Employee Recognition & Rewards Trends in 2021

 Employee Recognition & Rewards Trends in 2021

Employee recognition is one of the most important aspects of an organization in modern times. It is the acknowledgment of an employee’s contribution to the organization and the hardship that he has faced.

Post pandemic it has become more important than ever as the set of challenges that the workforce has faced has evolved into something entirely different.

Engagement and recognition are very closely tied and research has proven that an engaged employee is 2.6 times more likely to work in an organization with an active peer-to-peer recognition program. When employees feel engaged everyone in the organization wins.

So what are the ways in which you can recognize and engage your workforce?

  1. Support equality and unity

We all know how true it is that employees are the driving force behind any successful organization. The previous year has taught us many valuable lessons when it comes to recognition and employee satisfaction.

With the advent of The Great Resignation of 2021, this is more important to understand than ever before. A successful rewards and recognition program helps support employees by making them feel like a bigger part of the organization.

Engaging employees and rewarding them for their hard work makes them feel included and motivates them further to work harder for the success of an organization that believes in them and cares for them.

  1. Holistic rewards

An employee can’t function at their highest level unless they believe that they are being well taken care of. The responsibility of making sure this happens is in the hands of the employer. When creating a rewards and recognition program you need to understand the ongoing rewards and recognition trends.

One of the best things you can do to boost your employee engagement is to provide your employees with rewards that are useful to them, these could range from health checkups to office equipment if your employees are still working from home.

  1. Recognition and a sense of belonging

When employees believe that their work is meaningful and matters they are more motivated to work harder. When employees are shown how their work contributes to the larger goals of the organization they are more likely to be highly engaged with what they are doing.

Employers need to recognize the areas where an employee has worked and improved upon and appreciate them for the same. When employees are publicly appreciated for their efforts it motivates other employees to do the same.

  1. Anticipate future trends in gifting

As post-pandemic most of the world has shifted into a work-from-home environment the trends for corporate gifting have evolved as well. An emerging trend in these times are digital gift cards for one very important reason, they give employees freedom. Gift cards give employees the freedom to choose what they want as a reward for their performance.

When an employee receives and uses a gift card on a product that he genuinely desires he feels a greater appreciation for the same, this gift would also mean a lot more to them than a generic mug or a T-shirt that every employee might be receiving, it adds a touch of personalization to the reward.

Gift cards are timeless because even with changing trends they become neither obsolete nor outdated.

  1. A flexible and inclusive rewards catalog 

Having a catalog is very important as it tells employees what they are working for. If there is a list of items on the catalog of rewards an employee will work harder to fulfill his wish list through the same. This is why the rewards catalog for your organization needs to be flexible and inclusive as it needs to cater to every employee.

Recognition is incredibly important in order to keep employees engaged. We are aware of the fact that engagement is becoming one of the most important aspects of retaining an employee and must be given its due importance. Employee recognition and employee engagement are the new foundation pillars of any successful organization.

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