Professional Documents
Culture Documents
INTRODUCTION
Productive workforce is the key to ensuring
organizational success.
Rewards and recognition can be powerful tools for employee motivation and performance improvement. Motivation is the driving force.
Intangible scenario.
rewards
are
assuming
greater
INTANGIBLE REWARDS
A form of psychic income earned in recognition of superior performance on the job is called intangible reward. It can be in form of a Thank-you letter, public acknowledgment of accomplishments, a special private lunch, smiles, nods and pats on the back encouragement to pursue ideas
"Pay is your ticket to the game, but recognition is what people work for
EMPLOYEE RECOGNITION
Employee recognition is a communication tool that reinforces and rewards the most important outcomes people create for your business.
Pay enough so that money isnt an issue, and then give your employees high recognition, autonomy, and the opportunity to learn and grow
Certificates of Appreciation
Length of Service Recognition
Opportunity
to
Learn,
Develop
and
Advance as an Employee
Cisco Systems Inc.'s: CEO John Chambers hosts a monthly hour-long birthday breakfast for any employee with a birthday that month. Calgon: Calgon had an annual award for 'the best idea that didn't work. This stimulated innovation and positive behavior, not 'winning.
CONCLUSION
Monetary incentives result in employees focus more on producing just enough to get that monetary reward, and less on innovation and teamwork.
Psychologically, people desire recognition, need to feel a part of a team and want to do a good job.
Praise is inexpensive. But the outcome of praise is extremely expensive for any organization.