- On February 19, 2019
- By Beehive HRMS
Easiest approach to keep track of reward and recognition
There are many companies available in today’s world almost in every field. So there are lots of competition everywhere. In such competitive scenario the business owners are looking for improvement of quality and reduction of cost. In order to get more output from employees it becomes essential to regularly provide reward and recognition the employees and keep their motivation high.
Now, let’s try to understand the terms reward and recognition although sometimes they are used interchangeably but actually they represents different meaning. Employee reward and recognition system are deployed by organizations to track performance of an employee and reward them according to keep them motivated for working hard. But employee reward and recognition system is sometimes combined with reward system also, recognition system helps us to understand that a particular candidates potential based on some tangible parameters.
Now there are some aspects of employee rewards and recognition as well, first aspect is to realize an opportunity to praise someone. Other aspect of rewards and recognition system is physically doing something to praise good work.
A question may arise in our mind that why should we be involved in rewards and recognition? The reason is firstly, to ensure good relationship among co-workers and second, reward and recognition system have huge communication impact. Rewards and recognition can help up with the good work and conveying this in form of appraisals have great positive impact on recipient.
A few easy approach to design a reward program are as follows:-
Identifying the goals of company or groups that the reward and recognition program will support:-
In order to ensure benefits such as increased productivity, the reward program designed must identify certain goals which may be achieved by entire organization or by particular group. This also helps the employees to understand what exactly is wanted from them.
Identification of employee performance or behavior that will help to reinforce company goals:-
Proper measuring of performance becomes essential to ensure that the rewarding program pays off in terms of business goals. Since the reward cost money so business owners has to confirm it before rewarding. Often some other parameters are also taken into account like happy customers, quick deliveries etc.
Determination of key measurements of performances based on individuals or groups pervious achievements:-
Now the improvement of an employee can be measured only by a comparative study of his/her current performance to that of the previous performance. Comparative study of performance helps management to understand actual improvement of the employee.
Determination of appropriate rewards:- Overall profit of company from the performance of an employee must be calculated before deciding the reward for employee.
Communication of programs to employees:-
In order for a reward program to be successful, it is necessary to specify the needs clearly to the employees. Motivation depends on what is being asked to him/her. Once this is done, meetings can be organized in form of gatherings, functions and memos promoting the program. The meetings can be brief but must be regular to ensure that the staff members are very much aware of the changes made to system.