15 ideas to maximize employee rewards
As companies look for new ways to boost morale and motivation during challenging times, one of the biggest opportunities for improvement is through employee rewards as a way to show appreciation for your people. While most companies have some rewards in place, they likely aren’t meeting the needs of all employees.
For example, back in the day I was a Gap girl and for my one-year anniversary, I received a pin. As a 19-year-old woman who misplaced pretty much everything, I thanked the team and then promptly lost it somewhere between the journey from the break room to my car out back. I would’ve rather had something that wasn’t physical, maybe an even bigger discount or some sort of specialty item that fit my style and was out of my normal (read: bare) budget.
We know that blanket rewards don’t work – each employee has different needs and what’s meaningful to one person isn’t necessarily important to another.
Working for a company that truly does live and breathe its mission, I’ve had plenty of opportunities to receive better rewards that hold a memory for me. Just last week, I redeemed a reward I received from our UK Sales Director in addition to a peer-led reward from one of my other colleagues and I was able to get a sizable gift card to Wayfair. I’d been meaning to update my work-from-home space to include a foldable table on my patio for a sunny afternoon of editing … and with the help of my rewards, I only had to pay $15 for it. Now that was money well spent.
In order to ensure that your rewards are hitting the mark, they must include choice and flexibility in how employees can redeem them. That’s why our own reward and recognition program, Reward Marketplace, offers literally thousands (millions, even) of reward redemptions options from the likes of Amazon, retailers that support everyday shopping or luxe items and so much more.
Here’s a look at some of the many ways your employees might want to spend their rewards:
If you're interested in learning more about reward and recognition for your business, get in touch with us and a member of our team will walk you through our solution.