A PROJECT REPORT ON

EXAMINING THE EFFECTIVENESS OF EMPLOYEE RECOGNITION AND

REWARD PROGRAM

A PROJECT SUBMITTED TO

UNIVERSITY OF MUMBAI
FOR PARTIAL COMPLETION OF THE DEGREE OF
BACHELOR OF MANAGEMENT STUDIES (BMS)

BY
KUNDAN PASWAN

UNDER THE GUIDENCE OF

HEMALI PATEL

SMT. DEVKIBA MOHANSINHJI CHAUHAN COLLEGE OF COMMERCE AND

SCIENCE

LIONS EDUCATION CAMPUS, S.D MARG, SILVASSA – 396230

MARCH 2023
 SMT. DEVKIBA MOHANSINHJI CHAUHAN COLLEGE OF
COMMERCE & SCIENCE
LIONS EDUCATION CAMPUS, S.D MARG, SILVASSA – 396230

CERTIFICATE

This is to certify that Mr. KUNDAN PASWAN worked and duly completed her project
work for the degree of Bachelor of management studies under the Faculty of Commerce
in the subject of Commerce and his project is entitled, “EXAMINING THE
EFFECTIVENESS OF EMPLOYEE RECOGNITION AND REWARD
PROGRAM” under my supervision. I Further certify that the entire work has been done
by the learner under my guidance and that no part of it has been submitted previously for
any Degree or Diploma of any University. It is his own work and facts reported by her
personal findings and investigation.

Name and Signature of

Ms. HEMALI PATEL

Date of submission
 DECLARATION

This is to certify that Mr. KUNDAN PASWAN hereby declare that the work embodied
in this project work entitled,

“EXAMINING THE EFFECTIVENESS OF EMPLOYEE RECOGNITION AND

REWARD PROGRAM” forms my own contribution to research work carried out under
the guidance of Ms. HEMALI PATEL. It is a result of my own research work and has not
been previously submitted to any other University for any Other Degree/ Diploma to this
or any other University.

Wherever reference has been made to previous works of others, it has been clearly
indicated as Such and included in the bibliography.

I, here by further declare that all information of this document has been obtained and
presented in accordance with academic rules and ethical conduct.

Name – KUNDAN PASWAN

Place – Silvassa

Signature

Date -
 ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so numerous and the depth is
so Enormous.

I would like to acknowledge the following as being idealistic channels and fresh
dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do this
project.

I would like to thank my Principal, Dr. Seema Pillai mam providing the necessary
facilities for completion of this project.

I take this opportunity to thank our, for her moral support and guidance.

I would also like to express my sincere gratitude towards my project guide Ms. HEMALI
PATEL MA’AM, whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various reference books
and magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me
in the Completion of the project especially my Parents and Peers who supported me
throughout my project.
SR NO.
INDEX PAGE NO.

1. Introduction
2. Research and methodology
3. Literature review
4. Data analysis
5. Conclusion & suggestion
6. Sources
7. Annexure
INTRODUCTION
Examining the Effectiveness of Employee Recognition and Reward
Programs

Employee recognition and reward programs refer to initiatives designed to

acknowledge and appreciate employees' contributions, efforts, and achievements in the
workplace. These programs aim to create a positive work environment that motivates
employees to perform at their best and increase their job satisfaction. Recognition and
rewards can take various forms, such as verbal praise, bonuses, promotions, public
recognition, or gifts. it is crucial for organizations to understand the importance of
implementing effective recognition and reward programs and continuously improving
them to meet employees' needs and expectations.
Employee rewards and recognition have become a critical component of every successful
business in today’s date. Its unique way of adding value to your employees’
achievements is what made it popular. And HR leaders are trying their best to leverage it
further through new rewards and recognition ideas. The concept of giving out accolades
and rewards has been there for ages. When an individual is acknowledged for their good
deed, they feel elated. This inspires them to keep getting better and binds them to greater
goals.

According to a survey conducted by, Happiness study, 58% of respondents said that
receiving even a simple “Thank you” or “Great Job” regularly from their managers
positively impacted their morale at work.

Employee recognition and reward programs have become increasingly popular in recent
years as organizations look for ways to motivate and engage their workforce. These
programs are designed to acknowledge and celebrate the contributions of employees, and
to create a culture of appreciation and recognition within the organization. While these
programs can be effective in boosting employee morale and motivation, it is important to
examine their effectiveness to ensure that they are achieving their intended goals.
One of the key factors in the effectiveness of employee recognition and reward programs
is the design of the program. The program should be tailored to the specific needs and
preferences of the employees, and should be aligned with the organization's goals and
values. For example, if the organization values innovation and creativity, the recognition
and reward program should include opportunities for employees to share their ideas and
be recognized for their contributions to the organization's innovation efforts.

Another important factor is the communication and implementation of the program. The
program should be clearly communicated to all employees, and should be implemented
consistently and fairly. This helps to ensure that all employees understand the
expectations and criteria for recognition and rewards, and that the program is seen as a
fair and equitable process.

In addition, the effectiveness of the program can be measured through regular feedback
and evaluation. This can include employee surveys, focus groups, and other forms of
feedback to gauge the effectiveness of the program and identify areas for improvement.
This feedback can also be used to recognize and reward employees who have contributed
to the success of the program.

Finally, it is important to consider the overall impact of the program on employee

motivation, engagement, and retention. While employee recognition and reward
programs can be effective in boosting morale and motivation, they should be seen as part
of a larger strategy to create a positive and supportive work environment. This includes
providing opportunities for professional development, creating a culture of open
communication and feedback, and promoting work-life balance.
employee recognition and reward programs can be effective in motivating and engaging
employees, but their effectiveness depends on the design, communication, and
implementation of the program. Regular feedback and evaluation can help to identify
areas for improvement, and the overall impact of the program on employee motivation,
engagement, and retention should be considered as part of a larger strategy to create a
positive and supportive work environment.

Recognition can take many forms, such as verbal praise, a bonus, a promotion, or an
award ceremony. Numerous studies have been conducted to explore the impact of
employee recognition on various outcomes, including employee engagement, job
satisfaction, and productivity.

organizations with effective recognition programs have higher employee engagement and
retention rates. These organizations also report lower turnover rates and higher customer
satisfaction scores

“ If you don’t create a great, rewarding place for people to work, they won’t do great
work. “
~Ari Weinzweig
 DIFFERENCE BETWEEN REWARDS AND RECOGNTION

While you will find “rewards” and “recognition” being used interchangeably with each
other, it is anything but the same.

