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Employee Reward and Recognition Program
Roni Morgan
American Miliatry University
MGMT 311
Shane Nelson
December 25, 2022
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My idea for increasing motivation within the company is to implement a rewards and
recognition program. This program would involve regularly recognizing and rewarding
employees for their hard work and contributions to the company. Research has consistently
shown the importance of motivation in the workplace. Motivated employees are more likely to
be engaged, productive, and committed to their work, leading to better outcomes for both the
company and the employee. For the company, motivated employees can lead to increased profits,
improved customer satisfaction, and a more positive work environment. For the employee,
motivation can lead to increased job satisfaction, higher levels of achievement, and a sense of
accomplishment and pride in their work.
There are several different ways to increase motivation within a company, but one
effective method is through the use of rewards and recognition programs. These programs can
take many forms, such as financial incentives, promotions, praise and recognition from superiors,
or non-monetary rewards like time off or special perks (Schneier, 2017). One key aspect of a
successful rewards and recognition program is that it should be tailored to the specific needs and
values of the company and its employees. This may involve surveying employees to gather
feedback on what types of rewards and recognition they would find most motivating. It may also
involve setting clear criteria and goals for earning rewards, as well as consistently and fairly
recognizing and rewarding employees who meet those criteria.
There are several benefits to implementing a recognition and rewards program. For the
company, it can increase productivity, reduce turnover, and improve customer satisfaction. For
the employee, it can increase job satisfaction, morale, and loyalty to the company. One study
found that companies with recognition programs in place saw a 31% increase in productivity, a
75% reduction in turnover, and a 28% improvement in customer satisfaction (Smith, 2018).
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Similarly, SHRM (2019) surveyed over 1,700 employees and found that those who received
recognition for their work had higher job satisfaction and were more likely to stay with their
current employer.
In terms of specific ideas for our recognition and rewards program, there are several
options to consider. One idea is to have a monthly or quarterly award for the employee who best
exemplifies company values and has made significant contributions to the company. This award
could come with a monetary prize or additional time off. Another idea is to have a program
where employees can nominate their colleagues for recognition, with the top nominations
receiving an award. We could also consider implementing a points system, where employees can
earn points for completing certain tasks or meeting certain goals, and can then redeem those
points for rewards such as gift cards or additional time off.
Since the company’s increase in productivity and profitability are dependent on the
outcomes of these program, it will require careful planning and customization to ensure that it is
effective in motivating employees and it is delivering the desired benefits. The company should
also structure the program carefully and monitor it to ensure that employees are properly
recognized and rewarded for their efforts in a timely and appropriate manner (Schneier, 2017).
Additionally, feedback from employees should be regularly gathered to ensure that the program
is meeting their needs and that it can be adjusted or improved as needed. As a result the company
will enjoy the benefits of a focused group of employees all pulling in the same direction as the
company, thus resulting in valuable results for both the company and its employees.
Overall, implementing a rewards and recognition program is a promising idea for
increasing motivation within the company. This idea is supported by research showing the
importance of motivation in the workplace and the effectiveness of reward and recognition
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programs in increasing motivation. By tailoring the program to the specific needs and values of
the company and its employees and consistently and fairly recognizing and rewarding hard work,
it is likely that this idea will be successful in improving employee engagement and overall
outcomes for the company. Furthermore, it is important for the company to provide feedback and
recognition in a timely manner so that employees feel valued and appreciated. Creating an
environment where rewards are granted as a result of hard work may also motivate employees to
strive further and achieve higher goals, thereby advancing their careers as they increase the
company's profitability.
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References
Schneier, C. E. (2017). Capitalizing on performance management, recognition, and rewards
systems. Compensation & Benefits Review, 21(2), 20–30.
https://doi.org/10.1177/088636878902100203
SHRM. (2019). Managing Employee Recognition Programs. Employee recognition programs.
Retrieved December 25, 2022, from https://www.shrm.org/resourcesandtools/tools-andsamples/toolkits/pages/employeerecognitionprograms.aspx
Smith, C. L. (2018). Employee recognition. The Routledge Companion to Reward Management,
262–272. https://doi.org/10.4324/9781315231709-27