This document outlines the key elements of an effective reward and recognition framework. It discusses the differences between rewards and recognition, and notes that lack of appreciation is a common reason employees quit. Research shows that improved recognition can boost employee engagement. The document then identifies common reasons recognition programs fail and the necessities of an effective framework, such as timeliness, frequency, specificity, visibility, and personalization of rewards. It emphasizes getting the right reasons, times, people, rewards, and results for optimal recognition.
4. Concerning Facts
Of employees quit due to 'Lack of Appreciation'
(Research conducted by O.C. Tanner Learning Group)
Of employees think 'Engagement' can be improved by giving
'More Recognition'
(Research conducted by Elwood Staffing)
Of organizations give managers tools to run an 'Effective
Recognition Framework'
(Research conducted by Aberdeen Group)
5. Need for Reward & Recognition
"Never forget, a person's
greatest emotional need is to
feel appreciated."
- H. JACKSON BROWN JR.
11. Necessities for an Effective R & R Framework
Timeliness
Frequency
Specificity
Visibility
Personalization
12. Necessities for an Effective R & R Framework
Timeliness
Reward and Recognition to be given as and when it is earned
13. Necessities for an Effective R & R Framework
Increasing frequency by not assigning Recognition initiatives to
distant milestones
Frequency
14. Necessities for an Effective R & R Framework
Clearly specifying what values, tasks and performance criteria
qualify for earning Recognition
Specificity
15. Necessities for an Effective R & R Framework
Recognizing individuals in a social setup magnifies the positive impact
Visibility
16. Necessities for an Effective R & R Framework
Personalizing the reward to the needs of the receipiant
Personalization
17. Modes of Reward and Recognition
Cash Rewards
Employee Awards
Vouchers
Certificates Social Recognition
Goodies