To utilize both efficiently, we must know how they differ from each other.

Rewards are transactional, while recognition is relational

Generally, organizations set up a system where employees accomplish x to earn y. For

example, if someone in sales hits their goal, they might get tickets to a sporting event. Or
if the company hits their yearly goals, every employee might get an end-of-year bonus.

Rewards can be a great way to encourage employees to give your organization their A-
game and can be an incentive for people to want to work for your company. However,
you should be careful to not create a culture at your company where employees feel
entitled to rewards. Rewards should be reserved for exceptional work and achievement.
Owens Corning is an American company that develops and produces insulation, roofing,
and fiberglass composites and related materials and products. It is the world's largest
manufacturer of fiberglass composites. It was formed in 1935 as a partnership between
two major American glassworks, Corning Glass Works and Owens-Illinois. The company
employs approximately 19,000 people around the world. Owens Corning has been a
Fortune 500 company every year since the list was created in 1955. The Pink Panther
acts as the company's mascot and appears in most of their advertisements

In terms of financial performance, Owens Corning has seen steady growth over the years,
with 2021 revenues of $8.2 billion and a net income of $582 million. The company also
has a strong presence in global markets, with operations in 33 countries and over 19,000
employees.

The company held its initial public offering on the New York Stock Exchange in 1952. In
1955, Owens-Corning purchased land for a research and testing facility near Granville,
Ohio. Also in 1955, Owens-Corning made the first Fortune 500 company list. The
company has been on the Fortune 500 list every year since its creation.
 OUR APPROACH

We began our materiality journey in 2013 with interviews and surveys of internal and
external stakeholders, as well as gathering additional inputs annually through 2015. In
2015, we completed an updated overall materiality assessment, and iteratively improved
and supplemented this assessment through 2018. In 2019 we took the latest step in our
approach to materiality, conducting a fully new company-wide assessment, in which we
engaged with over 400 internal and external stakeholders, called upon data analysis
software tools, and conducted thorough reviews of peers, trends, and best practices to
generate our new material topics and materiality matrices.
 OUR SUSTAINABILITY EFFORTS

The sustainability issues that our stakeholders believe we can and should make a positive
difference serve as a guide for our efforts in three broad areas: expanding our product
handprint, reducing our environmental footprint, and enhancing our social handprint.
These interconnected issues are the focus of our ambitious sustainability goals.

Product Sustainability - As we continue to innovate throughout our businesses —

Insulation, Roofing, and Composites — we know we must do so in a way that has the
least negative impact on the planet and its people. That means ensuring that our products
are engineered to be sustainable, from their development and manufacturing through their
use and past their end-of-life

Environmental Sustainability - To be a net-positive company, our positive impacts must

far outweigh our negative impacts. We’re proud of the progress we’ve made in shrinking
the negative impact of our operations, but there’s much more to do, including sourcing
energy and water, reducing our air emissions, and preventing waste from ending up in the
landfill.

Social Sustainability - Net-positive means more than working for a healthy planet. Our
aspiration also drives our work to support healthy people and thriving communities. We
recognize that with growth comes responsibility, and as a global company, we are
positioned to be a force for good for the people who are touched by our company.
 COMPANY HISTORY

Owens Corning is a global building materials company that was founded in 1938 by two
individuals, Corning Glass Works and Owens-Illinois Inc. The company initially focused
on the production of fiberglass insulation, which had been developed in the 1930s by a
Corning Glass Works scientist named Dale Kleist.

During World War II, Owens Corning shifted its production to support the war effort,
producing materials such as airplane parts and insulation for ships and submarines. After
the war, the company resumed its focus on building materials and expanded into new
markets, such as roofing shingles, glass-fiber reinforcements, and composites.

ROOFING SHINGLES GLASS FIBER

Throughout its history, Owens Corning has been committed to sustainability and
environmental stewardship. In the 1970s, the company began implementing energy
conservation and waste reduction measures in its production facilities. In the 1990s, it
launched a sustainability initiative that focused on reducing greenhouse gas emissions,
conserving resources, and promoting product stewardship.

Owens Corning has implemented a range of sustainability programs and initiatives across
its business units. For example, the company's insulation products are designed to help
reduce energy usage and improve building energy efficiency, while its roofing products
are made with recycled materials and designed for long-lasting durability.

Owens Corning also invests in sustainable innovation and research, such as developing
new, more sustainable production processes and exploring the use of renewable energy
sources.
Owens Corning has a long-standing commitment to sustainability and environmental
stewardship. The company has set ambitious sustainability goals to reduce its
environmental impact and promote sustainable practices across its operations.

Overall, Owens Corning's commitment to sustainability and environmental stewardship is

an important aspect of the company's business strategy and reflects a broader industry
trend towards more sustainable and responsible practices.
 PRODUCTS

In 1955, Owens-Corning introduced its Perma-Ply roofing material for built-up room
insulation covering. The company created its first all fiber (AF) fiberglass wool in 1956.
To distinguish its product, the company dyed their insulation pink by adding red dye to
the AF wool. However, considering that the coloring made the insulation look pink, the
company was concerned that the color would discourage the predominantly male-
oriented market away from the material. As such, they decided to remove the coloring
from their insulation, only to receive customer requests for the coloring to be restored.
The company resumed the coloring in the face of such customer interest to the point of
licensing the United Artists cartoon character the Pink Panther in 1979 as the product’s
mascot. Furthermore, the company trademarked the coloring in 1987, the first time a
color was used for that purpose.
 OWENS CORNING COMPANY TIMELINE (KEY EVENTS)

1935: Corning Glass Works scientist Dale Kleist develops fiberglass insulation

1938: Owens Corning is founded as a joint venture between Corning Glass Works and
Owens-Illinois Inc.

1941-1945: Owens Corning shifts production to support the war effort, producing
materials such as airplane parts and insulation for ships and submarines.

1950s: Owens Corning expands into new markets, including roofing shingles and glass-
fiber reinforcements for plastics and composites.

1965: Owens Corning acquires Fiberglas Canada and expands into the Canadian market.

1970s: Owens Corning launches its first sustainability initiative, focused on reducing
energy usage and waste.

