Corporate Corruption and the HRM Function: Legal, Ethical, and Moral Perspectives
February 12, 2025
Year 2001 goes into the annals of history as the most significant year of contribution made to YE through creation of Youth Employment Network, an initiative and partnership between United Nations, ILO and the World Bank. YEN was the outcome of the millennium summit that resolved to create and provide decent work opportunities for the […]
Everyone, right from a humanities graduate to an engineer or a commerce executive, aspire for an MBA degree. Just after the admission, students are taught main subjects, personality development, understanding human psychology as well as the functioning of the economy. A management degree not only helps to find a lucrative job but also makes you […]
Job description is all about collecting and recording basic job-related data that includes job title, job location, job summary, job duties, reporting information, working conditions, tools, machines and equipments to be used and hazards and risks involved in it. A job description may or may not have specific purpose. It depends on what HR managers […]
Why HR Professionals Must be Aware of the Laws of the Land Like all entities, corporates are expected to function according to the laws of the land and they must also follow the various rules and regulations that are in vogue in the specific countries and regions in which they operate. In recent years, noncompliance […]
Most of the organizations adopt a systems approach towards maintaining work-life balance. The systems approach primarily lay too much of stress on procedures, policies of the organization and benefits for addressing the issues related with work and life balance. But the system’s approach has its own limitations, as it ignores several important criticalities since work-life […]
Ask yourself the importance of a chocolate or a muffin to motivate your child to finish his homework or clean his room. Same way, the rewards and recognition can prove to be extremely beneficial to keep your employees motivated to perform extraordinary, achieve the targets and stick to the organization.
The power of employee recognition can not be underestimated especially when they have thousands of lucrative opportunities in front of them.
Who doesn’t want to attract, hire and retain the best talents of the industry?
Why not explore the new ways to foster employee motivation and drive them to achieve their targets then?
After all an organization’s performance is directly related to the performance of its human resources. This is a simple logic; if you make their day, they make your organization.
Employee rewards and recognition system is not just a positive thing to do with people but communicating it effectively is an efficient tool in encouraging them to create and bring business for you. Treating your employees like your assets and maintaining harmonious relationships with them doesn’t only yield business in present but also an effective strategy for future. Employers and management need to be pro-active to develop a talented and dedicated workforce that can take you to your goals.
Fulfilling employees’ needs, recognizing their efforts and presenting them with monetary and non-monetary rewards help you create a right workforce for your organization that can be your partner in success. Recognition of their efforts and boosting their morale results in increased productivity and decreased attrition rate. It is a proven fact that the motivated and dedicated workforce can change the fate of a company.
After all, human effort is the biggest contributing factor in success of any organization. It is just next to impossible to achieve organizational goals only by the efforts of top management. It’s the workforce who executes their plans and helps them achieve their financial as well as non-financial aims.
Establishing and implementing a reward system needs careful analysis of the company policies and procedures. Deciding how to recognize employees’ efforts and what to provide them requires thorough analysis of responsibilities and risks involved in a particular job.
Reward system of an organization should also be in alignment with its goals, mission and vision. Depending upon the job profile, both monetary and non-monetary rewards can encourage employees to contribute more to the organization.
A combination of monetary and non-monetary rewards can work wonders and drive employees to perform well continuously. A proper and efficient employee reward and recognition program can establish harmonious relationships between employees and employer.
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