Business

7 Common Myths About Employee Recognition And Rewards

A lot of firms offer different types of employee recognition and rewards. It is a great way to keep them motivated and also to give them the impetus to continue the good work they have been doing.

Here we are going to bust some of the common myths which tend to be associated with such rewards

1. Cash Is Always A Better Option For Rewards

It is such a massively enormous misnomer. When you are presenting employee recognition and rewards, it could be a trophy, a plaque, or even just a certificate. The focus is on letting them know that you appreciate them and money isn’t always the sole yardstick for ensuring it.

2. Rewards Tend To Be Expensive

This is another myth that has to be busted. Based on the kind of budget you have; you can decide the kind of rewards which you want to offer. Like we said, sometimes offering as much as a certificate might be enough. So, draw your line.

3. Only The Elite Employee Deserve The Rewards

Rewards are not offered based on the position and designation of the employee. It is mainly a way to let the employee know that their hard work is paying off, so, you should give awards when earned; regardless of what their designation and salary are. Anyone who puts in a great job and gives in more than their cent percent and brings in added growth to the firm is in good contention for getting the best set of rewards.

4. Salaries Are Like Rewards Itself

Salaries have absolutely nothing to do with rewards. It is important to understand the difference between salaries and rewards. While salaries are a reflection of the basic money offered in exchange for work; rewards mainly symbolize the appreciation for work done above what is deemed to be the duty.

5. These Awards Are Only Meant To Be Held Annually

There is NO compulsion for such awards to be held annually. It is upon you to decide when to have these awards and recognition. Some organizations do not believe in having a full-fledged ceremony as they simply have round table conferences wherein the most amazing employees with great track records are awarded. Everything boils down to how your firm wants it and the type of budge you have. The sensibility lies in doing it right rather than sticking to some old stereotypical norms.

6. There Is No Proper Metric To Measure Appreciation

Appreciation can be measured in a plethora of ways. You do not need to always look at the sales number and the performance ratio as there are tons of different methods that you can see. Look at how dedicated an employee is, the kind of effort they put in, their motivation level, and more.

7. It Can Encourage Hatred Among Employees

Some people think that when you award some of your employees, it could foster the wrong emotion and stir hatred among them. It is very important to know that this is not so. You should have an all-round positive environment in your workplace and try to foster the spirit of camaraderie. The presence of transparency ensures that employees should know that those who worked over and above what was expected of them have been awarded and even the rest would get the same treatment if they manage to exceed the expectations.

Conclusion

So, these are some of the common myths related to employee recognition and awards which you should steer clear of. We believe that the best of organizations should always make it a point to inculcate the use of awards and rewards as it is another good way to encourage the employees to do something more for the sake of the company they work at.

It is human behavior to give in to this little bouquet of benefits and extra incentives and rewards. So, don’t give in to the myths and follow the right trends.

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