It is an understatement: 2020 has been a crazy year! Many organizations have moved to a work-from-home model. Workers are finding themselves balancing their work schedule with that of their spouse and kid’s schoolwork. The fight for the computers and laptops is likely settled by now. For 2021, what is keeping marketers up at night? Here are some marketing trends to watch in 2021:
Topics: employee rewards, Engaged Employees, Employee Incentive Program, improve employee engagement, Incentive Marketing, marketing incentive
Environmental, social, and governance (ESG) criteria are an increasingly popular way for all stakeholders, not just investors, to evaluate companies. Many mutual funds, brokerage firms, and robot-advisors now offer products that employ ESG criteria. ESG criteria can also help investors, employees, contractors, and others avoid companies that might pose a greater overall risk due to their environmental or other practices. What can ESG criteria mean for your business?
Topics: Employee Recognition Programs, Employee Incentive Program, improve employee engagement, incentive and recognition programs, Reward and Recognition Programs
There are many definitions of employee engagement. In a nutshell, employee engagement is the emotional commitment the employee has to the organization.
Topics: Employee Reward Programs, Engaged Employees, Disengaged Employees, Employee Incentive Program, improve employee engagement, Recognize and Reward
Although employee incentive, reward and recognition programs are popular, many program coordinators skip the steps that would prove their effectiveness. Critics of these programs claim that they’re not measurable, they are nice to have but can’t document any financial benefit to the company. In fact, it is possible – and advisable – to measure employee programs. The latest Incentive Research Foundation study reports how many companies are measuring success.
Topics: Employee Reward and Recognition Programs, employee engagement, Employee Incentive Program, improve employee engagement, Remote Employees, Remote Employees during Coronavirus
The pandemic has affected every business and every employee. When businesses make necessary accommodations and transition employees to a work-from-home environment, it is tempting for companies to focus on the immediate crisis and put employee programs on the back burner. Putting employee programs on hold may be the worst thing businesses can do.
Topics: Employee Incentive Program, improve employee engagement, Motivating Employees, Employee Engagement for Remote Workers, COVID Impact
Most companies have some sort of employee engagement initiative underway and company leaders expect tangible benefits from those initiatives. Fortunately, there is data that proves that companies with high employee engagement and a positive culture enjoy greater customer engagement and profitability.
Topics: employee engagement, Employee Incentive Program, improve employee engagement, increase profits
Companies with defined incentive, reward and recognition programs enjoy a higher market share, lower turnover rates, a more highly engaged workforce, higher productivity and a host of additional benefits, so it makes sense that an increasing number of companies are turning to these programs. But very few company leaders know which reward vehicles work best, understand the legal tax and regulatory issues involved, or employ staff with relevant experience to properly design programs. Yet, despite this, many still attempt to do so using in-house resources.
Topics: Employee Motivation, Employee Recognition, Employee Recognition Programs, Employee Reward and Recognition Programs, employee engagement, Employee Happiness, Employee Incentive Program, Reward Employees
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
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