Recognizing Employee Achievements - A Must do Motivational Factor

Human capital is a valuable asset to every organization. It is very important to keep your employees happy and satisfied, as a major part of your business depends on the performance of your staff. You should always keep on motivating or encouraging your staff in different ways. Monetary returns can be considered as one of the important factors for recognizing employee achievements. However, an employee doesn't only look for financial benefits and gains but also likes to be appreciated and rewarded in multiple ways. The work of an employee should be recognized and he should be rewarded with opportunities like granting promotion, attractive wages, and incentives. By recognizing employee achievements, you make your employee feel that his work is being recognized and he feels respected. Many companies mainly concentrate on external activities like customer satisfaction and needs and market conditions etc; but professionally managed companies know how important employee satisfaction is for the well being of their company. Salaries and perks are the remunerations that an employee gets for his work but other than that he also deserves some additional rewards for his outstanding performance. This is the most important motivating factor for an employee as he feels that his efforts are been recognized and his hard work appreciated. Such employees prove to be a boon for the organization, as they work more dedicatedly, prefer to stick to their jobs; they tend to accept more and more challenges and responsibilities and sometimes may even refer other efficient people to their company. Recognizing employee achievements increases the efficiency level of the employee and this in return is very helpful as it reduces the cost of production and maximizes profit. An employee working in any organization at any level tries to perform to the best of his ability in order to complete the assigned work successfully. He likes if his work is acknowledged by his seniors and colleagues.  Research show that along with job security, salaries and wages, what an employee wants is recognition and trust of their LOB's or managers. If an employee is shown trust by his seniors or employers he is more likely to perform efficiently, meet goals and report higher satisfaction levels.  Recognizing employee achievements can be also done by increasing the autonomy. Let him have the freedom of making his own decisions and handle more responsibilities. If required one should arrange for special training programs for him to adhere the skills of performing the given responsibilities. The high achievers deserve to be recognized and receive a tap on their back from their seniors. Job promotions, salary appraisals too are quite effective methods to recognizing employee achievements. A satisfied employee is the most important asset of a company. You should always make sure that the people working in your organization get the deserved rewards and recognition for their extra ordinary performances; this also boosts the morale of the other employees working in your organization and encourage them to perform in a more productive way.