11+ Strategies for Recognition and Rewards Programs [2023] (2023)

Table of Contents:

  • What are recognition and rewards programs, and how do they work in the business world today?
  • How can recognition and rewards programs benefit your company and employees?
  • Recognition and reward programs software
  • 5 unique strategies for recognition and rewards programs
  • Tracking recognition and rewards programs metrics
  • 6 tips for running recognition and reward programs

What are recognition and rewards programs, and how do they work in the business world today?

Employee recognition programs are a way to incentivize employees and boost morale. These programs provide public recognition in the form of praise and positive feedback. Recognition is combined with an employee reward, such as bonuses or gift cards, for workers who meet certain performance standards.

It’s important to note that recognition and rewards are not the same things - recognition is given to reinforce behaviors, while rewards serve as an incentive for new actions. It is important to utilize both of these components to fully motivate and engage your workforce.

As for how effective an employee recognition program is – research shows that well-implemented programs increase employee motivation by up to 20 percent. An employee rewards program also lead to higher productivity and job satisfaction. Ultimately, it is clear that en employee recognition program can be very valuable in today's business world if implemented strategically with employee value in mind.

How can recognition and rewards programs benefit your company and employees?

Employee recognition programs are a great way to increase employee satisfaction and morale in the workplace. With the right incentive program, employers can show appreciation for hard work, reward collaboration, and create improve the overall employee experience at their company. The benefits of these programs include higher levels of employee engagement and productivity, fewer turnover rates, and improved relationships between team members.

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Recognition awards have been shown to greatly increase employee loyalty. Workers stay at companies where they feel valued, and begin considering other options when they feel that their work is not noticed. Since a career is such a large part of a person's life, employees need to feel a sense of emotional security in order to experience job satisfaction. If you want a committed workforce, you have to show them that they matter.

Employee turnover is a costly issue for businesses of all sizes. Every time an employee leaves, the company has to invest in recruiting and training a new hire. The cost of replacing just one employee can range from tens of thousands to hundreds of thousands of dollars, depending on their seniority level and position. It’s important for employers to understand the financial implications that come with high turnover rates so they can take steps to reduce them in the future. Employee recognition programs easily pay for themselves just by increasing employee retention.

Productivity can mean the difference between success and failure for any business venture. Implementing a recognition and rewards program is one of the easiest and most cost-effective methods of drastically increasing employee morale and productivity. When companies invest in strategies that improve their productivity, they can reap the rewards with higher ROIs.

When choosing the perfect employee reward program for your company, it's important to consider how it will fit into your budget, how you want your employees to be rewarded, and what level of involvement your staff will have in deciding which rewards are available. With the right employee recognition program in place, regular positive feedback from management and peers will encourage employee engagement. This ultimately leads to increased profits for the organization.

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Recognition and reward programs software

Employee recognition and reward software programs are becoming increasingly popular in today's tech-savvy business world. These sophisticated systems enable organizations to easily recognize and reward their staff, ensuring that great work is noticed and appreciated. Organizations benefit by having a system in place that helps engage employees, promote collaboration, and increases productivity.

By automating the entire social recognition and service award process, rewards can be delivered with ease and distributed efficiently. This type of software allows businesses to implement their employee incentive programs with ease. Using software systems is much more cost-effective than manual administration. This helps businesses budget for rewards without breaking the bank.

Matter is a recognition and rewards app inside Microsoft Teams and Slack. Co-workers are encouraged to give each other Kudos in the team messaging channels, and these kudos can be customized to reflect company values or performance goals. Feedback Friday is another feature of Matter, where employees are encouraged to provide feedback to each other on Fridays. Employees win points based on custom metrics and can exchange those points for gift cards or custom prizes.

5 unique strategies for recognition and rewards programs

It is important that your program offers something unique that sets it apart from other reward systems. When you create a rewards system tailored specifically to the wants and needs of your employees you will motivate them to strive for greatness! Some unique ideas for employee appreciation rewards include:

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  1. additional vacation days
  2. free lunch or coffee at work
  3. flexible scheduling options
  4. ticket vouchers for local attractions
  5. a special parking space

Another option for personalization is to give your employees points that they can redeem through an online rewards catalog. Many employees like the freedom of gift cards. They can choose the store that they would like a gift card from, they can use the gift card whenever it is convenient, and they can choose what they want to buy.

