Rewarding employees goes hand in hand with recognition. Rewards can be monetary or non-monetary and serve as tangible expressions of appreciation. The benefits include:
Increased Retention: Employees who feel appreciated are more likely to stay with the company, reducing turnover and associated costs. Enhanced Performance: Rewards can motivate employees to maintain or improve their performance, leading to better business outcomes. Positive Organizational Culture: A culture of recognition and rewards fosters a supportive and positive work environment. Attracting Talent: A company known for recognizing and rewarding its employees can attract top talent in the industry.