Ram boasts of a 22-year long career, during which he was associated with companies such as Microcon International, First Insight Corporation KPIT Cummins, Fujitsu Consulting, Cognizant and Zensar Technologies.

Let me structure this into a transparent digestible and succinctly packaged message, so that there is a definitive take away. What levers have organizations been employing to keep their vital heart beat a.k.a employees motivated and keep them that way? If you want me to give a political answer so many initiatives which are solemnly guided by the ‘precinct' of predefined budgets. OK great. Is it effective? May be yes, may be no, or maybe somewhere in the middle. Let's take a deeper look and a different posture to this ideology. Why do people need additional motivation? Aren’t they already being paid for what they are supposed to do?

Wrong. The challenge and reality facing the management and human resources largely is as below
•Gen X & Y are gone and Gen Z is all over(in a good sense).
•With the digital wave, the skillsets in demand, demand razor sharp decisions to balance between attracting and retaining talent to be able to have the edge to execute transformational digital and meaningful experiences.
•The cost benefits of offshoring have met its match both in terms of increasing wages as well as competition from else where.
•Traditional rewards and recognition thus are rendered ineffective in achieving a balanced work force.

Firstly, let’s take a closer look at the traditional levers employed by human resources to attract, award and retain critical talent mass Competitive packages Stock options Onsite opportunities Some captives offer family unions and yearly trips. Most of these are monetary in nature and seldom define or backstop the fundamental need of your resources or employees.

Almost all industries and disciplines have undergone transformation and disruption. Why not Human Resourcing practices, of which Rewards & Recognition form a vital part of?So what does the 2020 workforce value as a commensurate recognition and a reward. GenX GenZ or whatever the fundamental need

for attention & being mentioned and looked upon as a trendsetter hasn’t changed and most probably won't. So there’s an easy one for you to address.

Innovative and poignantly executed rewarding not only brings theassociate’s talent to the forefront, but also gives you a less financially stressful way to compensate

Creating a career framework and giving them a sense of career & direction, rather than standalone job, and improves confidence at the work place. So what are the levers that we can employ to disrupt the traditional R&R process?
•Having a sustainable policy that is reviewed on a regular basis.
•Adapting this to changing workforce and not overstepping on the value systems. This is really important. A particular associate may be ok with a slightly lesser pay raise, but wouldnt take it light if he was denied leave during his yearly 'festival family get together'. Tight and consistent employee engagement will help unsurface not only the value systems of the teams but also some surprising hidden talents.
•Fast track programs for individuals showing promise and intent have long proven to be effective levers to attract as well as retain morale and talented employee workforce.
•Customizing it to a variety of achievements.
•Innovative and poignantly executed rewarding (using one team member’s talent to present the employee of the month) not only brings the associate’s talent to the fore front but also gives you a less financially stressful way to compensate a winwin. Being innovative has no limits. Some times, sending a thank you post to families with a rose, thanking the families for the associates’ performance and contribution, can go a long way in securing employee commitment and resonate well.
•Ensure sufficient funding and budget is factored upfront.
•Being consistent(can be achieved through management training programs).
•HR being reachable at all times to associates and making those regular floor connects. Communication is another key. If they are able to combine these with ‘Spot' rewards and some fun games there's nothing like it.
•Alignment with vision and mission of the department, business unit or the organization. Any rewards program should have relevance and embody the values of what the organization is striving to achieve. So, R&R should be pertinent to this premise.
•Timely execution.
•In tune with the value system of the associate.
•Regular communications on the process.
•Correlating the R&R program with the success criteria (Employee morale, retention, improved project performances, and improved customer satisfaction)and make adjustments as a part of continual improvement.
•A well articulated designed and implemented rewards & recognition program goes a long way in not only employee retention, but also improves workplace productivity and in turn more merrier customers in the long run.

Like anything conistency is the key. No one shoe fits all. But success lies somewhere in between the above points.From a management standpoint consistent connect with associates, example setting and instilling the confidence that a good performance will never go unnoticed and will be rewarded aptly in cash or kind will go a long way in achieving the desired results out of the R&R program.

I do foresee a lot more use of technology and data learning coming to the aid of this dwindling art.