THE VALUE OF REWARDS AND RECOGNITION

JEANNIEFFER R. DAVID

Any one likes to be appreciated for good deeds, recognized for a job well done, or given incentives for a superb performance. In a workplace, people do respond well to incentives for good performance and to recognition for doing especially good work. Employers shouldn’t forget this and the power of extrinsic and intrinsic motivation if they want great performance.

Rewards and recognition in the workplace have benefits for both employees and employers. Basically, when recognized for stellar performance and productivity, employees have increased morale, job satisfaction and involvement in organizational functions. As a result, employers experience greater efficiency and an increase in sales and productivity. Through workplace rewards and incentives, employers and workers enjoy a positive and productive work environment. These rewards and recognition may be in monetary, or not monetary, employee recognition or employee assistance.

The importance of rewards and recognition in the workplace extends beyond providing increased pay. In fact, providing employee rewards, whether monetary or not, can significantly affect your company’s bottom line. There are gains in doing this like staff retention, enhancement of performance and productivity, and sustaining the high-spirited morale of the employees. All leads to the success of the company an attainment of its mission and vision.

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The author is Teacher III at Angeles City Senior High School