Exploring the Psychology Factors in Gift Giving: Insights into Employee Recognition and Motivation

Discussion

Numerous elements in the study mentioned above had an impact on employee motivation and satisfaction. It was also significant to learn that incentives and recognition are directly and favorably correlated with motivation and job satisfaction. As a result, if the rewards and recognition given to employees were changed, work motivation and satisfaction would also change. This might be directly translated to mean that better incentives and recognition lead to higher levels of motivation and happiness, which may then lead to higher levels of performance and productivity. Additionally, it's important to consider the health benefits of giving, as a supportive work environment not only boosts morale but also contributes positively to the overall well-being of employees. When there are significant discrepancies, especially when there are emotional confrontations between performers and nonperformers, the organization should try to re-evaluate and address the issue. If the company does not evaluate this scenario again, it may have a detrimental effect on minority retention, job performance, and productivity.

Maslow’s Hierarchy Of Needs

According to Maslow's hierarchy of needs, the higher-level wants that affect motivation cannot be satisfied until the lower-level demands, including pay and perks, are addressed. (A Study on the Impact of Rewards and Recognition on Employee Motivation, 2013) Additionally, while firms typically place a lot of emphasis on extrinsic rewards, intrinsic benefits were also crucial for fostering employee motivation. Recognition and appreciation are intrinsic benefits that motivate employees and raise their level of performance. Furthermore, the health benefits of giving, particularly in the form of recognition and appreciation, play a crucial role in enhancing employee well-being and productivity. Employee engagement is dependent on rewards and recognition. Robin and Robert, 2014 their study about “Intrinsic Motivations of Public Sector Employees: Evidence for Germany”. According to the study, intrinsic motives have a much greater impact on employee performance in the public sector than extrinsic ones. (Abdullah et al., 2016)

Psychological Effects Of Recognition And Appreciation

Motivation is the psychological process that gives behavior purpose and direction, a propensity to behave consciously to fulfill specific unmet desires, an unsatisfied need, and the ability to achieve, among other things. Other earlier studies show that when a scientific field, like psychology, was first established as a profession, it had three main objectives: to identify brilliance, to treat the sick, and to help humans live healthier, better lives. Moreover, incorporating the psychology factors in gift giving plays a significant role in enhancing intrinsic motivation. This includes giving employees the chance to use their skills, providing them with a sense of challenge and accomplishment, showing them respect and goodwill, and treating them with decency and tact. These factors not only motivate but also contribute to a more positive and productive work environment. (Abdullah et al., 2016)

Confused what to gift? Here’s How We Provide You Researched-based Gifts & Giveaways!

The Relationship Between Appreciation, Recognition, And Performance

Chapman and White made a clear distinction between appreciation and acknowledgment (2019). It was clearly stated that appreciation can be given or done on purpose. For instance, appreciation can be given when you respect someone for who they are, and on purpose recognizing someone's work can be done when the circumstance calls for it. Recognition and praise are examples of psychological or intangible rewards (intrinsic) that are crucial in motivating employees and improving performance. In Fagley and Adler's opinion (2012), “appreciation is genuinely attached to spirituality through a method of mutual relation, and each seems to be a key influence in psychological and physical well-being and effective performance within the work setting, with every employee producing a definite impact and input”. Appreciation is fundamental and everyone desires, needs, and responds to it. This makes gratitude fundamental to any organizational progress. (Abdullah et al., 2016)

Importance Of Employee Recognition

Being highly regarded by their co-workers is one of the main motivators for employees. The best method to gain this respect is to be recognized for one's abilities in their field. While most people would associate incentives and recognition with monetary bonuses or opulent awarding ceremonies, showing appreciation for your employees doesn't have to be costly or glitzy. Understanding the psychology factors in gift giving reveals that an honest compliment and a pat on the back are both effective forms of employee recognition. It might also be as easy as sending a thank-you email or exchanging pleasantries with co-workers. This approach makes workers happier: Content workers are more productive. Receiving recognition makes your personnel feel as though they have mastered their tasks and are a perfect fit for both their position and the business. Additionally, acknowledgment can boost loyalty, encourage teamwork, and increase productivity. Furthermore, the workplace should be a place that encourages positive reinforcement and welcomes constructive criticism. (Andriotis, 2018)

Significance Of Giveaways And Gifting Employees

Corporate gifting is a clever way to improve business relationships in every circumstance, whether you want to thank your staff and clients, inspire them, or engage them. It improves the return on investment for a firm and fosters strong relationships between loyal customers and employees. Employee giving is a practice in which businesses occasionally provide gifts to their contacts as a show of appreciation and thanks. Additionally, this practice not only boosts employee happiness and serves as a motivational tool but also brings about the health benefits of giving. Engaging in such acts of generosity can enhance the overall well-being of both the giver and the recipient, creating a healthier work environment. Anything that the recipient will find valuable in their personal and professional lives is acceptable as an employee present. This may include pricey accessories, laptop bags, snacks, gift cards, and so forth. (Acharya, 2021)

Conclusion

Employee recognition in the workplace can be implemented in a variety of ways, but it all starts with company culture. Understanding the psychology factors in gift giving is crucial in this context as it can significantly influence how employees perceive recognition efforts. Additionally, considering the health benefits of giving not only enhances employee wellness but also boosts overall morale and productivity in the workplace. A successful employee recognition program establishes a company culture that values high achievers. This could be the cornerstone for future retention strategies, ongoing employee development, and strong employee engagement. Being a manager, you should place a specific emphasis on expressing your gratitude to your staff. Even though 68 percent of respondents to Glassdoor's employee appreciation survey claimed their manager currently shows them enough gratitude, 53 percent of respondents said receiving greater appreciation from their boss will help them remain longer at their company. (Robbins,2019) Any business's bottom line is impacted by employee recognition. Enhanced retention rates, more productivity, and higher self-esteem are the results. All aspects of your company will soon be affected by the current endeavor. As a result, the workforce will be more content and productive. You'll benefit in the long run if you take the time to express gratitude to your staff. (Jones, 2019)

Suprabh Kesav
Psychology Blogger,
The Shared Secrets Lab,
GiftAFeeling Inc.

Read The Official Research Paper On - Exploring the Psychology Factors in Gift Giving: Insights into Employee Recognition and Motivation