What is the perfect reward for employee recognition programs that target performance in areas like safety, wellness, customer service and training? Let’s start by defining what we mean by “perfect.” The “perfect” award would be one that is both highly desired by the award recipient and one that will easily be remembered by that recipient for a long time to come. Without that in mind, let’s first consider what award structures do not work (and yet are still commonly used):
Topics: Employee Reward and Recognition Programs, Employee Reward Programs, Employee Appreciation, employee engagement, Employee Incentive Program, Reward Employees
February 7, 2020 is the compliance date for entry level driver training (ELDT) regulation changes for new drivers. The Federal Motor Carrier Safety Administration (FMCSA) has amended the regulations, adopting a new Class A Commercial Driver’s License. This includes a theory instruction upgrade curriculum that reduces training time and costs currently incurred by upgrading a Class B commercial driver’s license (CDL) to a Class A CDL.
Topics: Safety Reward and Recognition Programs, Safety Rewards, Workplace Safety, Driver Safety, National Safety Month, Safe Driver Training
Topics: corporate logo merchandise, Logo Merchandise, Promotions Products
Attracting and retaining key talent has always been a top concern for business leaders and it is especially so in these days of historically low unemployment. Without accurate intelligence, business leaders are tempted to throw cash at the retention problem. Cash is King, right? So why not use cash to reward employees? Because research shows that tangible rewards are far more effective than cash.
Topics: Employee Reward Programs, Non-cash Rewards, employee engagement, Employee Incentive Program, improve employee engagement, Incentives for Employees, Motivating Employees, tangible rewards, lower turnover
Studies and experts confirm that companies with higher employee engagement are more profitable, have lower turnover, higher shareholder value, greater productivity and more. Companies with a positive corporate culture enjoy higher levels of employee engagement and better attract and retain talent. In the years since these initiatives have surfaced in corporate America, Human Resources has typically been charged with both increasing employee engagement and building a positive corporate culture. Are these initiatives better suited to the Marketing department?
Topics: Employee Incentive Program, improve employee engagement, Motivating Employees, Reward Employees, Company Culture, Human Resources
At this time of year many individuals and companies are exploring new or updated health insurance programs. Insurance companies offer significant benefits to companies that have documented wellness programs, so companies are making a significant investment in improving the health of their workforce. A study conducted by Fidelity revealed that over half of employers (56%) offer a wellness program to their global workforce, with 40% of the budget directed at incentives for employees to participate.
Topics: Employee Motivation, Employee Recognition, Employee Reward, Employee Reward Programs, Employee Wellness, Employee Wellness Program
Employee engagement, company culture, customer experience: These three components can’t exist in a vacuum. A company with a strong culture has highly engaged employees, who therefore positively impact the customer experience. Where to start?
Topics: Customer experience, employee engagement, improve employee engagement
The Incentive Research Foundation has recently completed a study on U.S. Federal Regulations on non-cash rewards. According to those surveyed, 70% are “extremely” or “very” knowledgeable about the tax and other regulations regarding non-cash rewards. That same percentage reports that they are proactive in their approach to program design - and change the design frequently in order to comply with regulations.
Topics: Non-cash Rewards, Incentive Programs, Reward and Recognition Programs
A recent survey of Chief Executive Officers finds that retaining talent is the #1 internal challenge and concern. CEOs must balance long-term goals and short-term results. Regardless of the demographics of the workforce, all employees want to know that their work has meaning and that they’re appreciated. Rewarding and recognizing employees for excellent performance is on every list of ways in which to retain employees. Employee turnover is disruptive and expensive. Here are some factors that contribute to the cost of employee turnover:
Topics: Employee Retention, employee engagement, improve employee engagement, Motivating Employees, Employee Turnover
