For successful and profitable operation of any business, it is crucial that the organization values its most important resources- that is human resources. Employees are the stakeholders, which actually work towards achievement of the organizations goals and represent the organization to the public. Hence, the organization brand name and its reputation is inherently associated with the employees working in it. Therefore, it is crucial that the organization motivates and recognized such employees to encourage more productivity and efficiency.
Motivating the employees through utilizing a number of recognition technique is extremely cost efficient and cost effective for the organization. Such a procedure helps in reinstating the culture of the organization. As per researches, it has been analyzed that employee recognition significantly enhances the employee productivity as a result of which the organization profitability and revenue earned also increases. Through employee recognition strategies, the behaviors which are associated in achieving the organizations objectives are awarded and shared.
Many employees who work in an organization do not need any external source of motivation. They are self motivated, and do not require any external and material stimuli. They are completely driven by their own focus of achievement. However, this is not the complete picture. There are employees who consistently need the reminded of an external stimulus, and hence employee recognition becomes crucial for them. Recognizing and getting rewarded for the desirable behavior is extremely pleasant and wanted in us, therefore, recognition and acknowledgement of one’s hard work and achievement works as a very important employee recognition technique.
Employee recognition comprises of the top managements recognizing the true achiever and then finally rewarding such a person or persons or their behavior to further reinstate it in the organization. Corporate awards are one such method of rewarding employees. The award needs to be significant and they must have a meaning, and should be desired by the entire organization. Thus will create, a level of healthy competition in the work culture, and every individual would be motivated to work to achieve such an award. Hence as a result naturally the productivity increases many fold. Apart from that, awards which is designed suitable for the entire family of the organization can also be gifted. Such will also satisfy the family, and the relationship with the organization would further strengthen.
Also, along with awards, simple awards celebrating achievement of the target of the week, month etc can also be started by organizations. The best employee of the week or month, the best most polite employee, the team member award, etc are examples of such which prove to be useful.
The power associated with such an award goes well beyond the monetary value. The people who are the life blood of any organization, deserve to be awarded to achieve the organizations true potential.