1980s: Owens Corning acquires additional building materials companies and expands its
operations globally.

1990s: Owens Corning launches a new sustainability initiative, focused on reducing

greenhouse gas emissions and promoting product stewardship.

2000: Owens Corning files for bankruptcy due to asbestos-related liabilities.

2006: Owens Corning emerges from bankruptcy and begins implementing new strategies
to improve efficiency and streamline operations.

2010s: Owens Corning continues to expand its product portfolio and increase its focus on
sustainability, launching new initiatives such as its "2020 sustainability goals".

2012: Owens Corning is ranked 165th on a list of the top 500 technology innovators in
the United States, according to InformationWeek magazine. Of the manufacturing
companies on the list, Owens Corning was ranked ninth.
2013: Owens Corning makes the Fortune 500 list for the 59th consecutive year in 2012.
The company has been on the list every year since Fortune started the list.

2020: Owens Corning exceeds its "2020 sustainability goals" and sets new targets for the
future.
RESEARCH METHODOLOGY
IMPORTANCE OF EMPLOYEE RECOGNITION &
REWARD PROGRAMS

Improving employee morale, motivation, and productivity is crucial for any

organization as it can have a significant impact on the success and overall
performance of the business. Here are some reasons why it is important:

• Higher productivity: When employees are motivated and have high morale, they tend to
be more productive and produce better quality work. They are also more likely to take
initiative and look for ways to improve processes and procedures, which can lead to
greater efficiency and output.
• Better retention rates: When employees feel valued, engaged, and motivated, they are
more likely to stay with the company long-term. This can reduce turnover rates and help
the company retain its top talent.
• Increased employee engagement: Employees who are motivated and have high
morale are more likely to be engaged in their work. They take ownership of their
roles and responsibilities, feel a sense of pride in their work, and are more likely
to go above and beyond what is expected of them.
• Improved company culture: When employees are happy and motivated, it can
have a positive impact on the overall company culture. This can create a more
positive and supportive work environment, where employees feel valued and
respected.
• Enhanced customer satisfaction: Motivated and engaged employees are more
likely to provide excellent customer service, which can improve customer
satisfaction levels. This can lead to increased customer loyalty and a positive
reputation for the company.
• Fostering a positive company culture: Employee recognition and reward programs
can also help to foster a positive company culture, where employees feel valued
and appreciated.
 THE OBJECTIVE OF THE PROJECT

• The objectives of such programs can vary depending on the specific goals of the
organization, but some common objectives include:
• Boosting employee morale and motivation: Recognizing employees for their hard
work and accomplishments can help boost their morale and motivation, leading to
increased productivity and job satisfaction.
• Improving employee retention: Recognizing and rewarding employees can help
improve employee retention rates by creating a sense of loyalty and commitment
to the organization.
• Increasing productivity and performance: Employee recognition and rewards can
serve as a powerful incentive to improve productivity and performance.
• Fostering a positive work culture: By acknowledging and celebrating successes,
organizations can create a positive work culture that promotes teamwork,
collaboration, and excellence.
• Aligning employees with organizational goals: Recognition and reward programs
can be used to reinforce behaviors that align with the organization's goals and
values.
• Motivating employees to perform at their best: By recognizing and rewarding
employees for their achievements, organizations can motivate employees to
perform at their best and strive to achieve their goals.
• Improving employee engagement and retention: When employees feel appreciated
and valued, they are more likely to be engaged and committed to their work,
which can improve employee retention rates.
• Building a positive company culture: Employee reward and recognition programs
can help to foster a positive company culture by promoting a culture of
appreciation, teamwork, and high performance.

• Improving overall organizational performance: By encouraging employees to

perform at their best, employee reward and recognition programs can help to
improve overall organizational performance and achieve business goals.
 BENEFITS OF REWARDS AND RECOGNITION

Before we go ahead with the how and why of promoting an appreciative culture at work,
let's look back at the seven most distinctive benefits of rewards and recognition

• Company Culture - A company’s culture is the combination of a company’s

vision, goals, and ideologies for achieving the greater good.
• Competitive Edge - Rewards and recognition promote healthy competition among
employees. Employees try to bring their A-Game to work, and it is always
beneficial for the company.
• Improves Manager-Employee Relationships - Rewards programs give managers a
way to connect with the employees and convey their regards. It helps both parties
to bridge the gap between them.
• Boosts Team Spirit - When recognition (mostly peer-to-peer recognition)
becomes a norm in the company, it builds camaraderie and heightens team spirit.
• Empowers Employees - Recognizing employees inspires them to take autonomy
and ownership in their work. They take pride in their job and their contribution to
the success of the company.
• Employee Retention - Although many factors lead to an employee’s decision to
leave a company, employee satisfaction is a crucial one.
• Employer Branding - Recognition helps in building a strong brand identity.
Recognition fuels good relationships and helps to create a lively atmosphere at
work. It helps to promote employee advocacy subsequently.
• Increase employee motivation - Offering recognition and rewards for employee
performance will boost motivation so workers stay on track and maintain a
positive attitude.
• Boost employee retention - Satisfied, engaged employees are more likely to stick
around. One survey of HR professionals showed that 68% of them said that their
recognition programs positively impact employee retention.
 THE PURPOSE OF THE PROJECT

The purpose of an employee recognition and reward program is to acknowledge and

reward employees for their contributions, efforts, and achievements within an
organization. The main purpose of such a program is to improve employee engagement,
motivation, and retention by creating a positive work environment and fostering a culture
of appreciation.

Recognition and reward programs are designed to show employees that their hard work
and efforts are valued by the organization. By providing tangible rewards such as
bonuses, promotions, or gifts, employees are motivated to continue performing at a high
level, which can lead to increased productivity, better performance, and higher levels of
job satisfaction.

Employee recognition and rewards can be used to motivate employees to perform at their
best, as they strive to achieve their goals and earn recognition and rewards.

When employees feel that their hard work is being recognized and appreciated, they are
more likely to have high morale and job satisfaction, which can lead to increased
productivity and employee retention.
Employee recognition and rewards can help to promote a positive company culture by
encouraging teamwork, collaboration, and a culture of appreciation.

Employee recognition and rewards can help to retain top talent by showing employees
that their hard work and contributions are valued by the organization.

