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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
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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 skills play a crucial role in determining the organization’s success and pay.

Organizations are focusing on providing both monetary and non-monetary recognition programs to appreciate the employees’ contribution.

They give importance to Pay Equity Reporting for eliminating gender discrimination at the workplace.

2. Benefits: The advanced technology offers you flexibility and multiple benefits. Online decision support tools like plan comparison and recommendation engines allow employees to make benefits decisions as per personal or family needs.

3. Well-being: A flexible work environment takes care of employees’ emotional and social well-being. Flexible work hours allow individuals to pursue higher qualifications, parents to take care of kids, and pursue charitable activities.

Organizations are also making efforts towards implementing shorter workweeks for reducing the workload and improving well-being.

4. Career: Career flexibility encourages employees to take career options that help them thrive and grow. Companies also conduct training programs to sharpen employees’ skills and help them focus on new opportunities.

The flexible reward system is crucial for retaining the right talent and keeping your employees happy.


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Location: London, UK

Comments

  1. ajaykr20 December 2021 at 02:43

    Wonderful blog! Appreciation is a simple gesture or praise that can boost employee morale. Especially, in the remote workplace, the need for recognition grows even more crucial. We bring virtual rewards and recognition ideas to engage remote employees in recognition activities at the workplace.

    ReplyDelete

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