If you’ve waited this long to create a “Total Rewards” program that recognizes and rewards your employees in order to keep them more engaged at work, it’s ALMOST too late!
The effects of the pandemic have come at employers in waves, and some of the largest and most disruptive waves are still on their way. As Gallup points out in this article, employees these days have more options than ever and one of those options for many is simply to retire.
Look around your organization and you’re likely to see the early effects of retirements (and turnover as a whole) and ask yourself, “How much does it cost the company every time we lose a valuable seasoned employee?”
If you have never put a properly structured employee recognition/rewards program in place, you’ve lost the opportunity to blunt this first wave, but if you put one in place now you can at least stem the losses going forward and set your company on the right path for the future.
The 'Great Resignation' Is Really the 'Great Discontent'
Topics: Employee Incentive Program, improve employee engagement, rewarding employees, reward and recognize employees
Earlier this year, legislation was introduced in Congress that would have effectively banned independent contractor classifications under federal labor law. Those in the incentives, rewards & recognition marketplaces would have been adversely affected.
Topics: Employee Programs, Employee Recognition, Employee Incentive Program, improve employee engagement, loyalty program, Motivate Employees
Because we’re in the business of helping companies improve business, we are especially skilled in structuring effective employee programs that improve engagement, increase sales and achieve other metrics and improve business in general. (There are many reasons why improving employee engagement is beneficial.) This recent article suggests that some company leaders may be unclear about the difference between corporate gifting and properly structured employee incentive, recognition and reward programs.
Topics: Employee Reward and Recognition Programs, corporate gifts, corporate logo merchandise, Employee Incentive Program, improve employee engagement
Rewarding and recognizing employees is more important than ever as employers struggle to keep employees motivated and engaged in a work-from-home environment. Reward choices matter. In any economy, the right rewards can make a lasting impression on your workforce and increase the return on your program investment.
Topics: Employee Recognition, Employee Incentive Program, merchandise rewards, Recognize and Reward, Remote Employees, Reward Employees, Reward Choices
This year has been a challenge for most businesses, and especially for HR managers as companies transition to a work-from-home workforce. We’ve discussed the trends in marketing next year; here are some trends that experts predict we’ll see in 2021 for human resource professionals:
Topics: employee rewards, Engaged Employees, Employee Incentive Program, improve employee engagement, Incentive Marketing, marketing incentive, Human Resources
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