Employee Recognition
Employee recognition awards
In today’s highly competitive business world, employee recognition is an important aspect of a business that needs to be given due attention. The way it is implemented and its success depend on how the business pursues employee recognition. In this report, we would like to showcase employee recognition in the business world, the theories behind each application, and how it is implemented by businesses.
Employee recognition is an incidence or program by which an employer appreciates and acknowledges the efforts and contributions of an employee publicly. This program is widely used by huge corporations, small businesses or managers as it is related to a number of individual and organizational outcomes. This concept of rewarding an employee’s behavior is one of the fastest growing in the world, especially in North America. Employee recognition also provides an opportunity to demonstrate the culture in a way that has an impact on employees. Some of the benefits of implementing this idea are job satisfaction for employees, higher performance and productivity, lower turnover, higher motivation and improves morale.
Employee recognition is split into three categories: formal, in-formal and everyday recognition. Choosing the appropriate category along with choosing the right factors, results in the effective recognition of employees. The first and the most widely used category is the formal approach. It consists of long-term service awards, performance awards, safety awards, monetary awards, and other similar prospects. These are awards that might be given out every month, or quarter, and usually involve plaques, or certificates. For example, recognizing the “best employee of the month” award is one of the common recognition methods used in firms. Some employees may think that this approach is not genuine and may under value these awards.
The second approach is the in-formal approach, which is a more departmental focus on
In today’s highly competitive business world, employee recognition is an important aspect of a business that needs to be given due attention. The way it is implemented and its success depend on how the business pursues employee recognition. In this report, we would like to showcase employee recognition in the business world, the theories behind each application, and how it is implemented by businesses.
Employee recognition is an incidence or program by which an employer appreciates and acknowledges the efforts and contributions of an employee publicly. This program is widely used by huge corporations, small businesses or managers as it is related to a number of individual and organizational outcomes. This concept of rewarding an employee’s behavior is one of the fastest growing in the world, especially in North America. Employee recognition also provides an opportunity to demonstrate the culture in a way that has an impact on employees. Some of the benefits of implementing this idea are job satisfaction for employees, higher performance and productivity, lower turnover, higher motivation and improves morale.
Employee recognition is split into three categories: formal, in-formal and everyday recognition. Choosing the appropriate category along with choosing the right factors, results in the effective recognition of employees. The first and the most widely used category is the formal approach. It consists of long-term service awards, performance awards, safety awards, monetary awards, and other similar prospects. These are awards that might be given out every month, or quarter, and usually involve plaques, or certificates. For example, recognizing the “best employee of the month” award is one of the common recognition methods used in firms. Some employees may think that this approach is not genuine and may under value these awards.
The second approach is the in-formal approach, which is a more departmental focus on