the criteria for
getting rewarded and appreciated.

•Ensure Successful Implementation- Once laid out, ensure the rewards program is being implemented
as per the plan.

 What is the relationship between reward and motivation?

Employees want fair compensation and benefits as much as they want meaningful and fulfilling work.
Part of what makes work more meaningful is recognition for a job well done, or more specifically,
frequent praise and awards for their efforts. A majority of employees infact consider rewards essential
to their happiness at work, meaning that employers have a responsibility to incorporate reward and
recognition programs into their companies if they want to attract and retain high performing employees.

 What is the best method to measure the success of a rewards & recognition (R&R) program in
an organisation?

One of the best ways to measure the success of an R&R program in an organisation is to seek direct
feedback from the employees. This can be done by sending out paper surveys after the program has
finished or preferably set up an online survey. By soliciting the feedback of employees, organisations can
gain a better insight into the views and opinions of the individual members of the workforce about the
employee rewards and recognition program.

Another effective way of measuring the performance of R&R programs is to measure the before and
after satisfaction levels of the employees. This can be done by conducting surveys where employees are
required to answer questions that can help organisations access the overall satisfaction level of the
members of its workforce as well as answering specific questions related to their views about the
organisation’s rewards and recognition practices.

 What are the common mistake to avoid while creating a R&R program?

•Lack of clarity in communication- Clear and precise communication is an important factor in

determining the success of any new rewards or recognition program. The criteria of the reward system
and what kind of behavior is being recognized must be clearly communicated to all the employees and
stakeholders.

•Outsourcing rewards- Organisation these days prefer to outsource their rewards programs to an
external agency or vendor and many times these agencies are unable to judge the needs of the
organisation.

•Non-existent or little promotion- A planned communication strategy such as pre-rollout

announcements, ongoing updates, etc are necessary for the success of an R&R program. Employees
receive countless emails daily so having a message that is meaningful and consistent is key