ORGANIZATIONAL MANAGEMENT 1

Employee Reward and Recognition Program

Student’s Name

Institutional Affiliation

Course Details

Professor’s Details

Submission Date
ORGANIZATIONAL MANAGEMENT 2

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).
ORGANIZATIONAL MANAGEMENT 3

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
ORGANIZATIONAL MANAGEMENT 4

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.
ORGANIZATIONAL MANAGEMENT 5

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-and-

samples/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