Positive Effects of Employees Rewards & Recognition in the Workplace

Positive Effects of Employees Rewards & Recognition in the Workplace

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To anybody, 2020 was not an easy year. Although some businesses had to temporarily cease their operations but were successful in shifting to a work-from-home set-up, others were not. There are businesses, both small and big, that never recovered and said their official goodbyes permanently. These and all the other incidents brought on by the pandemic and isolation caused people, especially employees, to feel anxious and concerned about job security. Because what’s the worst thing that could happen? It’s losing your job while there’s still the pandemic.

So if you’re part of the company’s management and noticing a slight drop in the employees’ efficiency and productivity, you can suggest something like implementing or upgrading the employee rewards program. Although employee benefits in Singapore are already good, a rewards program may serve as an additional incentive to engage your employees as well as provide them with a positive working experience.

Understandably, you may be having second thoughts about applying for a program like this one and don’t see how it can be beneficial to your company yet. Please continue reading this article and see for yourself why you should have one right now.

Benefits of an Employee Rewards Program

Sir Richard Charles Nicholas Branson, an English business magnate and the founder of Virgin Group, once said :

“I have always believed that the way you treat your employees is the way will treat your customers and that people flourish when they are praised.”

Inspiring words from an inspiring and extremely successful man, indeed.

Appreciation is the way you let the person know that you value them and acknowledge the hard work they put in. It can come in the form of a company-wide recognition, providing gifts for employees, and so on – it differs from company to company, but the thought is the same. Not doing so can be detrimental to the company’s operations. Employees may feel disengaged and show poor performance, which is not a good thing.

1. Employees become more motivated.

Employees are motivated to work and give their very best because they know that their efforts don’t go unnoticed. They become happy and contented because they know that what they’re doing, no matter how big or small it is, is making a difference for the company. A strong relationship with your employees keeps them motivated to perform at their very best.

2. Employees have better engagement with the company.

Employees should be viewed as the most important asset of the business. If the company wants to survive and thrive, then it should learn to keep its workforce energized, committed, and engaged. While great company benefits may cause the workforce to stay longer, it’s still possible to resign and work for another company. Avoid this by making sure that they feel engaged all the time. Recognize their strengths to keep them engaged and not their weakness because the latter will only cause them to feel disengaged. Let them know why they’re a great part of the team. This will help keep their mental health up especially during the pandemic and they’re worried about job security.

3. Employee recognition helps enhance company culture.

The pandemic may not have happened, but it doesn’t mean that your employees will not feel disengaged. If you want to enhance the culture in your company, make sure that not only does your employee love what they’re doing but that you’re recognizing the work that they do. The recognition, may it be simple, will go a long way in keeping them happy, and therefore, put their best every day as they work.

4. Recognition can help promote better employee retention.

If your company has poor employee retention, then you have got to get to the bottom. Or else, you’ll be losing your best-trained staff to the competitors. One approach that your company can do to improve employee retention is through rewards.

Now is the time for your company to consider employee rewards for your workforce. You’ll see eventually the positive effects it has on the overall work performance and mental health of your employees.