REWARD AND RECOGNITION: ESSENTIAL TOOLS FOR EMPLOYEES’ PERFORMANCE

The dynamic nature of today’s economy, especially with regards to technology and innovation, makes it imperative for companies to re-evaluate the approach in which they manage their employees. Thus employees should be seen as internal customers whose needs are to be met expectedly. This is especially needed in businesses where competition is continuously increasing and challenging. The main objective of this study is to examine the relationship between employee reward, recognition and job performance. This paper introduces potential benefits and caveats of bringing rewards and recognition into the workplace; suggestions are provided for practitioners to incorporate rewards and recognition for positive returns to the organizations.