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...
1 comment

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.


Labels:
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

Post a Comment

Popular posts from this blog

Know about the total reward system and its components

Employers are aware of the fact that to retain high performers, they need to offer a competitive salary that adequately reflects the business climate of their industry. But what else do you as an employer can offer as incentives to keep talented individuals on board? There are plenty of companies present in the market offering a total reward system to businesses, however, choosing one among the bunch of available options can be a challenge. It is strongly recommended to do proper research and get in touch with a reputed company that has been in the business for years offering efficient reward solutions to businesses. A total reward system is something that is implemented by a business that provides monetary, beneficial and developmental rewards to employees who achieve specific business goals. In recent times, more and more businesses are implementing a total reward system in their organisation for retaining high-performing employees. The following are some of the components...
1 comment
Read more

How to use total reward statements to engage employees?

Reward statements are an underutilised yet straightforward method of helping employees quantify the benefit of your business ’ reward strategy. The following is a short guide to highlight everything you need to know about T otal Reward Statements, including what they are, why you should make use of them, and how to effectively execute them into your existing rewards strategy. What is a T otal Reward Statement? A total reward statement is a personalised document which is used to outline the rewards an employee has received from their employer over a set period of time. Total Reward Statements are designed to highlight everything that the employee has benefited from, both financially and non-financially, as part of their overall reward and employment package. For many employees, this is an extremely simple way of showing the true value of your business reward scheme. Why use a T otal Reward Statement? All employees seek fair salary packages for their work. Total Reward Stat...
1 comment
Read more