A combination of rewards that are unique to your company and a "pick your own rewards" catalog provides a well-rounded approach to employee motivation. Matter can help you to implement both of these strategies, as well as create a culture of recognition and feedback within your organization.

Tracking recognition and rewards programs metrics

Tracking metrics is an important aspect of understanding the effectiveness of a rewards system. Through tracking and analyzing various metrics, organizations can measure the effectiveness of their program and make necessary changes to drive better results. Metrics that are typically tracked include employee engagement, satisfaction, productivity levels, employee turnover rates, recognition frequency, and the number of awards given.

Software tools provide employers with detailed insights into how their rewards system is performing, allowing them to make necessary adjustments or changes accordingly. By having access to this information at any time through a software platform like Matter, businesses are able to better understand what works best for them when it comes to rewarding employees.

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Another benefit of using software systems for tracking recognition and reward metrics is that they simplify the process by automating most tasks associated with monitoring performance feedback from both management and peers. This helps ensure that great work isn't going unnoticed or unrewarded while enabling teams to collaborate more effectively on projects together without worrying about who gets what credit or acknowledgment for their contributions.

6 tips for running recognition and reward programs

Creating and running a successful recognition and reward program can be a daunting task. It requires careful planning, thoughtful implementation, and ongoing monitoring to ensure that employees are engaged with the program. A well-designed rewards system can help create an environment of trust, collaboration, and motivation within your organization.

  1. Giving employees points they can redeem through a reward catalog lets them choose whatever reward suits their needs best.
  2. Create additional rewards that are unique to your company, such as additional PTO or flexible scheduling options.
  3. Tracking metrics such as KPIs, employee engagement levels, and satisfaction ratings will help you measure the effectiveness of your rewards system.
  4. Software platforms are extremely useful when running recognition programs because they automate tasks associated with monitoring performance feedback, giving rewards, and tracking metrics.
  5. Peer-to-peer recognition is more important to employees than management recognition. It is important to design a strategy that incorporates both types of feedback.
  6. Frequent recognition is very important, longer feedback cycles are associated with poor employee engagement.

If you're thinking of implementing a recognition and reward program in your own business, be sure to keep the following things in mind: what type of program will work best for your company, what budget you have to work with, and what goals you hope to achieve by implementing the program.

Do some research on different programs available and talk to other businesses who have experience with them before making a decision.

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When implemented correctly, these programs can improve employee morale, motivation, and productivity - all of which can lead to increased profits for your company. Once you've decided on a plan, get your employees involved and excited. Creating a recognitions and rewards program could make this your best year so far!

Matter is the best recognition and rewards program for companies that use Slack or Microsoft Teams. If you have any questions about recognition and reward programs that haven't been answered here, please feel free to reach out - we'll be happy to help!


What are the 3 elements of the reward and recognition program which bring the values to life? ›

Modern employee reward and recognition programs contain elements of their predecessors, but focus more on motivating and celebrating employees every day of the year. Over 80 years of research shows that employees crave three things to be motivated at work: Respect, purpose and relationships.

What are the best reward and recognition programs? ›

There are many small and simple ways to show your employees that the organisation recognizes them and cares for them.
  • Birthday celebrations. ...
  • Peer-to-Peer Appreciation. ...
  • Monthly newsletters with employee success stories. ...
  • Give a Shout-Out. ...
  • Family Invites. ...
  • The performer's HAT. ...
  • Introduce employees to the Top Brass. ...
  • Sticky Note.

How do you motivate employees through rewards and recognition? ›

Top 5 ways to increase employee motivation using Rewards in 2022
  1. Ensure that employees understand and appreciate the rewards as worth the effort. ...
  2. Make sure that employees understand how to earn the rewards. ...
  3. Make your rewards a mix of both monetary and non-monetary. ...
  4. Match the reward to the employee for that perfect fit.
Jan 5, 2021

What are employee recognition programs examples? ›

Employee recognition programs are methods of recognizing the accomplishment of deserving employees or teams in a company. Examples include gift cards, company outings, and anniversary celebrations. These activities aim to boost workers' morale, retain talent, and create a bond between workers and the organization.

What are the 4 types of reward systems? ›

4 types of employee reward systems
  • Monetary. You can create a reward system based on monetary compensation, like a bonus. ...
  • Non-monetary. For teams that prefer perks other than bonuses, a non-monetary rewards system may help motivate them. ...
  • Assistance. ...
  • Recognition.
Jan 3, 2022

What makes a successful recognition program? ›

An effective employee recognition program should praise behaviors that are aligned with the goals and objectives of your company and create an experience that encourages employees to increase productivity and stay at your company. It should also be fair and valuable to employees.

