The Benefits of Rewarding Employees in the Workplace
According to the Harvard Business Review,“Business productivity increases by 31% when employees are happy.” The primary objective of an employee rewards program is to do just that! They are designed increase productivity, boost employee satisfaction, retention, motivation and collaboration. Such programs also allow for your company to place itself competitively amongst the job market.
Incentives and rewards come in many different forms. Employee rewards programs offer another efficient and effective way for managers and HR teams to relay the message of a job well done tohard-working employees.
Here are the best ways to implement employee rewards programs into your workplace and how they can increase engagement anddrive business goals. The key to an effective awards program is knowing what motivates your employees.
Types of Rewards Programs
There are different types of employee rewards that are short-term with a narrower range
- Ecommerce systems using rewards points
- Custom employee recognition awards
- Company swag/promotional gear
- Health-based incentives that promote well-being
- Holiday raffles and philanthropy
- “Lunch and Learn” discussions with participation rewards
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