Some companies have even started using rewards as a recruitment tool but unless the programme is engaging, there is little point having it.
What type of Employee rewards get people excited?
Some companies have even started using rewards as arecruitment tool. The key to a successful reward is one thatis creative and thoughtful. It can be a great way of furtherreflecting the culture of the company. However, unless theprogramme is engaging then there will be low participationand little point having it.
You need to ask employees what they are looking for?
- Do they think it is worth it?
- Keep the scheme simple and easy to understand
- Base it in objective performance data
- Makes sure it’s fair
- Reward Teamwork
- Change rewards frequently
- Act quickly – people want to be rewarded immediately and frequently
Broadly speaking there are 3 main types of rewards; Cash, gifts and experiences
Cash is an easy to recognise bonuses; extra days holiday, gift vouchers, cinema tickets, charitable donations on their behalf…
Gifts such as Branded tech, Apple music subscriptions, monthly subscription gifts such as Birchbox or beer of the month, coffee membership, sweets, plants, wine…
Experiences after all the lockdowns and restrictions of the past two years people feel restless, they want to get out there, they are longing for adventure and a bit of excitement. Wine tastings, escape rooms, crafting classes, maybe even skydiving!
Don’t forget it is hard to beat a good old fashioned“Thank you”. This can be done privately or publicly for large or small accomplishments. Maybe even a handwritten note. The effect gratitude has is frequently underestimated.
Education and training are increasingly popular. Paid for education and training especially when employees are offered paid education days in addition to holiday are hard to beat.
Lastly, make sure The Team is recognised.
Team appreciation events such as a dinner out or music event or maybe a covid friendly digital zoom gathering. Thanking each other and sharing in the feel-good sensation your staff take from their work.
Feeling proud of achievements, taking pride in supporting their team and feeling a sense of accomplishment in helping the business reach its goals. Maybe “fun budget”when full the team get to decide together on what to do