Rewards and Recognition: Building the right scheme for your organisation

Employee recognition is the timely, informal or formal acknowledgment of a person’s or team’s behaviour, effort or business result that supports the organisation’s goals or values. Rewards schemes are a vital tool for employers to utilise in communicating the organisation’s dedication to their goals and direction, whilst also identifying and reinforcing employees who show commitment to the business. The right reward scheme would motivate and recognise all levels of the organisation whilst also suiting all demographics and achievements. For instance, some employees would appreciate a paid day’s leave as a thank you whilst others might welcome a more tangible gift like tickets or an experience day.

A reward scheme is not simply a “one size fits all” result, and employers should consider the desired results before simply investing their rewards budget in the wrong place. The employer must decide what organisational objectives are worth rewarding in their staff. For instance, if a company is looking to increase employee retention and longevity, installing an employee service programme with gifts given at milestone anniversaries can be a great way to recognise those in your team who have contributed to the business over a longer period. If you are looking to instil a culture of recognition in the workplace, then a peer to peer thanks system can be used as a purely non-financial benefit to engage employees and recognise achievements where management might not necessarily be aware of any measures taken.

Crucial to any rewards programme is timing. Rewards should be dispensed quickly in order to ensure clarity and engagement. Leave it too long and you risk coming across as out of touch with your employees as well as lessening its overall impact. Furthermore, the rewards scheme should be able to be engaged with on a long term basis in order to promote ongoing engagement and involvement.

The powerful impact of a sincere thank you from management whether verbal, written or electronic cannot be understated. It encourages teamwork and productivity whilst also boosting staff morale and performance. A rewards scheme should combine both appreciation and recognition to provide maximum worth to both employees and management who utilise these tools.