Rewards and recognition play an important role in employee satisfaction. Rewards and recognition can be a part of both formal and informal programs. These awards further result in performance management and it helps to create a workplace environment which develops a positive and healthy spirit of competition among the employees thereby leading to achieving the necessary business results and goals. These employee awards are sure to be proudly displayed by all who receive them, plus they also make charming and unique conversational pieces which will be remembered for years to come. As you can see, the world of competition is healthy and good for the employees.
Employees will get more work done, and your organization will benefit in the long run and it is common for management to find it difficult to increase productivity or get more out of the employees.Another reason to give employee awards is that you build motivation within the staff members. There are many reasons to reward employees, and it will benefit the company in many ways. When you reward employees, you create motivation across the organization. Employees love receiving an award since they love to know that their effort is appreciated and noticed by the firm.
Before you even try to give the award, it is obvious that there are certain criteria to follow. Certainly, always be timely and specific about the rewards. In order to maintain performance management there are few criteria that you need to consider when rewarding a person. Give the recognition and award for achieving the desired performance rather than just for doing the required task. The reward should be based on obtainable goals. These rewards and recognition programs should result in enhancing collaboration. As a manager, you can personally congratulate your employee for doing a good job.Along the way, make it a point to define the mechanics and parameters and also try and gather the support and commitment of your staff.
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According to some people they are provided to encourage and inspire others. The above mentioned points, if followed can help you develop a positive and competitive spirit among your employees which in turn will motivate them to do well.