What are five examples of rewards? ›

Examples of rewards that are this category usually include:
  • Bonus. A bonus is a financial incentive that employees receive in addition to their set salary or wages. ...
  • Profit-sharing. ...
  • Stock options. ...
  • Merit pay. ...
  • Fringe benefits. ...
  • Public recognition. ...
  • Paid leaves. ...
  • Professional development training.
May 2, 2022

What are the three main ways of rewarding employees? ›

The 3 Key Types Of Rewards
  • Intrinsic rewards: Rewards that are non-tangible but results in higher levels of job satisfaction. ...
  • Extrinsic rewards: Tangible rewards that staff receive upon doing a good job. ...
  • Financial rewards: Positively adding to the overall employees' financial status.
Dec 24, 2020

What are 2 ways that you can provide recognition and rewards for team achievements? ›

Photos courtesy of the individual members.
  • Give Out Prizes At Company-Wide Celebrations. ...
  • Use Your Company Communication Platform. ...
  • Give Continual, Spontaneous Positive Feedback. ...
  • Make Shout-Outs A Part Of Your Regular Team Meetings. ...
  • Have A Monthly Peer-Nominated Award. ...
  • Thank The Employee's Family Members.
Dec 4, 2018

What type of recognition motivates you the most? ›

Personal recognition strengthens the bond between the recognizer and employee being recognized. An Aon Hewitt survey of millennials found that they are most satisfied when recognized with thank you notes and verbal thank-yous. The best part? Personalized recognition is easy to achieve.

What 5 training programs should be conducted to employees? ›

Employee Training Types for Today's Workforce
  • New Employee Orientation. ...
  • Onboarding. ...
  • Team Training. ...
  • Leadership Training. ...
  • Senior Executive Training. ...
  • Diversity, Equity, and Inclusion Training. ...
  • Technical Skills Training. ...
  • Soft Skills Development.
May 17, 2022

What are the 2 types of reward? ›

There are two types of rewards—tangible and intangible. Tangible rewards are money, vacations, and material objects. The best way to use money as a reward is to give a specific amount as a bonus directly related to the performance of a task or the achievement of a goal.

What are the three main objectives of reward programs? ›

The following are among the most important objectives:
  • To support the goals of the organisation by aligning the goals of employees with these.
  • To ensure that the organisation is able to recruit and retain sufficient number of employees with the right skills.
  • To motivate employees.

What are the 2 types of rewards and give each an example? ›

Intrinsic versus Extrinsic Rewards

Some examples are- an impressive job title, career growth, personal achievements, praises, etc. Extrinsic rewards are tangible rewards that employees receive upon doing good work. It includes bonuses, raises, gifts, etc. Intrinsic rewards make employees feel valued in a company.

What are the 3 types of recognition? ›

There are three types of recognition that you can use to help your employees reach those goals: day-to-day, informal, and formal. This type of recognition gives immediate feedback on performance.

What are the challenges in rewards and recognition? ›

How to overcome the top recognition and reward frustrations
  • Timing – It's either late or doesn't happen. ...
  • Visibility – When recognition and reward happens behind closed doors. ...
  • Relevance – If you recognize anything and everything, it ends up meaning nothing. ...
  • Disappointment – Meaningless rewards are not rewarding.

What is reward and recognition strategy? ›

Reward and recognition

Companies use rewards and recognition to motivate employees and demonstrate that they are appreciated. Often, rewards and recognition take the form of extra compensation for employees who carry out the activities in their role description and meet their objectives.

How do you give good recognition? ›

8 Small But Powerful Ways To Recognize Employees
  1. Give Shout-Outs. ...
  2. Offer fun projects or professional/personal development opportunities. ...
  3. Take them to lunch. ...
  4. Distribute non-cash rewards. ...
  5. Loosen the reins. ...
  6. Throw a competition, party, or potluck. ...
  7. Encourage peer-to-peer recognition. ...
  8. Just say thank you!
Jan 25, 2023

What are some examples of recognition awards for individuals or teams? ›

12 employee award ideas
  • Recognition master award. The recognition master award is for the person who recognizes others on the team most often. ...
  • Most recognized employee award. ...
  • Exceptional listener award. ...
  • Excellent feedback award. ...
  • Coaching champion award. ...
  • Living by our values award. ...
  • Keeping us safe award. ...
  • Always growing award.
Jul 16, 2020

What type of recognition do employees want? ›

Genuine, personalized recognition helps drive engagement. Employees that feel valued by their managers are more likely to work harder, search for ways to improve and grow and stay with their organization.

