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Employee Recognition is a one-time action or consistent systematic practice (a program) by which an employer appreciates and acknowledges the efforts or achievements of an employee. Employee Recognition is a practice including tangible and intangible rewards, which plays the major role in staff motivation and one of the key roles in HR matters such as:
- Employee Retention (an employee’s level of loyalty to the company);
- Employee Satisfaction (how well an employee is pleased with terms of employment, etc);
- Employee Productivity (an employee’s ability to produce a good level of results);
- Employee Performance (an employee’s adherence to proficiency and the best standards);
Tangible methods of Employee Recognition include:
- Regular Wages;
- Results-related Fees;
- Bonuses;
- Valuable Gifts;
- Souvenirs;
- Benefits (Social and Corporate);
Intangible methods of Employee Recognition include:
- Professional Reputation;
- Thanks and Praise;
- Sense of Content;
- Sense of Achievement;
- Sense of Advancement;
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