Employee recognition efforts is what we define as growth, reward employees both individually and collectively for their contributions to the organization. Recognition can take various forms, formal and informal, monetary and non-monetary. By acknowledging employee efforts and making them feel valued and appreciated, organizations can increase employee satisfaction, morale, and self-esteem. Additionally, the organization itself may benefit from greater employee engagement and productivity, lower turnover and the ability to attract and retain top quality employees.
Ways of recognizing employee contributions include:
- Fair monetary compensation
- Competitive benefits packages
- Acknowledgement of contributions and milestones
- Performance-based bonuses and pay increases
- Employee awards
- Recognition ceremonies