Employee Recognition and Rewards
Introduction: Figure 1: Employee recognition and rewards (possibleworks, 20233). An employee rewards and recognition program is a structured method for acknowledging the accomplishments and contributions of employees within an organization. Typically, recognition occurs through an internal platform where employees can share achievements, often accompanied by points that can be redeemed for rewards. The primary goal of such a program is to enhance employee morale, elevate performance levels, and foster talent retention. Employee recognition plays a crucial role in influencing important business metrics such as engagement, productivity, and retention. Establishing a meaningful employee recognition and reward program is achievable for any organization, but it necessitates appropriate understanding, strategic planning, and resource allocation. The purpose of an employee rewards and recognition program is: Figure 2: What are employee rewards and recognition programs (...