Author: PM Team

2020 has been an unprecedented year with COVD-19 pandemic impacting almost every country in the world. Sudden lockdowns in various parts of the world including India saw a massive change in the way people work. The pace of change was so rapid that most leaders
had to take huge effort to ensure that their employees continue to deliver the promises made to customers and remain engaged, healthy, and safe.

The current form of Rewards and recognition has formally evolved in the advent of Industrial Revolution where workers were motivated by giving incentives in the form of monetary rewards.

In the entire employee lifecycle, Rewards and Recognition (R&R) plays a very crucial role in defining the employee experience. It is one of the most used methods of positive reinforcement to drive favorable behaviors in an organizational setup. Your company’s R&R policy has the capability to drive organizational growth and culture if executed correctly.

It has been dreaded for a while now that many job roles will turn obsolete due to the advent of artificial intelligence, robotics and automation. The skill set required for today’s job roles will be transformed due to the changes in technology. 65% of today’s children entering the primary school might end up with jobs that do not even exist yet.