Companies today are expected to develop compensation systems that go beyond the paycheck. Organizations must offer opportunities for employees to be rewarded and appreciated for their contributions and performance. Employees not only want to be paid fairly based on their knowledge, skills, abilities, and overall contributions to the company; they also want to feel valued. They want to know their efforts are recognized and appreciated. They want to know if they put forth that extra effort and exceed their performance goals, that there will be an appropriate reward in the end.
Watch the following video, “Employee Recognition,” to learn a bit more about why employee recognition is important.
'Going Beyond the Paycheck' means employers today must do more than pay a fair wage to employees for their work. We must go further. Employees seek out companies where the mission statement matches their own professional goals, and the corporate culture creates a sense of personal belonging.
Discussion Topic
In your original post, answer the following:
- Think about your current or previous job. List all the ways in which this employer rewards and recognizes employees.
- Share an example of a time that you were recognized or rewarded for your contributions. Discuss how it made you feel and if it motivated you. If you have never been recognized, explain how that makes you feel and how it might impact you if you were to be rewarded and recognized.
- Identify one improvement the company can make to better reward and recognize employees and explain how it would benefit the organization.