It gives us immense pleasure to announce our next Greytribe live session, being conducted on November 17th, Thursday from 3:30 PM to 4:00 PM.
This time, there will be an exclusive 30 minutes of LIVE discussion thread with the Expert Sanjeeb Lahiri, Chief Human Resources Officer, GRP Ltd on the topic ‘Reward and Recognition strategies at the workplace’.
We thank each one of you for the continuous support and enthusiasm that you bring to the LIVE community session. Your support motivates us and we strive harder every time to come up with new, exciting and informative sessions. Much appreciated.
Requesting members to post their doubts/queries related to reward and recognition strategies on this post and get them answered by the Industry Expert on November 17th, 2022.
Join the Greytribe live session on ‘Reward and Recognition strategies at the workplace’ and get all your queries answered by expert Mr. Sanjeeb Lahiri, CHRO, GRP Ltd. from 3:30 pm to 4:00 pm on Thursday, November 17th.
Let’s welcome today’s expert for the session, Mr. Sanjeeb Lahiri, CHRO, GRP Ltd.
He has over 23+ years of professional experience at a global level, in Information & Communications Technology, Trading, Distribution, Manufacturing and Holding Companies including start-ups. He is skilled in Talent Acquisition, Staffing, Compensation & Benefits, Talent Management, Learning & Development, Counseling, Assessment & Development Centers, Change Management, Employee/ Industrial Relations, Communication, Business Excellence, Merger & Acquisitions and Greenfield Projects/ Start –Ups Businesses in a global environment. He has Post Graduate qualifications in Human Resources, Marketing Management and Training & Development with a proven track record in formulating and managing people strategies and practices of organizations (including startup businesses) in India, Europe, Asia and Africa.
We are thankful to him for joining our session today as the expert to share his views, expertise, thoughts and knowledge.
Once again, a very warm welcome to you Mr. Sanjeeb.
We also open the session for questions after this post.
The concept is Recognition & Rewards – to reward we need to identify & recognize that something worth rewarding has happened. We all know that humans do want to be appreciated and valued and whatever gets valued gets done. Businesses can drive behavior or focus by identifying what needs to be done, how it has to be done and what shall be the mode of recognizing/ rewarding if it is done. R&R strategies guide all of these.
R&R strategies are solely dependent on business requirement and also needs to be cognizant of the employees aspirations. This is a delicate balance to needs maintain.
Rewards can be of two main categories – monetary or experiential. Experiential rewards can include sabbaticals, training, knowledge, holidays, performing an aspirational role etc. Monetary rewards have evolved to allow recipients options to buy products/ services of their choice. However, it is important to identify the acts/ behaviors that need to be rewarded.
The concept of r&r stems from the fact that what gets recognised gets maintained. It is important to therefore identify what is important for the organization to drive. Like attendance can be ‘somewhat’ improved by the attendance incentives, sales by ‘sales incentives’ learning can be promoted by opportunities to learn & experiment etc. The demography of the organization also plays a role – it is important to understand aspirations and create the process according. In my organization, most of the r&r are experiential – like a course of choice is sponsored, spend a day with a leader of your choice, get a day off, etc. as we want to move away from the ask of money all the time.
At any workplace r&r is important. Complexity of WFH can actually be counter productive to team cohesion. To ensure each team member feels valued and also organization targets are achieved R&R can play a very big role.
I think a virtual celebration works best where the recognitions/ rewards are announced with the reason why it is being rewarded works best. The reward can be anything the organization may want to but doing it regularly and making it bias free matters a lot.
Humans want to be appreciated and valued. This is a basic need for most of us. R&R addresses this basic need, thereby enhancing experience. Also, whatever (actions) gets appreciated/ recognized gets reinforced and has a ripple effect of generating aspirations – thereby enhancing employee experience.
