The one thing that is very hard to find in this world is an employee who is satisfied with his salary and does not seek rewards and recognition.

And today, when attrition rates are skyrocketing, one needs to pay proper attention to this one particular HR function - Rewards and Recognition. "The employees are the "building blocks" of any successful organisation. The Reward & Recognition Program acts as a "catalyst" in the system. Thus, these are of utmost importance for any organisation in Growth Scenario," opines Anil Koul, Omam Consultants. Rewards at many times act as motivator as well as recognition for good work. "Reward and recognition is a management tool that sends a message to employees that their contribution is appreciated and that they are recognised for their own unique qualities. Managers can use this tool to help employees understand how their jobs contribute to the organisation's overall goals and how their performance affect the achievement of those goals" comments Ujjal Sengupta, HR Manager, Subhash Projects & Marketing Ltd. Agreeing with the same Ratna Sinha, HR Head Emami Group says, "Rewards and recognition are very important for the growth and development of an organisation. As in an organisation like ours, the most important asset being its people hence ultimately it is their happiness which keeps an organisation moving. There are several ways and means but the best is when it is personal whether it is tangible or intangible."

And this is nothing new that we are discussing about. "Rewards have been in existence in India since ages in the form of "Bonuses", and "Packets at the time of Deepawali". This used to be individual/ secret transaction between the CEO/ owner & the employee" says Koul. However, in present days it is more transparent and lucid. They are now openly announced. They are now uniquely designed. It is more beneficial when it comes as a surprise to individual & is obviously beyond their expectation.

There are various ways in which an employee is rewarded by organisations. For example, in Emami, as revealed by Sinha, "Our success and endeavour to excel has been due to our people. Rewards and recognitions in terms of 'Congratulatory' and 'Appreciation' letters from the top management, gifts, spot awards and promotions with higher responsibility, while even at times sponsor for special management programs - are the on going practices which we too practice but we have also other 'recognitions' too. Apart from friendly practices - for example - to motivate and nurture people to be well dressed, have awards as 'Mr. Elegant' and 'Ms. Elegant' on the Emami Family Day. We have an agenda to make it more formalised. We put across the message subtly." In Subhash Projects, as in Sengupta's words, "The various reward and recognition methods our organisation practices as per the latest trend are cash award for best idea or suggestion award, team parties, picnic, tours, holiday package etc, certificate for appreciation, gift vouchers, sponsorship for specific technical/functional certification courses, project specific awards (on completion or over achievement of specified assignment). Employees are selected for reward and recognition based on several other criteria like punctuality, efficiency innovation, dressing, positive attitude etc."

One should not forget that rewards and recognition does not depend on particular occasions like the festive season. "The time is always right. One does not have to wait for any particular ceremony or gathering, it is something which can be done any day. Who does not want to be appreciated and recognised? All of us look forward to genuine appreciation and recognition. The only thing is that rewards do not mean only monetary rewards which were perhaps earlier thought. 'Recognition' can be done via other methods too. Today people are anyway earning 'fat' salaries and hence 'recognition' apart from monetary incentives is a ready welcome and companies are thinking of more innovative ways" agrees Sinha.