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Role of Employee Recognition and Rewards in the Success of a Company

BY: S Edwin | Category: Others | Submitted: 2010-06-20 07:33:03
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Article Summary: "Success of a company depends on the employees. Read on to learn about the role of rewards and recognition for employees in the success of the company..."

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Employees in a company may be either a large number or may be a handful and actually depends on the size of the company. There are various factors that you have to remember as far as the rewards and the recognition that is given to the employees in the company. There are some people who need a lot of attention while others in the company may keep a low profile. The best management of a company will understand and be able to bring out the best talents from each of these groups of people.

There are various kinds of rewards that will help the employee to perform better at the workplace and these rewards are listed here.

1. Monetary benefit:

The monetary benefits are the primary concern for all the employees. There are different kinds of benefits that an employee may gain from the company, but the monetary benefits and compensations are the most important as that plays a major role in the motivation of the employee.

2. Rewarding faithful work:

There are some employees who are not faithful in their work. The results will show that they have not been performing up to the expected level. On the other hand, there are many other employees who may have put in all the effort to try to make the company to be profitable. As an executive in the company, you should be able to identify the people who have not been working and you should reward the people who have been giving their best to the development of the company.

3. Regular workers and rewards:

There are some workers who are very irregular and they are not able to concentrate on the work and they often go on leave. These groups of people may not be very effective. On the other hand, there are a group of people who are very diligent in their work and they give off their best. Such people need not be given monetary benefit, but they should be on the fast track for the promotion that is given regularly in the organization. The promotion is also a reward that can be given to the employees in the organization to make them perform better.

4. Training programs:

There are various training programs that can be used as a motivation and as a reward for the employees who are performing well. There are training programs that will help the employee to learn new trades or jobs and this will help them to be at an advantage when compared to the other employees. This is another important advantage for the employees who perform well and can be considered to be a reward for their hard work.

Rewards are very important for the employees to perform well. If you are running an organization, then the rewards for the employees play an important motivational factor. Even a pat on the back or a letter of appreciation to the employee is a major method of making the person to work better in the organization.

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