Significance of Reward and Recognition Programs

4. Retention: Rewards and recognition programs is the only key to keep the valuable employees onboard. Good employees are always in demand; therefore, they tend to quit the organization if they get a better offer. Therefore, employers should keep in mind that the reward and recognition is the only way which can prevent the valuable employees from resigning. If the employees feel that throughout the years he/she have been appreciated for his/her work then they will surely stick to their present job.

5. Culture of recognition:  The concept recognition tends to eradicate frustrations between employees.  If the employee is recognized and rewarded for his good performance no one will have the chance to blame the organization that it was partial to that employee. Likewise, there will be a culture created at the workplace where everyone will recognize and appreciate when somebody deserves to get a reward for his excellent work.