Employee rewards programs are more popular than ever and for good reason. Researcher Gallup's State of the American Workplace found 70 percent of American employees are not engaged in their professional lives, and this translates to poor productivity, efficiency and retention. Rewards and recognition programs are among the best approaches to engaging staff members, reducing turnover and keeping operations in optimal form.
Here are a few surefire employee recognition and reward strategies that can help keep your staff happy:
Include employees in the planning process
Rather than guessing what employees want and hoping for the best, owners should always seek out worker input early on when establishing the program. Surveying staff members to understand what will motivate them and make them feel valued is the first step. Next, establish metrics and benchmarks to gauge the impact of a chosen program, giving managers the insights necessary to continue improving upon it in the long run.
Pure incentive programs
Incentive programs are among the most common approaches to rewards in the modern workplace. Blackhawk Engagement, an incentive solutions provider, pointed out more than half of the American workforce is currently on some form of an incentive program, with U.S. organizations spending more than $100 billion each year on these initiatives. What's more, the firm pointed out that $46 billion of that sum is incentives that are not simply cash.
Get an idea of what your employees might want out of an incentive program, and remember it could either be cash payouts or some other reward, such as more time off, opportunities for professional growth, gift cards and more.
Recognition initiatives
Recognition programs alone can have a profound impact on engagement and staff satisfaction. Nonprofit trade association Printing Industries of America recommended recognizing milestones in employees' tenures at the company, as well as exceptional work and virtually any activity that is "above and beyond" the ordinary. Simple forms of recognition, such as an email blast or a plaque, can be among the most effective.
Remember to get everyone involved in your program. Managers and owners should spearhead the initiative, but peer recognition can be invaluable for today's workforce.
Once your plan has been solidified, you can also consider implementing an actual platform, whether one built specifically for either recognition or incentive initiatives, to track your program. Simply stated, you should never underestimate the power of one of these initiatives.
Here are a few surefire employee recognition and reward strategies that can help keep your staff happy:
Include employees in the planning process
Rather than guessing what employees want and hoping for the best, owners should always seek out worker input early on when establishing the program. Surveying staff members to understand what will motivate them and make them feel valued is the first step. Next, establish metrics and benchmarks to gauge the impact of a chosen program, giving managers the insights necessary to continue improving upon it in the long run.
Pure incentive programs
Incentive programs are among the most common approaches to rewards in the modern workplace. Blackhawk Engagement, an incentive solutions provider, pointed out more than half of the American workforce is currently on some form of an incentive program, with U.S. organizations spending more than $100 billion each year on these initiatives. What's more, the firm pointed out that $46 billion of that sum is incentives that are not simply cash.
Get an idea of what your employees might want out of an incentive program, and remember it could either be cash payouts or some other reward, such as more time off, opportunities for professional growth, gift cards and more.
Recognition initiatives
Recognition programs alone can have a profound impact on engagement and staff satisfaction. Nonprofit trade association Printing Industries of America recommended recognizing milestones in employees' tenures at the company, as well as exceptional work and virtually any activity that is "above and beyond" the ordinary. Simple forms of recognition, such as an email blast or a plaque, can be among the most effective.
Remember to get everyone involved in your program. Managers and owners should spearhead the initiative, but peer recognition can be invaluable for today's workforce.
Once your plan has been solidified, you can also consider implementing an actual platform, whether one built specifically for either recognition or incentive initiatives, to track your program. Simply stated, you should never underestimate the power of one of these initiatives.