What are the goals of a recognition program? ›

Recognition helps employees see that their company values them and their contributions to the success of their team and the company overall. This is particularly key when organizations grow or change. It helps employees build a sense of security in their value to the company, motivating them to continue great work.

Why do recognition programs fail? ›

Outdated methodology, flawed praise and inconsistent employee recognition are the top three ways in which many employee recognition programs fail.

What is the main goal of the teacher recognition program? ›

The purpose of the Teacher Recognition Program is to amplify best practices in social-emotional learning and character education within the early childhood teacher workforce (birth – age 8) by recognizing and sharing the expertise of notable teachers with the wider education community.

How do rewards motivate students? ›

Incentives for students motivate them to be more productive because they create a feeling of pride and achievement. Being successful makes you happy. Every success story helps students become more self-confident. They are proud and also encouraged to achieve another successful result.

What are the reward strategies? ›

A reward strategy is used to encourage employee loyalty and behaviours through a comprehensive package of motivating benefits and bonuses; put in place by employers and HR departments in order to reward employees for achieving specific goals.

What are the 4 factor rewards? ›

The four factors of production are land, physical capital, human capital, and entrepreneurship. The reward for land is rent, for capital is interest, for labor or human capital is wages, and for entrepreneurship is profit.

What rewards motivate employees? ›

Top 15 non-monetary rewards for employees
  • Flexible working. ...
  • Give employees time to work on their own projects. ...
  • Extra leave. ...
  • Allow time to do volunteer work. ...
  • One-on-one meetings. ...
  • Give employees chance to show appreciation for each other. ...
  • Reward employees with more responsibility.

What kind of rewards employees prefer the most? ›

Verbal Praise

One of the simplest and most effective rewards you can offer is positive feedback—the acknowledgement of a job well done. Verbal praise clearly demonstrates that you notice and appreciate a team member's hard work.

Which are the three most important awards and recognition? ›

Bharat Ratna- 1st degree of honour. Padma Vibhushan- 2nd degree of honour. Padma Bhushan- 3rd degree of honour.

What are 5 exciting ways to reward your team? ›

Here are 9 low-cost ways to reward employees:
  • Express thanks with a public thank you. ...
  • Give a hand-written note. ...
  • Offer time off. ...
  • Give small gifts. ...
  • Cover commuting costs. ...
  • Offer chair massages. ...
  • Feature top employees on your company blog or newsletter. ...
  • Schedule an all-company activity.

What is one action you will take to improve rewards and recognition? ›

Engender a firm-wide culture of reward and recognition

Lead by example and encourage team members to recognise and applaud each other's achievements, however small. Spontaneous, ongoing appreciation from any part of the company can be as effective as bigger, more formal awards.

What are the three keys of motivation? ›

Components of motivation

There are three major components to motivation: activation, persistence and intensity. Activation involves the decision to initiate a behavior, such as enrolling in a psychology class. Persistence is the continued effort toward a goal even though obstacles may exist.

What are the 4 basics of motivation? ›

The research by Nohria, Groysberg and Lee shows that employees are only truly motivated when all four needs (possessions, commitment, comprehension and protection) are met at the same time.

How would you inspire a struggling employee? ›

6 tips to motivate employees
  1. Understand the problem. Never assume you know why an employee is performing poorly, struggling or seems to be kind of checked out. ...
  2. Timing is everything. ...
  3. Validate their concerns. ...
  4. Be specific – and empathetic. ...
  5. Move forward together. ...
  6. Follow up and recognize growth.
Jan 12, 2022

What are your 3 biggest motivators? ›

But it turns out that each one of us is primarily triggered by one of three motivators: achievement, affiliation, or power. This is part of what was called Motivation Theory, developed by David McClelland back in 1961.

What are the top 5 motivators? ›

There are 5 consistencies when it comes to workplace motivators:
  1. Provide Meaningful and Challenging Work. ...
  2. Improve Employees' Lives. ...
  3. Recognition. ...
  4. Compensation & Benefits. ...
  5. Culture.