Ultimately, the purpose of an employee recognition and reward program is to create a

culture of appreciation and recognition, where employees feel valued, motivated, and
engaged, leading to a positive impact on the overall success of the organization.
 Scope of employee recognition and reward programs

Employee recognition and reward programs are designed to acknowledge and celebrate
the accomplishments of employees who demonstrate exceptional performance, behavior,
and/or achievements. The scope of these programs can vary depending on the
organization's goals, culture, and budget.

Here are some key areas that employee recognition and reward programs typically cover:

• Performance-based rewards: These rewards are based on an employee's

performance against specific metrics such as sales targets, quality standards, or
productivity goals. They may include bonuses, promotions, or other forms of
financial incentives.

• Behavior-based rewards: These rewards are given to employees who demonstrate

behaviors that align with the organization's values, such as teamwork, innovation,
or customer service. They may include non-monetary incentives such as extra
time off, public recognition, or access to training and development opportunities.

• Service-based rewards: These rewards recognize employees who have been with
the organization for a certain length of time, such as milestone years of service or
retirement. They may include plaques, certificates, or other symbolic gestures.
• Special recognition: These rewards are given to employees who go above and
beyond their job duties, such as volunteering for a company-wide initiative or
contributing to a major project. They may include personalized gifts, a public
announcement of their achievement, or special perks such as parking spots or
preferred seating.

• The scope of employee recognition and reward programs can also include the
frequency and timing of rewards, the criteria for eligibility, and the level of
involvement from management and employees in the nomination and selection
process. Ultimately, the goal of these programs is to motivate and retain high-
performing employees, promote a positive work culture, and drive organizational
success.
 Employee Recognition: Statistics and Research

When employees feel valued, they’re more engaged, motivated, and likely to go the extra
mile for their company. Organizations with formal recognition programs have 31% less
voluntary turnover than organizations that don't have any program at all. And they're 12x
more likely to have strong business outcomes. If leaders want to drive employee, team,
and business success, they need to prioritize employee recognition.

Aspects such as performance, goals, recognition, development, and manager

effectiveness are all inextricably linked to employee engagement. And recognition is one
of the top drivers of employee engagement.

In fact, our research found that when employees believe they will be recognized, they are
2.7x more likely to be highly engaged.
 Types of employee recognition

The “how” of recognition is very important. Every employee embraces recognition

differently. Some get a boost from public praise, while introverted workers prefer a subtle
or private gesture. After identifying the employee’s personality type, openly encourage
them through the types of recognition that mean the most to them.

Receiving positive feedback from a manager or higher up is a validation of good work.

Impressing a superior increases job security and the likelihood of a promotion or pay
bump. But sometimes it feels just as good to be recognized by a coworker, even from
someone lower on the org chart. Regardless of where it comes from, recognition feels
good.
Most recognition is given by a known party. There’s typically no reason to separate
recognition from the giver. But sometimes an anonymous shout-out or thank you card on
an employee’s desk can have just as much power. It removes the thought that the giver is
doling out recognition to seem like a team player rather than authentically expressing
appreciation.

As mentioned above, no two employees prefer recognition the same way. Some crave the
spotlight; others avoid it like the plague and would prefer subtle praise. Recognition
should be tailored to the preferences of each individual’s personality.
Recognition is often linked to metrics, such as hitting a sales goal or staying with an
organization for 20 years. But praise can also be lauded for working extra hours, going
above and beyond to aid a coworker, or for successfully organizing an awesome company
party.
EMPLOYEE RECOGNITION AND REWARDS PROGRAM IN
OWENS CORNING

Owens Corning has several employee recognition and reward programs that are designed
to acknowledge and celebrate the contributions of its employees and promote a positive
and engaging work environment.

One of the key recognition programs at Owens Corning is the "OC Star" program. This
program recognizes employees who demonstrate exceptional performance and embody
the company's values of safety, integrity, customer focus, and sustainability. Employees
can be nominated for the OC Star award by their peers, managers, or customers, and
winners receive a certificate of recognition and a monetary award.

In addition to the OC Star program, Owens Corning has other recognition initiatives such
as the "Circle of Excellence" program, which recognizes employees who have made
significant contributions to the company's success, and the "Leadership in Action"
program, which recognizes employees who demonstrate leadership qualities in their
work.

Owens Corning also offers a range of reward and incentive programs to motivate and
retain employees. These include competitive salaries and benefits packages,
performance-based bonuses, and stock options. The company also offers a tuition
reimbursement program to encourage employees to pursue further education and
professional development.
Overall, Owens Corning's employee recognition and reward programs are designed to
create a positive and engaging work environment and promote a culture of excellence and
continuous improvement. By recognizing and rewarding the contributions of its
employees, the company aims to foster a sense of pride and commitment among its
workforce, which can ultimately drive its success and growth .
RESEARCH DESIGN IN EXAMINING THE EFFECTIVENESS OF
EMPLOYEE RECOGNITION AND REWARD PROGRAMS

Owens Corning, like many companies, likely uses a mixed-methods approach to research
design and evaluation, involving both quantitative and qualitative data collection and
analysis methods. They may use various methods, such as surveys, interviews, focus
groups, performance data, and case studies to gather information about their employee
recognition and reward programs.

For instance, they may conduct surveys to collect quantitative data on employee
satisfaction and engagement with recognition and reward programs. The surveys may ask
employees about their experiences with the program, including the types of rewards
offered, the frequency of rewards, and the perceived fairness of the program.

In addition to surveys, Owens Corning may conduct interviews and focus groups with
employees and managers to collect qualitative data on the impact of recognition and
reward programs on employee motivation and performance. These interviews may
explore the specific types of rewards that employees find most motivating, as well as the
factors that contribute to the success or failure of the program.

Performance data, such as sales figures, productivity metrics, or customer satisfaction

ratings, may also be used to assess the impact of recognition and reward programs on
employee performance. This data can be compared over time to identify trends and
patterns in performance and assess the effectiveness of the program in achieving its goals.
Lastly, Owens Corning may conduct case studies to explore the impact of recognition and
reward programs in specific organizational or contextual settings. These studies may
involve in-depth interviews with employees and managers, as well as an analysis of
performance data and other relevant metrics.

