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What is an employee reward and recognition program?
An employee award and recognition program is a special program developed by companies to retain top talent and recognize employees for their achievements.
Why is employee reward and recognition important?
Recognizing employees for their contributions at work makes them feel appreciated and valued. This reinforces positive behavior while boosting morale, increasing productivity, and reducing employee turnover.
For Corporates :
1. Globally, employee recognition is a $46 billion market
2. Companies with happy employees outperform the competition by 20%
3. Employee turnover drops by 31% when staff feel recognized
4. Over 91% of HR professionals believe that recognition and reward make employees more likely to stay
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