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Rewards and Recognition { RnR }
RnR stands for Rewards and Recognition. An employee reward and recognition program is a special program developed by companies to recognize employees for their contributions to the success of a business. Effective employee recognition programs help to attract and retain top talent, and ensure that employees feel valued, appreciated, and motivated to achieve company goals.
Types of Rewards
Following are the common methods of rewards that can be found in modern business organizations.
- Basic pay
- Additional hours rewards
- Commission
- Bonuses
- Performance-related pay
- Profits related pay
- Recognition
- Job enrichment
Benefits of Recognition
- Productivity
- Job satisfaction
- Employee happiness
- Retention
- Loyalty
- Team culture
