Rewarding Good Performance

Acknowledging and rewarding good performances improves employee satisfaction and increases the organization's productivity.

Friday, August 21, 2009

Explicit recognition must be part of the staff management strategy, as much as an adequate remuneration policy. Salary is not the only source of satisfaction for employees.

"The big problem in organizations is that most tend to confuse recognition with compensation. Most people do not correctly understand recognition and generally confuse it", affirmed Raciel Sosa, development director for Great Place to Work Institute.

The expert added: "There are two types of recognition, formal and informal. The first implies monetary or tangible things, and must be approved by the boss, while the second is a low cost one, and should be used to recognize good performance on a day-to-day basis. It can be implemented with minimum planning, and can be done with a thank-you card, an e-mail or unexpected public recognition".

More on this topic

The Best Companies to Work For

May 2009

FedEx Express is first, Kimberly Clark second, followed by Oracle Caribbean, SC Johnson, Diageo, McDonalds and Agrisal Group.

In the rankings elaborated by the Great Place to Work Institute of Central America and the Caribbean, FedEx repeated as the best company to work for within Central America and the Caribbean.

A Salary is not Just Money

February 2012

More than money itself, employees express more affinity and give more to those jobs where they manage to make an important connection with their environment.

The emotional power of salaries

By Manpower

Money is not everything when it comes to human resource management.

The State is Distorting the Labor Market

April 2015

In Costa Rica civil servants earn on average 150% more than workers in the private sector, which contributes decisively to the growth of inequality and lowers the overall competitiveness of human resources.

EDITORIAL

An article in Elfinancierocr.com reveals the wide gap between the hiring procedures and salaries between private companies and the State.

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