Skip to main content

How Flexible Rewards programs improve Employee Engagement

Employees are looking for more flexibility at their workplaces rather than concentrating only on salaries and benefits packages. Because of the disruption due to COVID, people want to retain flexible working hours, health benefits, and a good number of vacation days.  Above all of that, workers are more serious about motivation and empathy than ever before. If you treat your employees like a part of your family, they will deliver you stellar performance and don't think of leaving your organization. You have to be flexible and bring changes in the work processes to synchronize with the changing business needs. Flexible rewards for employees help you to unlock true potential and provide a phenomenal total rewards experience. Let’s look into the Total Rewards Components that need to be revamped for a better experience. 1. Pay: Companies are becoming more flexible in providing compensation benefits and hikes in salaries. In today’s scenario, the achievement of team goals and honing...

How to create a culture of reward and recognition in an organisation?

 

Employee reward and recognition has long been a cornerstone of effective management. However, in recent times, as the competition for talent surges, how organisations’ value their employees has become more important than ever.

Creating a reward and recognition program is a start- so if you don’t have one, that’s a good first step to start as, however, it is not something smart organisations do because building a sound employee reward system for employees from scratch is quite challenging.

Rather than creating your effective reward system, it is always better to contact a well-known company that offers an incredible global digital reward system to businesses.


What is employee reward and recognition?

Employee reward and recognition is a method of support that helps employees know their contributions are valued, recognised, and appreciated. 

Every employee wants to know how they are doing, thus, rewarding and recognising employees demonstrates what success looks like.

Companies reward and recognise employees for going above and beyond, for their achievements, tenure or service, or desired behaviours.


Why employee reward and recognition matter?

Rewarding and recognising employees is extremely important as it helps to retain top talent, increase employee engagement, encourage high performance. 

When it comes to creating a culture of recognition, below-listed is the key to meaningful employee reward and recognition programs.

  • Be specific, be relevant 

Reward and recognition are more meaningful when it is tied to a specific accomplishment or business objective. When rewarding and recognising employees, explaining what the reward and recognition are for helps employees relate the reward recognition to their behaviour. In a way, this encourages continued strong performance.

  • Be timely 

Reward and recognition that arrives months after the fact aren’t nearly as meaningful as reward and recognition received promptly.

The longer it takes for the management to reward and recognise employees; the less likely employees will see the affirmations as authentic.

  • Remember reward and recognition comes in various forms

There is an incredible deal of research that indicates people are motivated by more than just cold hard cash. It is also critical to note that everyone has their preference or style when it comes to giving and receiving appreciation.

Get a clearer picture of the primary language of appreciation in the work setting of each individual. Then, reward and recognise them accordingly. 

In conclusion, these above-stated are some of the tips to create a culture of reward and recognition in an organisation. 

Comments

Popular posts from this blog

How Flexible Rewards programs improve Employee Engagement

Employees are looking for more flexibility at their workplaces rather than concentrating only on salaries and benefits packages. Because of the disruption due to COVID, people want to retain flexible working hours, health benefits, and a good number of vacation days.  Above all of that, workers are more serious about motivation and empathy than ever before. If you treat your employees like a part of your family, they will deliver you stellar performance and don't think of leaving your organization. You have to be flexible and bring changes in the work processes to synchronize with the changing business needs. Flexible rewards for employees help you to unlock true potential and provide a phenomenal total rewards experience. Let’s look into the Total Rewards Components that need to be revamped for a better experience. 1. Pay: Companies are becoming more flexible in providing compensation benefits and hikes in salaries. In today’s scenario, the achievement of team goals and honing...

Future of work strategies for working after COVID 19

According to a survey of more than 800 HR leaders, some HR trends are manifested as a permanent result of workforce and workplace changes resulting from the covid 19 pandemic turmoil. It is now essential for these leaders to assess the impact of each HR trend on the organization's operational and strategic goals and understand how large-scale shifts are changing the way people work and do business to create an impactful future work strategy. Some of these new trends of work strategies that you need to close attention to are as follows-   The emergence of new top-notch employers- The organisation continuously faces the demand for transparency from their employees even before COVID-19. Employees and candidates judge their organization based on how they were treated during the pandemic. Balance the decisions made today to resolve the pressing concerns of a pandemic with the long-term impact on the employment brand. Growing organisations communicate transparently and ofte...

Ways to boost employee motivation using a reward system

Seeking to boost employee motivation using a rewards system for employees can sometimes be a daunting task for employers. But this shouldn’t be the case. When provided with the correct information and the proper techniques and global digital reward solutions from a renowned company, employers can be experts at boosting employee motivation using a rewards system in no time. Employers who are revamping or currently implementing a rewards system for employees should consider the following tips. ●          Involve all employees in the development, implementation, and revision of rewards programmes. Involving all employees will allow communication between employees and management about the rewards process. It will also ensure that both employees and upper management are on board with the rewards system.   ●          Make sure that employees see the rewards as worth the effort. Including the employ...