More and more companies are realizing their employee rewards and recognition processes are missing the mark. Deloitte’s survey of 9,400 business and HR respondents showed that employees aren’t satisfied with the alignment of their company’s rewards strategy with its organizational strategy. Specifically, 38% said it was only “somewhat aligned” while 14% said it was not “aligned” at all.
This is despite research showing that employee recognition is far from optional to facilitate healthy company culture. Without alignment of both its rewards and organizational strategies, companies see higher turnover, employee dissatisfaction, and unproductivity. On the flip side, companies with engaging recognition programs see positive business outcomes such as:
4x more likely to improve stock prices
2x more likely to improve NPS scores
2x more likely to improve individual performances
Of course, employee recognition goes beyond just good business – it’s good ethics! In these particularly challenging times, it’s important to show appreciation for your team’s continued efforts. Not only is rewarding employees just the nice thing to do, but it’s also a great way to keep teams connected and motivated during this strange moment in history.
Know your company needs more employee recognition, but unsure where to start? Don’t miss these opportunities to reward and recognize your team members:
1. Work Anniversary
Every new year with an awesome team member isn’t just another tally in their records; it’s a milestone that should be celebrated with purpose. They’ve built collaborative relationships, accomplished goals, and made an impact on your company – all successes that should be recognized. Take the time on an employee’s work anniversary to send them a reward and thank them for all their hard work over the past year!
2. Birthday Shout-Out
The question isn’t, “Should companies celebrate their employees’ birthdays?” Rather, the question should be, “How can companies best celebrate their employees’ birthdays?” Being thoughtful about birthday celebrations—even if it’s making the decision to not throw a party for your more introverted employees—can make a big difference in how employees perceive the workplace. With more employees working remotely, blowing out candles in-person may not even be an option. Sending a reward for a food delivery service, such as UberEats or DoorDash, along with a personal note is a great way to treat an employee on their special day.
3. Timely Project Completion
There’s typically a lot of moving parts when it comes to a larger scale project, and unexpected obstacles can put more pressure on set deadlines. When a major project is completed in a timely manner, it is an accomplishment that deserves recognition. It’s always a weight off the team’s shoulders when a project is completed, launched, or published, making it a great moment to step back and acknowledge all the work that went into the process. Remember to do your part to reward team members in a timely manner––recognition has much more impact in the moment than when it is delayed.
4. Hitting Numbers
Recognizing employees for hitting key performance metrics is a great way to encourage their continued success. If an employee hits a number-based milestone, such as a sales goal, a fun way to reward that employee is to take that number and use it as the basis for a celebratory reward. For example, if the number is 12,321, send that employee a $123.21 e-gift card for their favorite brand. This is a success-driven approach, but the personal touch in the reward value shows the employee that you are paying attention to their accomplishments!
5. Incentivize Personal Growth
Let’s face it: most people are busy! It can be difficult to make time for optional training and certifications while juggling every-day work and personal obligations. Promising a reward to employees for completing desired training can be a great way to encourage them to make the time and increase your organization’s human capital. Investing in the personal growth of your employees can result in growth for the entire company down the line.
6. Quarterly Reviews
As a manager, it’s your responsibility to ensure quarterly reviews are productive and valuable for your employees. Remember that these reviews often come with both positive feedback and constructive criticism, and that despite your best intentions, the critique shared may overshadow your words of praise in an employee’s mind. Rewards can be a great, tangible show of appreciation for the goals that your employee hit and lead to greater efforts in desired areas of improvement.
7. Year End
A year-end reward can be a powerful tool in reminding your staff that their hard work and the company’s overall growth and success are closely intertwined. This ensures employees feel like they make a difference at work, and can also have a correlated positive impact on their personal lives. For example, a larger year-end reward can help employees have the financial means to do something fun with their families or treat themselves over the holidays. This leads to employees coming back from the holiday season happier and more refreshed, and ready to be productive in the new year.
Leading a team can be a challenging undertaking, let alone ensuring that all team members are engaged and satisfied. Taking a moment to recognize employee success helps drive engagement, increase productivity, and reduce tension in the work environment. Whether it’s just a $10 reward for a job well done, or a $500 year-end reward, rewards go a long way in highlighting an employee’s achievement and showing your appreciation.
While you may love the idea of recognizing employees in principle, you may also feel that your organization simply does not have the bandwidth right now to build an engaging program. Here’s the good news: Rybbon’s automation makes it a breeze to set up and run a successful employee rewards program. Kicking off a rewards campaign in Rybbon requires little effort, but can lead to a huge impact on employee satisfaction and productivity. The platform’s multi-user functionality, global delivery, and customizable branding make it easy to scale your rewards program across departments and offices. Most importantly, Rybbon offers great reward choices to satisfy everyone on your team, from the artist to the athlete.
Refer your HR department to Rybbon for a $25 reward and let them know how easy it is to set up. Your awesome recognition program will be up-and-running in no time!