Definition
Reward and recognition
Rewards and recognition refer to a practice used by organizations to acknowledge and appreciate the contributions of employees.
Companies use rewards and recognition to motivate employees and demonstrate that they are appreciated. Often, rewards and recognition take the form of extra compensation for employees who carry out the activities in their role description and meet their objectives. Rewards and recognition can also be given for team-based accomplishments or for meeting project-based targets.
Rewards and recognition have many uses, but in general they help:
- Shape employee behaviour and work ethic
- Give employees the opportunity to share in the benefits of their work
- Make employees feel like an integral part of the company
Examples of employee rewards and recognition
Showing appreciation does not have to be expensive. A business can ensure its employees feel valued and seen in many ways. Here are some examples of rewards and recognition you could consider for your employees:
- acknowledgement in a company newsletter or during a team meeting
- celebratory meals
- recognition awards
- bonuses
- gift cards
- extra vacation days
- customized merchandise