There’s no doubt about it — your employees want recognition.
And while thanking them for a job well done is always appreciated, employee incentive programs can amplify your praise into something more meaningful. Think improved morale, increased motivation, and reduced turnover.
In fact, according to our latest research, 72% of employees are extremely focused on finishing projects and/or achieving goals when they know they can earn rewards and/or recognition.
If you’ve ever shown your appreciation of an employee by giving a gift card, you’ve already witnessed the impact of adding rewards to your verbal or written thanks. When you formalize that action with employee incentive programs, appreciation becomes part of a vibrant workplace culture that fosters stronger, more productive teams.
Not sure where to start? Here are the most effective employee incentive programs to consider adding to your organization.
Your employees are already accruing loyalty points with their favorite eatery, airline or credit card. Why not at work? Employee incentive programs based on points give your organization plenty of opportunities for positive engagement.
That’s because points are:
READ MORE: Tips for Creating Effective Employee Points Reward Programs
Being recognized by direct supervisors is always appreciated. That said, direct supervisors aren’t the only ones who can foster a positive culture of recognition. Employees also value peer-to-peer recognition opportunities like thanking a co-worker for extra help meeting a tight deadline.
Our survey showed that employees want a chance to be praised by their bosses, their leadership teams, and their peers. This is especially true for younger employees: 39% of Gen Z report a desire for peer recognition (vs. 34% overall), and 56% of Millennials want to be recognized by leadership (vs. 48% overall).
The same survey revealed that more employees want to give recognition (85%) than receive it (77%). Could that be why including peer-to-peer recognition in employee incentive programs is gaining momentum?
In a 2021 Statista survey, most U.S. employees said wellness programs help them be as productive as possible (79%), help them avoid getting sick (79%) and are one of the reasons they stay at their job (75%).
Employee incentive programs can encourage your teams to take charge of their well-being and avoid burnout. Offer rewards for taking onsite fitness classes, joining a gym, getting a health screening, or attending a meditation class, to name just a few examples.
The sales scene has changed drastically over the past few years. Sales reps are increasingly under pressure, with more challenging workloads and fewer resources at their disposal.
Sales leaders report increased turnover/attrition (70%) and say that the talent market has impacted sales recruitment and retention (82%), according to our research.
Rep turnover comes at a cost—namely to your organization’s ROI. Employee incentive programs for your sales team can help bridge the gap between what leadership needs and sales reps want. In fact, 83% of sales reps say receiving rewards and recognition positively impacts their productivity and loyalty.
Do you have a huge deliverable due under a tight timeframe? Do you need every employee to sign up for a new benefit program during the busiest time of year? Have you committed to a charitable endeavor and need employees to volunteer?
Employee incentive programs can help you motivate and inspire your staff to take action on your most pressing plans. When sending digital gift cards to your teams, be sure to also show your appreciation by recognizing them at meetings or on social media. That kind of public recognition goes a long way toward making employees feel as though they matter.
With BHN Rewards’ Microsoft Teams integration, you can engage and recognize employees all over the world—instantly. Learn how it works.
BHN Rewards puts the power of digital rewards to work for marketers, researchers, and HR managers. Don't forget to check out all the great content in our Resources section!
BHN Rewards puts the power of digital rewards to work for marketers, researchers, and HR managers. Don't forget to check out all the great content in our Resources section!
