Apr 21 2021
“With a strong understanding of what employees want, designing your own Rewards and Recognition program isn’t too hard. ”
Rewards and Recognition have emerged in recent years as far more than just another corporate buzzword. In fact, it can be a real gamechanger, affecting the organisation at multiple levels.
Image Attribution: Freepik
The last decade, capped by the eventful year of 2020, has seen a slew of paradigm shifts in all areas of society, led by technology and globalisation. And the decade ahead doesn’t show any signs of slowing down:
This is where a strong Rewards and Recognition program can help. Properly designed, it can motivate individuals, enhance cross-department collaboration, and create cohesion among teams. But why is it that they can have such a powerful effect?
Rewards work because of simple brain chemistry. Any behaviour with a positive outcome causes the brain to release dopamine, the pleasure hormone, which when reinforced helps in cementing that behaviour. Reception of gratitude in any situation, not only the workplace, is associated with a release of dopamine creating a desire to repeat the recognized behaviour.
Multiple research reports back the claim that Rewards and Recognition benefit the organisation in many ways. We’ll highlight just a few here.
What can we learn from all this, and how can we make it work for us?
Just words of approval, at the end of the day are rather fleeting. To be honest, without the right kind of strategy in place, it isn’t particularly easy to motivate or even retain some of the best employees.
With a little knowledge of human psychology and brain chemistry, and a strong understanding of what your people want, designing your own Rewards and Recognition program isn’t too hard. In fact, on Darwinbox, the Indian manufacturer Aarti Industries implemented a Rewards and Recognition program in just 2 days.
Darwinbox has developed a Starter Kit that is meant to help organisations get a head start on launching their own Rewards and Recognition program, which can be downloaded here.
Image Attribution: Darwinbox
We leave you with some final advice to help you set up the perfect Rewards and Recognition program for your employees.
Chaitanya Peddi, a true subject matter expert of both HR and Technology, heads product & engineering at Darwinbox. His years of experience as an HR consultant has empowered him to understand the specific needs of the HR Tech market and build a world-class product that can not only optimally automate and simplify HR processes for enterprises enables HR to be a game-changing strategic function.
An XLRI alumnus, prior to Darwinbox, Chaitanya worked as an HR consultant with Ernst & Young and consulted global firms on organization design and performance management. Having worked in product development at Verizon and combined with his consulting experience, Chaitanya commands a rare vantage point in the HR tech space. Linkedin
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