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With the recession affecting corporate companies across the country, more often than not one of the first areas to be neglected in corporate is employee recognition. Cutting costs may look good on the yearend balance sheet, but can have dire consequences to retention, hiring and the long term success of a company. Rewards and gift are not limited to monetary means only, and can include several non monetary practices that can increase the productivity and moral of employees. When a company wants to motivate its employee’s, rewards and recognition are given or when employees have achieved goals they should be rewarded which in turn will give them incentive and motivate them. Such rewards can vary, but they will still convey the same message of motivating and distinguishing staff members. Such incentives can be given at any time, just as long as they are in line with the company’s goals and mission. When such awards or gifts are implemented, corporate gifts and employee awards Sydney help aid a company in the pursuit of operational and strategic goals. In an economic decline millions of businesses are competing for customers, and must be able to properly compensate and motivate their customers and employees, or risk falling behind their competitors. Even worse, if employees have not been given recognition, they may leave to work for competitors. Businesses need to understand the human need for motivation and acceptance and how recognition and rewards help in meeting these needs. People thrive on acceptance which is universal and can be seen in every stage of life. The reality of being accepted, allows people to excel and become their best, and this provides people with a sense of belonging and approval. Acceptance plays an important role in helping people reach their full potential in the workplace and at home. Being accepted not affects one’s personal life but also in the workplace, as the work place should not be about difficulties and stress. An employee that is recognized and rewarded in the workplace becomes free to creatively engage and help in advancing the company’s vision and mission. Rewards and acceptance help employees gain more job control, in terms of better performance and mental health. Rewards, gifts and recognition are distinct and represent a fundamental duality when it comes to human motivation. The most significant thing about recognition and rewards in the workplace is intention, as both have different meanings, although both rewards and recognition have their place in acknowledgement and employee compensation. Reward means giving something in return for something well done, that includes compensation for services or remuneration.
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