“People may take a job for more money, but
they often leave it for more recognition”.
~Bob Nelson
The old adage “Look after the small things and the big
things look after themselves” can easily be applied to the workforce of an
organisation. “Look after your people and the business will look after itself”.
It could not be more relevant today as when it was first said. The staff in an
organisation is more than employees. They are valuable individuals with unique
competencies and characteristics who require appreciation as much as a
paycheck. People need to know not only
how well they have achieved their objectives or done their work but also that their achievement are appreciated. Recognition and Rewards give employees
the extra push they need to do their jobs just a little bit better.
Organizations that fail to effectively recognize their employees are losing the
very workers they wish they could keep.
Reward and recognition is concerned with the range of practices an
organisation undertakes (financial and non-financial) to compensate employees,
maximize employee engagement and encourage behaviours that lead to
organisational success.
Recognition is about acknowledgement
and appreciation for a contribution, improvement, innovation, or excellence—a
message to employees that they are valued. The act of recognizing an employee
affirms the values and spirit underlying the achievement. It’s also about
reinforcing desired behaviors and increasing their occurrence. Attitude and performance
are closely linked; the appropriate recognition at the appropriate moment will
create a positive attitude that, in turn, will lead to improved performance.
Reward is the direct
delivery of money or something of financial value. In contrast to recognition
,reward should punctuate appropriate achievements and serve as manifestations
of ongoing recognition. While recognition is an intangible expression of worth,
rewards are concrete expressions of appreciation that are meaningful to the
receiver. Recognition is always powerful, but reward without recognition is
weak. Typical rewards are pay promotional increases, bonuses, benefits, company
cars, profit sharing and trips.
