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".

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