May 3, 2019

Everything Is Fair In Reward And Recognition

As a kid and as an adult we have all used or heard the term, “it's not fair”. It seems, our brains are hardwired to this kind of behavior. And we tend to carry our set of beliefs on fairness wherever we go, including our workplace. The “perceived” idea of fairness can eventually seep into the employee rewards and recognition program and become the parameter based on which employees leave or stay in an organisation. Perceived fairness also determines the extra effort the employee will make to reach the goals or objectives required to fulfill his/her job. Hence, it’s vital for companies to make sure that their employee rewards system is rooted to the principle of fairness. Employees’ perception of fairness and equal treatment is a core driver of retention, engagement and performance.

What can perceived unfair treatment can lead to ?

  • Counterproductive behavior towards work
  • No team unity
  • Create a culture of dishonesty, distrust and hostility
  • Diminished performance and commitment to the organization

Reward and Recognition Platform Can Solve The Problem Of Fairness

Companies often use rewards and recognition as a way to motivate employees and show that they are appreciated. It is a form of extra compensation for employees on team-based accomplishments or for meeting project-based targets. Rewards and recognition may be monetary (bonuses) or non-monetary (acknowledgement in a company newsletter or during a regular team meeting). But with increased expectation of employees and flexibility around distributing rewards, R&R has become the new measure for fairness.

This is where Xoxoday comes into the picture.

  • Xoxoday for Employees is an employee engagement platform that provides all participants (managers, HRs and employees) a fair, frequent and timely recognition. It offers a level playing field that encourages employees to receive recognition and send feedback in real time.
  • The platform is fully automated hence there is 0.001% chance to be biased or driven on human prejudices.
  • Employees have full autonomy in choosing their reward from a variety of experiences, gift vouchers from leading brands, hotel booking, gift cards without trail of approvals or paperwork.
  • Every manager dreams of a team that is driven by positive behavior and Xoxoday can make that possible. Apart from work related recognition, employees can also be rewarded and awarded for demonstrating positive attitude and displaying company’s core values. This will not only lead to good employees but a team of good people.
  • Compared to the incentive approach where incentive percentage is pre-decided and distributed annually, Xoxoday gives managers and HR the liberty to set a budget and give reward points to employees. They can distribute these points for several things like - completion of projects, small achievements, cracking a big deal etc - then the reader clearly knows this can be done but is not being done now.

In Conclusion

The notion of fairness is still a relatively subjective concept in the corporate sphere. Your take of fairness might not be the same as your employees. The best way to derive a common meaning is through

  • Constant feedback mechanism
  • Effective communication
  • Giving larger autonomy to Managers, HR and Employees
  • And, Transparency.

Xoxoday is here to help you achieve this vision.

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Poonam Das