Employee Reward Policy in BPO

Reward employees on time. Image source sainsburysbusinessdirect.co.uk

The system of having an employee reward policy needs to be incorporated in every business and in particular the BPO and outsourcing sectors.  Rewards should be given to an employee as soon as a milestone is reached and this will motivate him/her to work more efficiently.

Employee reward policy should be administered promptly and ideally carry a high recognition value for the employees to serve the company better.

Elements of an Employee Reward Policy

The employee reward policy can be financial or non-financial rewards. The manner in which an employee is recognized in an organization matters the most. The main idea behind the employee reward policy is to retain the efficient employees in the outsourcing sectors.
It is the best way to attract and retain them. It is very important that the outsourcing sectors don’t go wrong with their employee reward policies since it may have a negative influence altogether. There are a number of parameters to be taken note of while incorporating a reward policy.

A reward policy with high recognition value

Recognition is something which can be given at no cost to the company as it is not always necessary to give financial rewards.  At times, a sincere thank you by the company generates a sense of satisfaction among the employees. The rewards with a high recognition value are not soon forgotten.

There are innovative methods that outsourcing sectors can use to plan their employee recognition awards. Organizations should get into the practice of celebrating even the small successes and appropriate verbal recognitions can work wonders. It is also important to link as many awards as possible depending on the performance.

Performance is not to be measured based on the employees’ attendance and should be on the basis of that extra-mile the employee has gone.

Rewards in time

Rewards lose their meaning if not given to employees promptly and appropriately.  It is a well-known fact that if someone’s act is to be repeated, it should be appreciated immediately. It is going to reap multiple benefits to the organization if employees doing a great job are recognized immediately.

A sincere appreciation will motivate the employee to a large extent.

Longevity factor matters

Longevity of the rewards is one important factor to be taken into account and this can be done in a number of ways. One of the ways is symbolism. Rewarding the employees with tokens of appreciation that are symbolic of why it was given will definitely be a motivating factor for the employees for a long time after it was given.

Another way is introducing the point system in an organization. This will motivate the employees to work swiftly in order to accumulate their points. Once they accumulate the points they can trade for items in a gift catalog.

Keep away the demotivators

It is very important to keep the demotivators at bay to reach high goals at work.  Most of the demotivators can be avoided by identifying them through the commitment of employees in the organization. Involving employees in identifying demotivating factors is crucial for helping the management understand and help in their reduction.

Any organization can function optimally only if its employees are motivated and employee reward policies take this purpose a long way.

The system of having an employee reward policy needs to be incorporated in every business and in particular the BPO and outsourcing sectors.  Rewards should be given to an employee as soon as a milestone is reached and this will motivate him/her to work more efficiently.

Employee reward policy should be administered promptly and ideally carry a high recognition value for the employees to serve the company better.

Elements of an Employee Reward Policy

The employee reward policy can be financial or non-financial rewards. The manner in which an employee is recognized in an organization matters the most. The main idea behind the employee reward policy is to retain the efficient employees in the outsourcing sectors.

It is the best way to attract and retain them. It is very important that the outsourcing sectors don’t go wrong with their employee reward policies since it may have a negative influence altogether. There are a number of parameters to be taken note of while incorporating a reward policy.

A reward policy with high recognition value

Recognition is something which can be given at no cost to the company as it is not always necessary to give financial rewards.  At times, a sincere thank you by the company generates a sense of satisfaction among the employees. The rewards with a high recognition value are not soon forgotten.

There are innovative methods that outsourcing sectors can use to plan their employee recognition awards. Organizations should get into the practice of celebrating even the small successes and appropriate verbal recognitions can work wonders. It is also important to link as many awards as possible depending on the performance.

Performance is not to be measured based on the employees’ attendance and should be on the basis of that extra-mile the employee has gone.

Rewards in time

Rewards lose their meaning if not given to employees promptly and appropriately.  It is a well-known fact that if someone’s act is to be repeated, it should be appreciated immediately. It is going to reap multiple benefits to the organization if employees doing a great job are recognized immediately.

A sincere appreciation will motivate the employee to a large extent.

Longevity factor matters

Longevity of the rewards is one important factor to be taken into account and this can be done in a number of ways. One of the ways is symbolism. Rewarding the employees with tokens of appreciation that are symbolic of why it was given will definitely be a motivating factor for the employees for a long time after it was given.

Another way is introducing the point system in an organization. This will motivate the employees to work swiftly in order to accumulate their points. Once they accumulate the points they can trade for items in a gift catalog.

Keep away the demotivators

It is very important to keep the demotivators at bay to reach high goals at work.  Most of the demotivators can be avoided by identifying them through the commitment of employees in the organization. Involving employees in identifying demotivating factors is crucial for helping the management understand and help in their reduction.

Any organization can function optimally only if its employees are motivated and employee reward policies take this purpose a long way.




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