Recognizing and rewarding performers and encouraging good future efforts is a long-term strategy for gaining loyalty and keeping a valuable workforce. Most startups fear going through this route because they may perceive it to be expensive and this would hamper their growth objectives. The good news is that non-financial benefits are just as important as financial incentives. In fact, many employees specifically prefer them.
Acknowledging work pays off in the long run, and the time spent recognizing it will probably lead to a more thoughtful and personal approach. So it’s an effective way to motivate your employees. Here is a guide to employee rewards and recognition program.…
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