Popular employee recognition program examples include annual awards, reward point systems, surprise on-the-spot awards, peer recognition and appreciation events. Some companies recognize employees through service awards for an employee's tenure.
Employee recognition programs are important factors in retaining top-performing employees. Employees who feel valued by their employers are more likely to continue their tenures with the company.
Annual awards are a popular way to recognize top-performing employees. Companies often present annual awards at banquets or company-wide meetings that double as appreciation events for all employees. Trips or other appreciation events are used to celebrate the achievements of employees. Holiday parties, barbecues or social outings reward employees while also building a sense of comradery.
Another recognition program is a weekly, monthly or quarterly reward system. Employees who reach performance goals may receive monetary incentives, time off, gift cards or other gifts. These programs may include a points system that is tracked online and viewable by all employees, creating a sense of competition.
Peer recognition programs allow employees to vote to decide which of their peers deserve awards. Public recognition is another way to reward employees for good performance. Employers publish the names and achievements of employees in newsletters, newspapers, the company website or radio advertising.