Superior Continues Culture of Reward for Performance
The value of performance recognition is acquiring importance in major corporations across the globe. It is now recognized as a prerequisite to improving employee engagement and retention.
International management consultancy, Gallup Inc. stated that “Employee engagement reflects the involvement and enthusiasm of employees in their work and workplace” in its State of the Global Workplace 2021 Report.
In the same report relating to more than 100,000 business units, companies with high employee engagement achieve higher productivity, higher customer loyalty or engagement, better safety, lower turnover, and higher profitability, among other positive business outcomes.
In a world stricken with a global pandemic, this value has become even more crucial to the wellbeing of both employers and employees. Due to the pandemic, the path ahead is uncertain for many people. The unsettled work environment is volatile as a result.
Leaders need to take more account of factors like inclusion and equity so they create an environment in which employees have more of a voice and feel more accepted and valued. This will be more of a factor in future employee recognition.
In a similar way, employee wellbeing has risen to become a major workplace factor for employees. Management needs to increase the physical and mental support of their workforce.
On the contrary, even during conditions of low unemployment, workers do not endure a disappointing workplace for the sake of job security.
As a result, nearly half (47%) of 738 HR professionals cited employee retention/turnover as their top workforce management challenge in an SHRM survey in 2018. In the survey, two-thirds of HR professionals agreed that employee recognition helps with retention.
Industry figures show that the average overall turnover rate in 2016 was 18%, of which voluntary turnover was 13%. The true cost of voluntary turnover not only involves direct costs, like cost per hire and first-year orientation and training but also includes the interim reduction in labor costs and lost productivity costs.
In total, organizations lose around $100,000 for every employee who leaves. And this doesn’t include other indirect costs such as lost client relationships, institutional knowledge, and previous training for the employee leaving.
Superior University has always believed the ‘Principle of Recognition’ to be an important ingredient in their recipe for academic and commercial success.
Along with boosting the confidence of its students by reassuring them of all kinds of support they need to be successful, Superior does not miss out on any opportunity to celebrate the ingenious talent and unparalleled devotion of its employees.
The leadership at Superior understands that to achieve the goal to become the top research-oriented university in the region, Superior would have to become the eminent organization of choice for the best human resource in the national academic sector.
Moreover, retaining and appreciating the top-performing employees is equally crucial because, at the end of the day, an outstanding employee with a clear understanding of the organizational vision and memory is better than an outstanding employee who is yet to understand the workings of the said organization.
This is where Superior’s unparalleled long-standing commitment to the culture of rewarding its employees for their dedication and hard work comes in.
This culture of rewarding and appreciating the outstanding employees has been a hallmark of Superior University since Chairman – The Superior Group, Prof. Dr. Chaudhry Abdul Rehman laid the foundations of Superior University over a decade ago.
Later, under the leadership of Rector, Superior University – Dr. Sumaira Rehman, the value of awards has continued to reach greater heights with every passing year.
The latest episode in this remarkable story of allegiance to its employees, Superior University has distributed a total sum of Rs. 10 million among its outstanding team members who exhibited unparalleled dedication in the fields of learning, innovation, and research across the past academic year.
Most recently, Superior rewarded its outstanding performers across its numerous departments after detailed evaluations of their annual performances based on a well-defined performance rubric.
Earlier in February, Superior distributed Research Recognition Awards among the distinguished faculty members for their achievements in academic research at the Research Week 2022.
Moreover, at Superior’s Convocation 2022, Chairman’s Performance Excellence Awards were distributed among the best Dean of Faculty, the best Head of Department, the best Program Leader, and the best Student Body Advisors.
Superior’s recognition of these shining examples of dedication, selflessness, teamwork is part of a broader culture of appreciating performance excellence at Superior University that has enabled it to become an organization of choice for both prospective employees as well an educational institution for the fresh graduates.
