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Employee Recognition

Human resource managers must continually come up with new and powerful methods of employee recognition. This is a vital part of retaining quality employees. If recognition is not given on a regular basis for good work, then employees begin to become dissatisfied with their jobs and start to look for new places to work. Studies have shown that praise, motivational leadership and positive recognition are just as effective in retaining good staff members as monetary incentives. However, employee recognition is more than just a pat on the back. Employees need to feel that they are truly valued, not that they are merely getting the occasional "good job" thrown at them. Employee recognition must be meaningful.

Bonus pay and other means of special financial compensation are excellent ways to recognize good employees. Annual or quarterly award ceremonies where plaques and gift certificates are given to top performers are also good. Some employers hold "contests" when it comes to production, with the staff member who produces the most work in a specified amount of time getting a desirable reward, such as a paid day off or a sought-after material item, like a plasma television.

Employee Recognition Through Monetary and Non-Monetary Compensation

Incentives for performance may be offered daily, monthly or yearly, depending on corporate culture and goals. Incentives may coincide with pay raises or be stand-alone events. Compensation consulting can help companies determine the right employee recognition packages for each unique corporate culture. Contact Fox Lawson & Associates, a division of Gallagher Benefit Services, Inc at jfox@foxlawson.com for compensation consulting for all business and government entities nationwide.

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