Organizations today and in the past are trying to achieve more with less and move faster at the same time as improving quality and customer service without increasing costs. As they do this they realize that what makes the difference is not just strong brands, state-of-the-art technology, new products or new markets. They needed to motivate the employees to exert maximum effort,
deploy maximum intelligence, and apply maximum creativity in their work for the benefit of
the organization as a whole. In a nutshell, many organizations now realize that engaged
employees are a powerful source of competitive advantage. An organization’s only source of
sustainable competitive advantage is its human capital.
Thus the study gains significance, thereby revealing the effectiveness of employee
recognition. The results of the study provided the management with vital information
regarding the critical areas that could be improved further to satisfy even the top performers.
This research is mainly used to study the effectiveness of employee recognition and whether are they valued by the employer.
Recognizing the contributions employees make to an organization helps solidify relationships,
fosters employee engagement and loyalty to the organization. Hence it was required to identify that the recognition scheme motivates and makes them feel valued. In this regard,
an initiative was undertaken to conduct research on employee recognition.
Through a statical analysis, it was found that there was a correlation between being valued by the employer and the motivation of employees which says that being valued by the employer has an effect on motivation. Age and being valued don’t have any relation which says that no matter what age the employee is, he or she needs to be valued.
Suggestions and Recommendations
The study recognized that there was a need for individual recognition more than team
recognition on a day-to-basis. Engagement activities can help employees to perform better and help them to stay back in the organization for a longer time has to be introduced.
A few suggestions provided were, the company can also conduct a social get-together for awarding the employees.
Conducting more team-building training programs which will help build trust among the employees.
They should consider employees' suggestions and opinions while framing the
rewards policy as it motivates them to perform better. Also, this gives employees a
feeling that their views are considered important.