Rewards And Recognition

What is a rewards and recognition program and how does it differ from compensation?

A rewards and recognition program is the formal system a company uses to acknowledge employee contributions and reinforce desired behaviors, separate from base salary and variable compensation. Rewards include monetary and non-monetary items like bonuses, gift cards, time off, and tangible gifts. Recognition covers formal and informal acknowledgment, from peer-to-peer shoutouts to annual awards. Programs that work tie recognition to specific behaviors and outcomes rather than generic participation.

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