METHODS

Employee recognition and reward programs typically use a mixed-methods approach to

research design and evaluation, involving both quantitative and qualitative data collection
and analysis methods. The following are the common research methods used in employee
recognition and reward programs:

SURVEYS

Surveys are often used to collect quantitative data about employee satisfaction and
engagement with recognition and reward programs. These surveys typically ask
employees about their experiences with the program, including the types of rewards
offered, the frequency of rewards, and the perceived fairness of the program.
When designing a survey for employee recognition and reward programs, it is important
to include questions that are clear, relevant, and easy to understand. Questions might
include:

• How satisfied are you with the recognition program?

• Have you received recognition through the program? If so, how frequently?
• How has the recognition program affected your motivation and job performance?
• Do you believe the recognition program is fair and consistent?
• Do you have any suggestions for improving the recognition program?

INTERVIEWS

Interviews with employees and managers are often used to collect qualitative data about
the impact of recognition and reward programs on employee motivation and
performance. These interviews may explore the specific types of rewards that employees
find most motivating, as well as the factors that contribute to the success or failure of the
program.
When conducting interviews for employee recognition, it is important to ask open-ended
questions that allow employees to provide detailed and honest feedback. Questions might
include:

• How do you feel about the recognition program?

• Have you received recognition through the program? If so, can you describe the
experience?
• How do you think the recognition program has affected your motivation and job
performance?
• Do you have any suggestions for improving the recognition program?

In addition to asking employees about their experiences with the recognition program, it
can be valuable to interview managers and other stakeholders to gain a broader
understanding of the program's impact on the organization as a whole. For example,
managers may be asked:

• How has the recognition program affected employee motivation and performance
in your team?
• Have you noticed any changes in employee retention since the program was
implemented?
• Do you have any suggestions for improving the recognition program?
 FOCUS GROUP

Focus groups may be used to explore specific issues related to employee recognition and
reward programs in more depth. These sessions typically involve a small group of
employees who are selected based on their experiences with the program, and they may
be used to explore topics such as the perceived fairness of the program, the impact of
rewards on motivation, or the effectiveness of different types of rewards.

During a focus group session, participants are asked open-ended questions and
encouraged to share their experiences, opinions, and suggestions related to the
recognition and reward program. Questions might include:

• What are your thoughts on the recognition and reward program?

• Have you received recognition through the program? If so, can you describe the
experience?
• How has the program impacted your motivation and job performance?

• Do you have any suggestions for improving the recognition and reward program?
 PERFORMANCE DATA

Employee performance data, such as sales figures, productivity metrics, or customer

satisfaction ratings, may be used to assess the impact of recognition and reward programs
on employee performance. This data can be compared over time to identify trends and
patterns in performance, and to assess the effectiveness of the program in achieving its
goals.

Performance data can be collected through a variety of sources, including employee

productivity metrics, sales figures, customer satisfaction ratings, and employee turnover
rates. By comparing performance data before and after the implementation of the
recognition program, organizations can determine whether the program has had a positive
impact on performance.
 CASE STUDY

Case studies may be used to explore the impact of recognition and reward programs in
specific organizations or contexts. These studies may involve in-depth interviews with
employees and managers, as well as an analysis of performance data and other relevant
metrics.

Employee recognition and reward programs are an essential component of any

organization's strategy to maintain a motivated and engaged workforce. Here are some
case studies of successful employee recognition and reward programs:

Google - "Peer Bonus Program"

Google implemented a Peer Bonus Program where employees could nominate colleagues
for exceptional work, and they would receive a cash bonus. The program not only
incentivizes employees to perform better, but it also fosters a culture of recognition and
appreciation.
Microsoft - "Hackathon Rewards"

Microsoft hosts a hackathon event where employees can work on projects outside of their
regular job responsibilities. Winners of the event receive monetary rewards and
recognition for their efforts, which encourages creativity and innovation among
employees.

Adobe - "The Founders' Award"

The Founders' Award is an annual program that recognizes employees who have made
significant contributions to the company's success. The award includes a cash prize, and
winners are selected based on their impact on the company's bottom line and their
contributions to Adobe's values and culture.
LITERATURE REVIEW
According to Boudreau and Ramstad (2005), employee recognition programs can
improve employee morale and job satisfaction. They found that these programs can help
to increase employee retention rates, reduce turnover, and enhance productivity.

A meta-analysis by Latham and Pinder (2005) found that when rewards are tied to
specific performance goals, they can significantly improve employee performance. They
also found that non-monetary rewards, such as recognition and praise, can be just as
effective as monetary rewards.

In a study by Gentry, Weber, and Sadri (2008), they found that reward programs that are
aligned with the goals of the organization can have a positive impact on employee
performance. They also found that when employees perceive that the rewards are fair and
equitable, they are more likely to be motivated to perform well.

According to a study by Grant and Gino (2010), recognition programs can be particularly
effective when they are based on the values of the organization. They found that when
employees feel that their work is aligned with the values of the organization, they are
more likely to be motivated to perform well and to stay with the organization.

In a study by Janssens, Wijngaards, and Cozijnsen (2016) in the Netherlands, they found
that employee recognition programs can improve employee engagement and reduce
turnover rates. They also found that non-financial rewards, such as verbal recognition and
public acknowledgment, were more effective in motivating employees than financial
rewards.
In a study by Krukowski (2017), they found that recognition programs that are
personalized and tailored to the individual employee can have a greater impact on
motivation and performance than generic recognition programs. They also found that
when employees feel that their work is appreciated, they are more likely to feel a sense of
ownership and engagement with their work.

In a study by Agyemang, Appiah, and Donkor (2017) in Ghana, they found that
employee recognition programs can improve employee productivity and job satisfaction.
They also found that the effectiveness of these programs was influenced by factors such
as the type of reward offered and the frequency of the recognition.

In a study by Agyemang, Appiah, and Donkor (2017) in Ghana, they found that
employee recognition programs can improve employee productivity and job satisfaction.
They also found that the effectiveness of these programs was influenced by factors such
as the type of reward offered and the frequency of the recognition.

A study by Cheng, Tang, and Chen (2018) in China found that employee recognition
programs can increase employee job satisfaction and organizational commitment. They
also found that the effectiveness of these programs was influenced by cultural factors,
such as the importance of collectivism and social harmony in Chinese culture.

