You can’t just set and forget your employee reward programs.
Deloitte reports that a lack of recognition is the biggest reason that employees leave their job. No wonder, since 82% say recognition is important to their happiness at work, according to SurveyMonkey.
That’s why it’s a good idea to review your employee reward programs on a regular basis. Staying up to date on workplace trends and employee preferences allows you to adapt your incentives and make sure they’re as effective as possible.
Here are seven upgrades to consider.
READ MORE: Download our Employee Incentives Report from NAPCO Research
If you’re still giving out traditional employee incentives like branded swag, office supplies, food baskets or even physical gift cards, it’s time to consider switching to digital prepaid and gift cards. Not only are they more convenient and sustainable — no postage costs or packing materials — digital rewards offer a lot more flexibility for redemption, thanks to mobile wallets. Reaching your remote employees is also far easier when you can deliver via email.
Clunky spreadsheets and manual processes are no match for today’s platforms. Not only are they built to streamline your team’s workflow, their robust tracking capabilities help you understand where every dollar is spent so you can budget more effectively.
Platforms like BHN Rewards offer you lots of flexibility, allowing you to get back any unused rewards, give instant rewards, or offer points-based rewards. It all adds up to a more elevated experience for both rewards program managers and recipients.
Another feature that can be useful in a rewards platform is the ability to schedule rewards in advance. This simplifies your management of employee reward programs, allowing you to set up deliveries for birthdays, work anniversaries, and employee appreciation days all at once. That way, you never miss a key rewarding opportunity.
In addition to scheduling, the right tool lets you send digital rewards via SMS, which is more convenient for recipients. It’s also becoming more popular, especially with Gen Z employees.
Even better, SMS delivery makes a greater impact in certain situations. Delivering employee rewards on the spot during team-building events, for example, makes them more meaningful.
Recipients want choices. Employee reward programs with themed multi-brand cards allow you to offer the kind of flexibility employees expect while also tailoring the experience. You can use digital rewards with different themes to amplify your appreciation message for certain occasions and milestones, such as:
If employee reward programs don’t include the rewards employees truly want, it’s a waste of your organization’s budget. Instead of choosing for your employees, empower them to pick their own reward. A platform like BHN Rewards will let you build the choice right into your delivery and redemption workflows.
While recognition from a manager is great, peer-to-peer recognition can feel just as good — sometimes even better — to employees. In fact, 85% want to gift recognition, compared with 77% who want to receive it, according to our research. When a co-worker goes the extra mile for their team or fills in for someone on vacation, why not let your employees thank them? This helps promote a culture of recognition across the organization.
Upgrading employee reward programs is simple with BHN Rewards. Check out our product tour to see how.
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!
