0

Employee Reward and Recognition – Key to Organization’s success

Port Melbourne, VIC ( Freeukpressrelease ) March 19, 2012 – “Call it what you will, incentives are what get people to work harder”, claims Nikita Khrushchev, a renowned Soviet leader at the time of the Cold War. Whilst no doubt an extreme time in history, there is truth in his statement that employees expect to be motivated in the form of recognition from their employers.

Your company’s high achievers know that their skills are sought after at several organisations, irrespective of the state of the economy and as such acknowledgment from Management for overachievement is simply not good enough these days to motivate and retain employees. Monetary incentives and promotions based on performance seem to be the common methodologies to motivate employees.

It requires an expert team to understand, design and manage the ‘Reward and Recognition’ program for a company’s employees. This is often in the form of outsourced partners that specialize in implementing these programs and therefore are across the emerging trends as well as possessing the knowledge and technology platforms to provide these programs.

There is also the emergence of expert teams called “Business Improvement Partners” that have begun to assist some of the corporate giants to come up with Incentive programs to recognize its employee’s performance periodically. Alan Heyward, Sales & Service Director for Accumulate, an Australian based firm (specialists in Business Improvement) claims “It is critical to have a consistent enterprise-wide approach to recognizing and rewarding employees and it is important to recognize behavior as well as performance. Also, it is essential to provide a wide range of recognition and reward options, as different people are motivated by different things.”

Unfortunately, during periods of economic uncertainty it’s these very programs that have contributed to building stable and successful workforces that are wound back. Heyward however claims that it has to be the other way around. “We have found that during market downturns in recent years, several companies actually increased their investment in rewarding and recognizing people, in a bid to boost employee performance”.

Motivating and recognizing your employees with a tailored reward and recognition program is an investment not only for employees but for your organization’s stability, growth and profitability.

Accumulate is one such Business Improvement company that can provide you with the right solution for your organization’s needs. For more details, please visit www.accumulate.com.au.

###