Many firms are opting to programs far related to money giving as their organizational reward system to their employees. This is a trend in the current market system which is seeing many firms making progress and maintaining their employees. The reasons for doing this are many. Through the implementations of the recognition programs as the way of rewarding employees, organizations are positively marketing themselves (Griffin, 2011). It is a way of branding themselves in the market. Therefore this helps them capture market attention as far as recruiting new employees and maintaining the current employees is concerned.
In addition to this, this model of rewarding employees is a way of encouraging and motivating employees to work hard and increase their productivity. Through these programs, employees feel motivated and recognized in the organizations they work in. they feel that they are treated as part of stakeholders in the organization and therefore strive to work hard to continue marketing their organizations as well as their skills for better rewards for their efforts (Miller, 2009).
Moreover, organizations have adopted this in order to gauge their employee preference and status in the market. Through the practice based on these programs, they are able to learn of how their trend in the market is viewed. As a result of this, they are able to employ techniques that are aimed at correcting their loopholes (Griffin, 2011). Therefore the programs are used as a problem resolution method by the organizations.
Miller, R. W. (2007). Principles of management. Boston, MA: Houghton Mifflin Co.
Griffin, R. W. (2011). Management. Mason, OH: South-Western Cengage Learning.
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