An increasing number of workplaces are integrating sophisticated and strategic employee rewards programs to motivate employees and show appreciation for their hard work. Unfortunately, however, some of these companies are still giving rewards that their employees don’t actually want. Company-branded t-shirts, coffee mugs, and mouse pads often go straight from workplace to thrift store. To makes sure your rewards program has the positive effects you’re looking for, you need to give your employees the rewards they actually want. Here are four fail-safe tips for recognizing your employees in a way that they’ll truly appreciate:
- Establish a rewards marketplace
Give your employees the ability to “shop” from a marketplace full of items they actually want or need. Many recognition and rewards platforms, including the Achievers platform, have marketplaces built into the product. This allows employees to apply their awards money to anything from an espresso maker, to designer bags, to a new iPad. When they experience the excitement of shopping, it will help reinforce the positive feelings they have for your organization.
- Award team prizes
If it took teamwork to deliver the outstanding results that you’re rewarding, you’ll nurture the group’s sense of unity if you give a shared prize to the entire team. Underwriting a team dinner out or providing tickets to an event that team members can enjoy together is a great way to build a powerful sense of group identification.
- Give gift cards
No award is exactly right for every employee; a diverse workforce means that your scope of rewards and recognition needs to be equally diverse. Prepaid gift cards are the perfect way to provide precisely the reward that your worker will appreciate the most. A survey from the Incentive Research Foundation found that 83 percent of recipients prefer receiving gift cards to cash. The reason likely lies in the fact that gift cards are more personal than cash, and they also enable people to experience guilt-free shopping.
Employee rewards programs provide a powerful force to keep your workforce engaged. Choosing the right rewards lets you take full advantage of this important aspect of your company culture.