Awards and Prizes are recognitions or incentives given to employees for outstanding performance, achievements, or contributions, often in the form of monetary rewards, certificates, or gifts.
- What are awards and prizes in HR?
Answer: They are recognitions or incentives given to employees for exceptional performance or contributions. - What types of awards are common in the workplace?
Answer: Types include employee of the month, performance bonuses, and service awards. - How do awards and prizes benefit employees?
Answer: They boost morale, motivation, and recognition for hard work. - What is the role of HR in managing awards?
Answer: HR designs programs, tracks eligibility, and ensures fair distribution. - How can organizations fund awards and prizes?
Answer: Funding can come from budget allocations, profit-sharing, or sponsorships.
