Key components of a reward and recognition plan for an employee retention plan should include:
1. Benefits that would be useful to an employee- Conditional vouchers are a strict no-no. This is something almost nobody crave for post a good days job.
2. For career focussed employees- provide them with new opportunities that will help them grow in their career. Ths will help them grow more in their career, be motivated and consider the organization as one that is open to new opportunties for the deserving ones.
3. These rewards should be given to them in public, so that they get recognized by the lot for their commendable job. This makes them famous among his /her peers. Who wouldn’t want to do that?
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