Rewards & Recognition
Rewards & Recognition are typically used either to reward an employee for behaviour or recognize an employee for results. Despite the existence of various programs in the corporate culture, the purpose or goal is not always clearly defined, lack rigour and thereby don't meet the desired objective.
Some studies have shown that the employee tenure in a company tends to increase when suitably rewarded.
"What contributes to good morale in the work environment?"
It's a myth that good employees care only about money. Money is important, but there are many items that contribute to an employee's morale. Interestingly, some are so fundamental that we tend to miss them completely.
For instance, do your employees feel:
- Treated fairly and respectfully?
- Valued and appreciated?
- Recognized and possibly even rewarded for their work?
Based on the several thousand Exit interviews and ESAT surveys conducted, AceNgage has sufficient data to state that 65% of respondents cited not "feeling valued" or "insufficient recognition or reward" for leaving previous employer.
About AceNgage Rewards & Recognition Programme
The AceNgage Rewards & Recognition Programme program ensures the following key drivers:
- 1. Rigour
- 2. Participation
- 3. Visibility
- 4. Effective
- 5. Creative
- 6. Timeliness
The AceNgage Reward & Recognition programme offers a variety of activities to assist your company in creating the optimum environment for employees to succeed. We are confident that with the right programmes, employees can be motivated to achieve their responsibilities and goals and in turn the company will realize the successes and growth they desire.
Classification of Employee Recognition Activities
- Rewards
- Recognition
- Fun Activities
These rewards will require a higher budget allocation and would normally be given to the best performers (achieving KPI's) across the various processes. E.g. of these rewards : trophies, cups, gift vouchers, etc.
These will be given to employee for displaying exemplary performance and are normally given on an adhoc basis. E.g. of these rewards : thumbs up cards, thank you notes, etc.
These are activities that are conducted on the floor to enthuse employees and to create a 'buzz' on the floor. Activities could include games, contests , quizzes, events, etc.
Methodology
- Measure current Employee Recognition programme
- Conduct a telephonic discussion with a sample size of the population to understand current process.
- Assess satisfaction levels.
- Seek suggestions on areas of improvement.
- Meet key stake holders
- Meet key stake holders before designing the R&R programme, to ensure a thorough understanding of current practices and process.
- Understand key performance areas that need to be recognized.
- Agree on the number / type of rewards that need to be given out.
- Understand budget allocation.
- Roll out
- Calendar of activities to be published.
- Ensure rigor in conducting the Employee Recognition programme.
