Doesn’t every organization, big or small, aim to ensure sustained productivity and growth? When a culture of continuous improvement and engagement is fostered, this goal becomes easier to achieve. However, the challenge lies in managing the performance of employees and sustaining their motivation levels.
Performance management is not just about feedback and performance appraisals. But it is also about making your employees feel valued by providing them with the most relevant rewards and recognition (R&R) program. 🎁
How is your organization recognizing and rewarding employee achievements? During our recent Parichay ‒ Ask the Expert webinar, we asked a senior HR leader to share his perspectives on employee engagement and performance management. Not only did he share his experiences, but he also enlightened us with valuable tips to elevate 🚀the effectiveness of employee performance management.
Here are five 🖐️ practical rewards and recognition methods suggested by the speaker, Anurag Darira, Head of Human Capital at EnKash.
1. Peer Recognition: A Source of Inspiration
Create a culture of appreciation that fosters camaraderie between your employees/team members in more ways than one. When you encourage employees to appreciate their peers, you’ll notice a significant improvement in the morale of the team. This results in improved loyalty and productivity levels.
2. Rewards and Development: Made for Each Other
There are so many ways to appreciate and reward an employee. One amazing way is to link it to the professional and personal development of your employees. Since you know their performance and contributions, give them opportunities to lead different initiatives internally and externally. Learning and development opportunities are also likely to have a positive impact on employees. Put simply, it pays to invest in your employees’ development.
3. Stakeholder Appreciation: A Priceless Reward!
Sometimes, small gestures can make a significant impact on an employee! Try this: Encourage your senior management to meet, greet, and appreciate your employees in person. They can appreciate their employees’ contributions to the organization. This might be a small gesture, but it can help reinforce the organization’s commitment to building an employee-friendly work environment.
4. Unique Rewards: A Cool, New Morale Booster
The interests and preferences of employees may vary. Therefore, it is prudent to tailor rewards based on their expectations. Think of conventional rewards like adventure trips or unique travel experiences. You could also give them the liberty to pick an option from a rewards bucket!
Also, try rewarding employees who go beyond the call of duty. Such individuals can be rewarded with an ‘attitude bonus’. Thoughtful rewards and recognition help boost the morale of employees who will raise the bar on productivity and innovation.
5. Family Involvement: Strengthening Relationships
Moral support can do wonders for an employee’s performance. In many cases, the family members would have played a significant role in supporting them. Therefore, you could make an effort to reach out to them and express your gratitude towards them. Tell them that their support helped your employees perform better and succeed at the workplace.
Do you want to hear it directly from the expert?
Watch the Webinar Recording