According to a study by Ramayah, Lee, and Lim (2018) in Malaysia, employee

recognition programs can increase employee motivation and job satisfaction. They also
found that the effectiveness of these programs was influenced by factors such as the
perceived fairness of the reward and the frequency of the recognition.
In a study by Simonsen and Sorensen (2019) in Denmark, they found that employee
recognition programs can increase employee motivation and commitment to the
organization. They also found that the effectiveness of these programs was influenced by
factors such as the clarity of the criteria for receiving recognition and the quality of the
communication surrounding the recognition.

A Better Way to Recognize Your Employees

by Christopher Littlefield

Recognition is fundamental to the engagement and retention of top talent and the
profitability of our organizations. A recent study found that employees who reported that
their managers were great at recognizing them were more than 40% more engaged than
those with managers who were not. In addition, they were more confident, felt better
informed, offered more discretionary effort, and were less likely to quit.

Although most great managers want to recognize their people, the challenge, which has
only been made more difficult in the hybrid world, is finding meaningful things to
recognize them for. This is why it is important for leaders to add a new technique to their
management repertoire: Reflective recognition is an inquiry-based approach where an
individual or group is invited to reflect on and share what they are proud of and why.

A review of the literature conducted by the Society for Human Resource Management
(SHRM) found that effective employee recognition programs can improve employee
morale, increase productivity, and reduce turnover. The review also found that
recognition programs can help to foster a positive work culture and improve employee
relationships.
employees who receive recognition and praise are more engaged and productive than
those who don't. The study also found that recognition and praise can increase employee
retention and reduce absenteeism.

In conclusion, the literature suggests that employee recognition can have a positive
impact on various outcomes in the workplace, including engagement, retention,
productivity, and job satisfaction. Organizations that implement effective recognition
programs can reap these benefits and create a more positive work environment.

Reflective recognition gives you, the leader, a window into what matters most to another
person while at the same time, helping employees get present to their own progress and
accomplishments. What’s more? When employees stop and reflect on their own
achievements, how they’ve tackled challenges, and how they’ve made progress, it is great
for engagement, too. Research shows that when we make progress towards goals that
matter to us, we feel motivated to continue.

Employee reward programs are initiatives implemented by organizations to motivate and

incentivize their employees. These programs often take the form of bonuses, stock
options, promotions, or other tangible benefits that are tied to the performance of the
employee or the organization. Numerous studies have been conducted to explore the
impact of employee reward programs on various outcomes, including employee
satisfaction, retention, and performance.

One study conducted by World at Work found that organizations with effective reward
programs report higher levels of employee engagement and retention, as well as higher
levels of overall job satisfaction among their employees. The study also found that
reward programs can be particularly effective in driving performance in sales and
customer service roles.

Another study conducted by the Society for Human Resource Management (SHRM)
found that reward programs can improve employee productivity, reduce absenteeism, and
increase employee loyalty. The study also found that the effectiveness of reward
programs is often dependent on the design and implementation of the program, as well as
the organization's culture and values.

A review of the literature conducted by the Harvard Business Review found that the most
effective reward programs are those that are tied to specific, measurable goals and are
transparent in their criteria for success. The review also found that reward programs can
be particularly effective in motivating employees in roles that require creativity,
innovation, and problem-solving skills.
In conclusion, the literature suggests that employee reward programs can have a positive
impact on various outcomes in the workplace, including engagement, retention, and
performance. Organizations that implement effective reward programs can motivate and
incentivize their employees, create a positive work environment, and ultimately achieve
their business goals.
 DATA ANALYSIS

Analyzing the effectiveness of recognition and reward programs is a crucial aspect of

ensuring employee engagement and retention. In the case of Owens Corning, I approach
the analysis of the data on recognition and reward programs by examining several key
metrics and factors.

Firstly, I gather data on the participation rates in the recognition and reward programs
offered by Owens Corning. This data could include the number of employees who have
received recognition or rewards, the frequency of these awards, and the types of awards
offered. This would allow me to determine the overall level of engagement and
participation in the programs and identify any trends or patterns in the data.

Secondly, I examine the effectiveness of the recognition and reward programs by

analyzing employee retention rates. Retention rates can provide valuable insight into the
impact of the programs on employee morale and job satisfaction. By comparing retention
rates of employees who have received recognition and rewards to those who have not, I
could determine whether the programs are having a positive impact on employee
engagement and retention.
Thirdly, I gather employee feedback on the effectiveness of the recognition and reward
programs. This could be done through surveys or focus groups, and would provide
valuable insights into employee perceptions of the programs. The feedback could be used
to identify areas for improvement and to tailor the programs to better meet the needs and
expectations of employees.

Finally, I benchmarked the effectiveness of Owens Corning's recognition and reward

programs against industry best practices. This could involve researching the types of
programs offered by other companies in the same industry or conducting surveys of
employees at other companies to gather insights on what types of rewards and
recognition are most valued.

By analyzing the data on recognition and reward programs using these key metrics and
factors, I could gain a comprehensive understanding of the effectiveness of the programs
at Owens Corning. This analysis would allow me to make data-driven recommendations
for improving the programs to better engage and retain employees, ultimately
contributing to the success of the organization.

Thus, this is done by the way of charts and graphs, which will show the percentage of
each question and to arrive at a solution.
Age of respondents
Table no. 1
Age No. of respondents Percentage
Below 25 16 35%
26 – 30 13 28%
31 – 40 9 20%
41 – 45 8 17%
Total 46 100%

41 - 45
17%
Below 25
35%

31 - 40
20%

26 - 30
28%

Below 25 26 - 30 31 - 40 41 - 45
Gender of the respondents -
Table no. 2
Gender No. respondents Percentage
Male 35 76%
Female 11 24%
Total 46 100%

24%

76%

Male Female
Educational qualification
Table no. 3
Qualification No. of respondents Percentage
1–9 11 24%
10th 15 33%
12th 6 13%
Graduation 11 24%
Post – graduate 3 6%
Total 46 100

6%
24%
24%

13%
33%

1st - 9th 10th 12th Graduation post graduation

Marital status of the respondents
Table no. 4
Particulars No. of respondents Percentage
Married 33 72%
Unmarried 13 28%
Total 46 100%

28%

72%

married unmarried
Work experience in the company
Table no. 5
Particulars No. of respondents Percentage
Less than a year 6 13%
1 – 3 Year 17 37%
3 – 6 Year 12 26%
More than 6 Year 11 24%
Total 46 100 %

