Employee Recognition Programs

Employee Recognition Programs

Reasons That Companies Design and Implement Recognition and Reward Programs

Employee recognition and benefits programs enhance employee engagement in the company, which boosts employee performance and retention. Research among employees across most industries; shows that recognition is the best way for managers to influence employees to perform better (Biswas, 2014). These programs improve performance because they always focus on the positives, thus assuring employees that they are on the right track.

Another benefit of employee recognition and benefits programs is motivation boost. By assuring employees that they are on the right track, employees will collaborate to achieve team goals (Biswas, 2014). Besides, rewards will encourage them to do things right again and again. Additionally, benefits programs encourage colleagues to engage in healthy competition, which ultimately boosts overall performance.

Best Practices That Should Be Incorporated in a Program to Recognize and Reward Employees

There are best practices that are key to ensuring that recognition and benefits programs are effective. First, there should be clearly defined criteria and objectives for the program. That can be done by involving employees during the program’s inception or updating stage. Also, organizations should use a multifaceted reward system for such programs. Although most employers assume that employees are only interested in monetary tokens, research suggests that even simple praise positively impacts employee performance.

Recommendations to Improve The Employee Recognition Program

Apart from offering employees a good salary, Samsung has comprehensive benefits programs. However, these benefits are not uniform across all subsidiaries, making employees from some regions feel less appreciated (Samsung, 2021). The company should adopt a flexible reward system that allows employees to choose their preferred programs. Also, Samsung needs to improve its employees’ health and wellbeing programs. That will keep its employees engaged since healthcare is quite expensive, especially in impoverished countries.

Aspects of Samsung’s Employee Recognition Program Would I Like to See Implemented in My Company

One unique benefits program in Samsung that should be incorporated into Walmart’s benefits structure is the pensions program. Samsung has a solid pension awareness program that provides employees with education relating to post-employment benefits (Samsung, 2021). The company uses pension champions who educate peers in matters pertaining to pensions.

References

Biswas, B. D. (2014). Employee Benefits Design and Compensation (Collection). FT Press.

Samsung  (2021). Samsung | Success Story | Reward Gateway UK. Www.rewardgateway.com. https://www.rewardgateway.com/uk/case-study/samsung-employee-discounts

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Instructions
Conduct research on a company other than your own (not Walmart) to compose a comprehensive summary (275-400 words) to discuss each of the following questions:

Discuss three (3) reasons that companies design and implement recognition and reward programs and explain how positive recognition benefits employees and companies.

Identify the best practices that should be incorporated into a program to recognize and reward employees.

Based on the company you selected, what recommendations do you have to improve their employee recognition program? Provide justification for how your recommendations would benefit the employees and the company.

What aspects of this company’s employee recognition program would you like to see implemented in your company? Provide justification for how your recommendations would benefit the employees and the company.