Megha Goel, CHRO at Godrej Properties shares how meeting the evolving needs of talent with effective rewards and recognition programmes also ensures better engagement, productivity, and retention.
During periods of economic uncertainty, dry promotions tend to become more common, with companies favouring cost-cutting strategies over increasing employee compensation.
Recognition generally entails acknowledging accomplishments and performance results, whereas appreciation extends further by recognising an individual's inherent value and their contributions to the organisational culture.
Male remote workers saw a 15% decrease in promotion likelihood and a 10% drop in pay raise prospects compared to in-office counterparts. Women faced slightly lower disparities, at 7% and 8%, respectively.
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