13%
24%

37%
26%

Less then a year 1–3 3–6 More than 6 year

Do you feel that the recognition and rewards given are relevant to your job
role?
Table no. 6
Particular No. of respondents Percentage
Yes 38 83%
No 5 11%
Unsure 3 6%
Total 46 100%

6%
11%

83%

yes no unsure
Do you feel that the goals of the recognition and reward program are clearly
defined and communicated to employees?
Table no. 7
Particular No. of respondents Percentage
Yes 25 54%
No 12 26%
Unsure 9 20%
Total 46 100%

unsure
20%

yes
54%
no
26%

yes no unsure
How often are employees recognized or rewarded for their
achievements or contributions?
Table no. 8
Particulars No. of respondents Percentage
Frequently 8 17%
Occasionally 18 39%
Rarely 17 37%
Never 3 7%
Total 46 100%

7% 17%

37%

39%

frequently occasionally rearely never

Is the selection process for receiving recognition and rewards
transparent and fair?
Table no. 9
particular No. of respondents Percentage
Yes 22 48%
No 9 19%
Unsure 15 33%
Total 46 100%

33%
48%

19%

yes no unsure
Have you ever participated in a recognition program at your
company?
Table no. 10
particular No. of respondents Percentage
Yes 24 52%
No 14 31%
Unsure 8 17%
Total 46 100%

17%

52%

31%

yes no unsure
Do you feel that the recognition and reward program align with the
values and culture of the company?
Table no. 11
particular No. of respondents Percentage
Yes 34 74%
No 5 11%
Unsure 7 15%
Total 46 100%

15%

11%

74%

yes no unsure
How motivated are you to perform at a high level because of the
recognition and reward program?

Table no. 12
particular No. of respondents Percentage
Very motivated 20 43%
Somewhat motivated 16 35%
Not very motivated 6 13%
Not at all motivated 4 9%
Total 46 100%

9%
13%
43%

35%

very motivated somewhat motivated not very motivated not at all motivated
How satisfied are you overall with the recognition and reward
program?
Table no. 13
particular No. of respondents Percentage
Very satisfied 13 28%
Somewhat satisfied 15 33%
Neutral 14 31%
Somewhat dissatisfied 2 4%
Very dissatisfied 2 4%
Total 46 100%

Sales

4% 4%
28%

31%

33%

very satisfied somewhat satisfied neutral somewhat dissatisfied very dissatisfied

Have you ever received recognition or rewards that made you feel
appreciated and valued as an employee?
Table no. 14
particular No. of respondents Percentage
Yes 24 52%
No 16 35%
Unsure 6 13%
Total 46 100%

unsure
13%

yes
52%
no
35%

yes no unsure
Are recognition and rewards consistent and applied fairly across
the organization?
Table no. 15
particular No. of respondents Percentage
Yes 20 43%
No 15 33%
Unsure 11 24%
Total 46 100%

24%

43%

33%

yes no unsure
CONCLUSION & SUGGESTION
Overview:

Employee recognition is an essential part of any successful organization. It not only

increases employee morale and job satisfaction, but also helps to retain top talent,
improve productivity, and promote a positive work culture. Our company recognizes the
importance of employee recognition and has several existing programs in place to
acknowledge employee contributions and achievements.

The purpose of this report is to evaluate the effectiveness of the current employee
recognition and reward programs in our organization and provide suggestions for
improvement. Employee recognition and rewards are crucial in maintaining a positive
work culture, enhancing employee engagement, and retaining top talent. Therefore, it is
essential to ensure that our programs are meeting the needs of our employees and
supporting our organizational goals.

Currently, our organization has a formal recognition and reward program that includes
both monetary and non-monetary incentives. Employees can earn recognition through
various methods, such as achieving specific goals, demonstrating exceptional
performance, and going above and beyond their job responsibilities. The rewards range
from cash bonuses to gift cards, certificates, and public recognition through social media
and company-wide emails.

by introducing a variety of rewards, making the criteria for recognition and rewards
transparent, and consistently recognizing and rewarding employees, we can improve our
recognition and reward program and create a more engaged and productive workforce.

Evaluation:
After conducting a survey among our employees, we found that while the existing
programs are appreciated, there are several areas for improvement. The main feedback
was related to the frequency and transparency of recognition, as well as the diversity of
the programs.

we conducted an employee survey and reviewed performance metrics. The results show
that employees appreciate the recognition and rewards they receive, and they feel
motivated to continue performing at a high level. However, we also found that some
employees are not aware of the program's existence or do not understand how to qualify
for recognition. Furthermore, some employees believe that the rewards are not sufficient
or are not tailored to their individual preferences.

Suggestions:

Based on the feedback received, we recommend the following suggestions to improve

our employee recognition practices:

Increase awareness: We need to promote the program more effectively through multiple
channels, such as company-wide meetings, emails, and posters. We should also clarify
the criteria for earning recognition and how the program works.

Personalize rewards: We should offer more personalized rewards based on employees'

preferences and interests. This could include giving employees a choice of rewards or
offering rewards that are relevant to their hobbies and interests.

Offer non-monetary rewards: While cash bonuses and gift cards are popular rewards, we
should also offer non-monetary incentives, such as extra time off, flexible work
arrangements, or career development opportunities.
Consistency: We should ensure that recognition and rewards are consistent and fair
across all departments and teams to avoid any potential bias or favoritism.

Regular recognition: Recognition should be regular and ongoing, rather than limited to
annual events or programs. We suggest implementing a system for managers to
acknowledge their team members regularly and informally, such as through email or in-
person feedback.

Transparency: Recognition should be transparent and communicated to all employees.

We recommend creating a platform where employees can share their achievements and
receive recognition from their peers and supervisors.

Diversity: Recognition programs should be diverse and inclusive. We suggest expanding

the existing programs to include different types of recognition, such as peer-to-peer
recognition, team recognition, and department recognition. This will allow for a more
comprehensive recognition program that reflects the diverse contributions of our
employees.

Introduce a variety of rewards: We can include both monetary and non-monetary

rewards, such as flexible work arrangements, extra time off, and public recognition. This
will help cater to different employee needs and preferences.

Make the criteria for recognition and rewards transparent: We can develop clear and
objective criteria for recognition and rewards, and communicate them to all employees.
This will increase transparency and reduce perceptions of favoritism.
Consistently recognize and reward employees: We can develop a consistent schedule for
recognition and rewards, such as monthly or quarterly, and ensure that all eligible
employees are recognized and rewarded. This will create a culture of recognition and
motivate employees to perform at their best.