What is the best form of recognition? ›

Written praise

Written praise such as a thank-you letter or email message offers a tangible and personalized note of gratitude and recognition. This form of recognition is easy to produce and offers words of affirmation that assure employees of the impact of their contributions.

What are the five most important skills for employees to have or attain? ›

Top 5 Skills Employers Look For
  • Critical thinking and problem solving.
  • Teamwork and collaboration.
  • Professionalism and strong work ethic.
  • Oral and written communications skills.
  • Leadership.

What are the 3 types of employee training? ›

Being familiar with these basic types helps teams focus and more easily land on the structure of the curriculum, especially when I point out that there are really only three types of employee training that they need to address— new job training, developmental opportunities, and transitional training.

What are the four main types of training? ›

These types are usually used in all steps in a training process (orientation, in-house, mentorship, and external training). The training utilized depends on the amount of resources available for training, the type of company, and the priority the company places on training.

What are the 3 general components of total rewards? ›

Total reward may include some, or all, of the following elements as well as traditional elements of pay and benefits packages: Flexible benefits. Access to professional and personal development. Meaningful work.

What are the 3 major approaches in reward and compensation management? ›

Compensation and Reward Management – 3 Major Approaches: Bargaining Approach, Traditional Approach and Contemporary Compensation Approach.

What are the 3 social rewards? ›

The three C's of customer social rewards: Community, Comparison, and Charity. It's been said that the greatest gifts are those shared with others.

What makes a good reward strategy? ›

So, what makes a good reward strategy? A good reward strategy revolves around offering a variation of rewards to attract different types of people. This can range from monetary rewards to work/life balance rewards.

What are the 6 steps in formulating a total rewards program? ›

How do you create a total rewards strategy?
  • Assess what you already have in place. ...
  • Gather employee feedback. ...
  • Include the leadership. ...
  • Identify your goals and priorities. ...
  • Align the strategy with your values and culture. ...
  • Make total rewards balanced, flexible, inclusive, and fair.

What is the main goal of reward strategy? ›

A reward strategy is used to encourage employee loyalty and behaviours through a comprehensive package of motivating benefits and bonuses; put in place by employers and HR departments in order to reward employees for achieving specific goals.

What are the two types of rewards? ›

There are two types of rewards—tangible and intangible. Tangible rewards are money, vacations, and material objects. The best way to use money as a reward is to give a specific amount as a bonus directly related to the performance of a task or the achievement of a goal.

What is the purpose of rewards and recognition? ›

Reward and recognition

Companies use rewards and recognition to motivate employees and demonstrate that they are appreciated. Often, rewards and recognition take the form of extra compensation for employees who carry out the activities in their role description and meet their objectives.

What are four formal reward and recognition programs you could use to motivate staff? ›

But there are a number of ways to attract and keep top talent, and to keep them happy and engaged while they're with you.
What kind of employee rewards should you offer?
  1. Social recognition. ...
  2. Career coaching and professional development. ...
  3. Additional flexibility. ...
  4. Gift cards and trendy items.
Feb 14, 2017

What are key reward principles? ›

One of the key guiding principles of strategic reward is alignment or “fit” of reward strategy with: organisational strategy, vision and culture. organisational processes (eg recruitment, performance management and employee development) workforce characteristics (eg knowledge workers v manual workers).

What are the key issues in reward management? ›

Challenges Of Employee Recognition & Reward Management
  • Compensation. No matter how much employee recognition a company performs, some employees will always feel unappreciated due to the lack of (monetary) compensation. ...
  • Benefits. ...
  • Recognition. ...
  • Criterion. ...
  • Performance & Behavior. ...
  • Reward types.

What are motivating types of rewards? ›

Ready to start rewarding and recognizing your workers? Learn about 6 methods that will keep employees engaged and motivated.
  • Contests and gamification.
  • Points systems.
  • Rewarding top drivers of success.
  • Public recognition.
  • Gifts and bonuses.
  • Peer-to-peer recognition.
Nov 25, 2020

What are the types of rewards for students? ›

Reward Ideas that are for Individual Students
  • Time in the reading corner.
  • Play with a puzzle.
  • Free time to draw.
  • Extra screen time.
  • Sit in a special chair.
  • Write with a special pen or pencil.
  • Take care of a class animal.
  • Eat lunch with your favorite friend.


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