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Three P. of Rewards and Recognitions

Are rewards and recognition programs important in the business environment? Studies show that rewards and recognition motivate people to do better because they know they are valued and quickly realize how important they are to the business. Encouraging individuals offer great potential for success in business plans, team efforts, and job performance. The Rewards and Recognition program helps to motivate people to the best of their ability when it gives everyone in the organization a chance to be recognized and the people involved are openly recognized as valuable for the business.

Most business managers realize that there are two types of rewards, monetary and non-monetary. Monetary includes hard dollar benefits in the form of bonuses or raises individuals or groups who can receive satisfactory or higher work performance. Non-financial rewards are what many managers think of in terms of promotions, top-level job assignments, or other forms of soft identification. Whether the ingredients are monetary or non-soft or hard, it is up to the individual or the group to decide what will be better individually and in proportion, as well as bring pleasure to the recipients.

Rewards should be:

  • Personal Determining whether they prefer private or public identities and talking to participants about what they prefer, whether it’s an award, a gift, part-time job or money.
  • pro rata By balancing the size or type of reward with individual or group participation and accomplishments as it relates to organizational goals.
  • Pleasant Meaning making things fun and entertaining with rewards or a choice of creative rewards.

When looking at identification, administrators should look at the internal and external benefits for recipients. Internal benefits include a sense of pride and satisfaction in which an individual or team performs well. Get a job and their personal motivations. External benefits will depend on what can be seen, touched or used by the individual or team. This type of identification is intended to reinforce a particular behavior in recipients. Is used. They can also provide short-term benefits to managers by increasing the level of motivation or good behavior of identity recipients. Both internal and external identification must be given immediately with the correct and principled recognition of why it is being given.

Identification should be:

  • accurate Recognizing when, where, why, and how this work was done, as well as the relevance of what was done by the individual or group.
  • In principle By sincerely and honestly acknowledging an individual or group that supports organizational beliefs and values ​​through their commitment and actions.
  • Immediately With identification as soon as the incident occurred or after the operation was completed.

Rewards and recognition are used to motivate people to do better. Encouraging people are key to business success through their projects and teams. An award and recognition program that helps motivate people should be an important and invaluable part of doing business.