Recognition and Reward

RECOGNITION AND REWARD

RECOGNITION

MEANING:

Recognition is a process whereby management shows acknowledgement of an employee’s outstanding performance. Recognition is a form of employee positive motivation. Recognition of employees is highly essential as people find themselves in a accepted and winning role. To sustain employee’s interest and to propel them towards continuous improvement, it is essential to recognize

the people. This acknowledgement may be of financial, psychological or both in nature.

Ways to recognize people

Send letters to improve team members when they establish a team thanking them for their involvement.

1.     Develop a behind the scenes awards specifically for those whose actions are not usually in the lime light, make sure such awards are in the lime light.

2.     Create best ideas of the year booklet and include everyone’s picture name and description of their best ideas.

3.     Feature the quality team of the month and put their picture in a prominent place.

4.     Honor peers who have helped you by recognizing them at your staff meetings.

5.     Let people attend meetings, committees etc; in your place when you are not available.

6.     Involve teams with external customers and suppliers, sending them on appropriate visits to solve problems and look for opportunities.

7.     Invite a team for coffee or lunch at any time, not necessarily when you need them for something.

8.     Create a visibility wall to display information, posters, and pictures, thanking individual employees and their teams, and describing their contributions.

9.     When you are discussing an individual or group ideas with other people, peers, or higher management make sure that you give them credit.

WHY SHOULD ONE RECOGNISE PEOPLE

1.     improve employees morale

2.     show the company’s appreciation for better performance

3.     create satisfied workplace

4.     Create highly motivated workplace.

5.     Reinforce behavioral patterns.

6.     Stimulate creative efforts.

REWARD

MEANING:

Reward is a tangible one, such as increased salaries, commissions, cash bonus, gain sharing, etc; to promote desirable behavior.

TYPES OF REWARDS:

1.     Intrinsic rewards

2.     Extrinsic rewards

Intrinsic rewards are related to feelings of accomplishment of self-worth.

INTRINSIC REWARDS

1. Non-monetary forms of recognition to acknowledge achievement of quality improvement goals.

2. Celebration to acknowledge achievement of quality improvement goals.

3.   Regular expressions of appreciation by managers and leaders to employees to acknowledge achievement of quality improvement goals.

4.    360 degree performance appraisals feedback from co-workers subordinates to customers is incorporated into performance appraisals.

EXTRINSIC REWARDS:

1.     Profit sharing

2.     gain sharing

3.     employment security

4.     compensation time

5.     individual based performance systems

6.     quality based performance appraisals

Recognition is a process by which management shows acknowledgement of an employee’s outstanding performance.

Various ways for Recognition and Rewards are

1.     Recognition can be expressed using verbal and written praise.

2.     Rewards may be in the form of certificates and plaques.

3.     Reward is normally in the form of cinema tickets, dinner for family etc.

4.     The financial compensation (for recognition) can be paid in terms of increased salaries, commissions, gain sharing etc.

5.     The efforts of employees can be recognized by promotions, special job assignments etc.

6.     A letter of appreciation from the CEO or the Top Management will increase the employee’s involvement.

7.     Reward may be delayed but recognition should be in a timely basis.

8.     Rewards should be appropriate to the improvement level.

9.     People like to be recognized than any reward.

10.Special forms of recognition include pictures on the bulletin board, articles in news letters, letter to families etc.

11.Supervisors can give on-the-spot praise for a job which is done well.

EFFECTS OF RECOGNITION AND REWARD SYSTEM

1.     Recognition and reward go together for letting people know that they are valuable members for the organization.

2.     Employee involvement can be achieved by recognition and reward system.

3.     Recognition and reward system reveals that the organization considers quality and productivity as important.

4.     It provides the organization an opportunity to thank high achievers.

5.     It provides employees a specific goal to achieve.

6.     It motivates employees to improve the process.

7.     It increases the morale of the workers.