Invite them to share.

The first step is to empower your employees to share what they are proud of and why.
This doesn’t need to happen as a separate, focused meeting. During your regular one-to-
ones, or even when you bump into each other in the office, you could ask them a simple
question.

• We haven’t spoken in a while, what have you been working on recently that you
are proud of?
• What do you want to be acknowledged for?
• What are you working on that’s exciting you?
• What has been the hardest part of your job lately and how have you been
navigating it?

Here, we look at 8 statistics that demonstrate the importance of employee recognition on

employee, team, and business success.

1. The reason most people leave their jobs is a lack of recognition.

Don’t miss an opportunity to recognize your employees. Celebrate employee

accomplishments and progress throughout the employee cycle to demonstrate your
investment in their career growth and success. Regular, frequent recognition shows you
want to help keep them motivated to hit future milestones.
2. Organizations with recognition programs had 31% lower voluntary turnover than those
without.

If your organization doesn't have a formal recognition program, there are a few ways to
start. Use your one-on-one meetings or employee surveys to find out if your employees
feel valued and how you can improve your strategy. If you do, make sure employees
know it exists and how they can take part.

3. Organizations with recognition programs in place experience 28.6% lower frustration

levels than those without.

Recognition shouldn't only be about success and goal achievement. Having a strategic
recognition program in place can help you easily celebrate the micro-moments along the
way—such as quality work, taking on new tasks, or going above and beyond for their
team.

4. 52.5% of employees want more recognition from their immediate manager.

Recognition should be public and available to all employees—especially managers.

Employees want to know what they are doing well, how they can improve, and what
support they have available to them. Public recognition gives managers visibility into
how often their employees are giving and receiving recognition to impact their
engagement individually.

5. Organizations with sophisticated recognition programs are 12x more likely to have
strong business outcomes.

Recognition should be incorporated within one-on-ones, feedback, and talent reviews.

Including recognition in frequent performance conversations helps solidify the
importance of employee recognition in your culture and organization. When employees
understand how their contributions impact the business (and are recognized for it) they'll
be more likely to contribute again.

6. 4 in 10 respondents (41%) want more recognition from their immediate coworkers.

Recognition from immediate managers is key—but so is recognition from peers and

coworkers. Give your team members plenty of opportunities to encourage each other and
show appreciation. Peers often have more insight into employee effort and morale than
senior leaders.

7. Recognition for work is one of the top drivers of candidate attraction.

If your company is hiring, recognition might just be the key to attracting top talent. If you
don't have a recognition program, make sure you're at least getting creative about
showing appreciation. Generic and inauthentic recognition strategies can have a negative
effect on the employee experience.

8. When companies spend 1% or more of payroll on recognition, 85% notice a positive

impact on engagement.

Awards, compensation, and incentives are good appreciation ideas, but make sure they
aren't your only outlet for recognizing employees. Consider an investment in user-
friendly employee recognition software to make every aspect of your employee
recognition more efficient, more accessible, and more personable.
Conclusion:

Employee recognition is a critical component of our organization's success. By

implementing the suggestions outlined above, we can improve our recognition practices,
increase employee morale and engagement, and promote a positive work culture. We
recommend that HR department take a lead in implementing these changes and ensuring
that they are communicated to all employees. Thank you for your attention to this matter,
and we look forward to seeing the positive impact of these changes.

Our current programs lack specificity and fail to differentiate between high and low
performers. This leads to a lack of motivation among high performers who feel they are
not being adequately recognized for their efforts.

The current programs also lack flexibility in terms of the types of rewards and
recognition offered. Employees have different preferences and motivations, and a one-
size-fits-all approach may not be effective.

Employee recognition and rewards are vital to maintaining a positive work culture and
retaining top talent. We recommend increasing awareness, personalizing rewards,
offering non-monetary incentives, and ensuring consistency across all departments. By
implementing these suggestions, we can improve employee engagement, motivation, and
productivity while supporting our organizational goals.
 SOURCES

https://hbr.org/

https://www.freepik.com/

https://www.wikipedia.org/

https://www.economist.com/

https://www.researchgate.net/

https://blog.vantagecircle.com/

https://www.owenscorning.com/en-us

https://www.businessnewsdaily.com/

https://www.quantumworkplace.com/
 QUESTIONNAIRE

Respected Madam/sir,

I am a student of Smt. Devkiba Mohansinhji Chauhan College doing my project on topic

" Examining the effectiveness of employee recognition and reward program".

will be grateful to you, if you extent your support by sparing a few minutes from your
busy schedule for the successful completion of my project. The answers provided by you
will only be used for academic purpose and will be kept confidential.

1. what is your age?

 Below 30
 31 – 40
 41 – 50
 Above 50

2. Gender.

 Male
 Female
 Others

3. Educational qualification.

 1st – 9th
 10th
 12th
 Graduate
 Post graduate
4. Marital status

 Married
 Unmarried

5. Work experience

 Less than a year

 1 – 3 Year
 3 – 6 Year
 More than 6 Year

6. Do you feel that the recognition and rewards given are relevant to your job role?

 Yes
 No
 Unsure

7. Do you feel that the goals of the recognition and reward program are clearly
defined and communicated to employees?

 Yes
 No
 Unsure

8. How often are employees recognized or rewarded for their achievements or

contributions?

 Frequently
 Occasionally
 Rarely
 Never
9. Is the selection process for receiving recognition and rewards transparent and
fair?

 Yes
 No
 Unsure

10. Have you ever participated in a recognition program at your company?

 Yes
 No
 Unsure

11. Do you feel that the recognition and reward program align with the values and
culture of the company?

 Yes
 No
 Unsure

12. How motivated are you to perform at a high level because of the recognition and
reward program?

 Very motivated
 Somewhat motivated
 Not very motivated
 Not at all motivated

13. How satisfied are you overall with the recognition and reward program?

 Very satisfied
 Somewhat satisfied
 Neutral
 Somewhat dissatisfied
 Very satisfied
14. Have you ever received recognition or rewards that made you feel appreciated and
valued as an employee?

 Yes
 No
 Unsure

15. Are you aware of the recognition and reward program in your organization?

 Yes
 No