REWARDS AND RECOGNITION

Business environments nowadays are getting more and more competitive. With the rise of similar companies with similar services and products, competing with them in terms of human resource is difficult. I remember, my experience in one of the multi-national Architectural Firm in Makati. With so many firms in the same industry in the city, employees just come and go. The question now is how can we keep these talented and hard to find talented manpower?

Rewards and Recognition are only a few of the answers. However, it should be implemented sincerely and effectively in order to achieve its best effect. Managers and team leaders should support one another in implementing this program. A culture or environment of trust has to be set-up prior to its orientation and full implementation so that in the end the following can be attained:

·         Employee Satisfaction

·         Employee Engagement or Loyalty especially of outstanding staff

·         Continuous learning

·         Positive work environment

·         Professional growth and development

PRINCIPLES IN THE IMPLEMENTATION OF REWARDS AND RECOGNITION

In order to be more effective , the following should be applied in administering this reward system:

·         Management should be true or genuine in giving the rewards to employees. It is not just to give but simply, more on recognizing their efforts in trying their best to contribute to the company’s success.

·         It should be a ceremonial one not just an ordinary gift giving. Make the day a memorable one to the staff who are witnessing the said event in order to motivate them, too to do the same as the awarded employee.

·         Lastly, it shouldn’t be exaggerated. Frequent evaluation of the program’s effectiveness must always be executed in order to study and know its flaws then, at the same to make some improvements, if needed so.

PURPOSE OF REWARDS AND RECOGNITION

·         To keep top employees in a competitive job market

·         To increase employee performance

     SAMPLES OF REWARDS AND RECOGNITION

·         No tardiness/no Late/ No Absent – Perfect Attendance Award

·         Achiever award for successfully implementing a new work or challenging special duty within the specified period of time.

·         Dangal ng company award – for a commendable virtue such as honesty and integrity.

·         Loyalty Award – as a recognition for over 5 years of service in the company.

All these awards are most effective when coupled with cash equivalent. So it’s up to the HR Department on how they can make a valuable mechanism for the system to become operational and of use and importance to the human resources.