BlogTags - employee rewards program

Experiential Rewards in an Employee R&R Program: A Guide

12 July, 2022

Experiential Rewards in an Employee R&R Program: A Guide

Do you have a rewards and recognition program in place at your organization? If not, are you looking to introduce one? Whether you are in the ideation or implementation phase, it’s important to deliberate upon the types of rewards that you include in your R&R framework. The traditional set of physical products, digital vouchers, and cash payouts are all good choices, but what makes an R&R program stand out? Enter Experiential Rewards, the type of rewards that give your employees something to do, rather than just buying an item off the grocery checklist or paying the electricity bill. This blog…

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Digitizing Award Nomination in Your R&R Framework: A Journey Guide

14 June, 2022

Digitizing Award Nomination in Your R&R Framework: A Journey Guide

Do you have a teammate that has delivered exceptional performance in this quarter or has contributed in a significant manner to a team project? Do you deem him worthy of being awarded for the same, and if so, how can you materialize your opinion? The answer lies in the most advantageous feature of employee awards- Nominations. An indispensable precursor to disbursing an award is the selection of the most adequate candidate from the shortlisted ones and this selection process can be a scrupulous endeavor. This is why nomination serves as a core prerequisite to the final outcome- a successful employee…

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5 Tips to Enhance Your Employee Rewards Program By Leveraging Employee Milestones

10 June, 2022

5 Tips to Enhance Your Employee Rewards Program By Leveraging Employee Milestones

Employee rewards programs today look vastly different from those of the era gone by. Traditional R&R programs were highly formal, top-down and impersonal. Perhaps the highlight of one’s career would be a souvenir received after serving 10 or 20 years in the same organization. Needless to say, things have changed today. Newer generations at work, particularly millennials, are highly disengaged and don’t stay beyond a few years with a single organization. According to a Gallup study, 21% millennials have reported switching jobs in the past year and 6 in 10 millennials are open to new job opportunities. In such a…

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Purpose: A Key Driver of Employee Engagement

22 March, 2022

Purpose: A Key Driver of Employee Engagement

‘The highest challenge inside organizations is to enable each person to contribute his or her unique talents and passion to accomplish the organization’s purpose.’ Building on the words of eminent author/businessman Stephen Covey, cultivating a purpose-driven workforce with mutually beneficial aspirations is a momentous challenge faced by businesses across the globe. It should come as no surprise that employees who feel a sense of purpose in their work tend be happier, healthier, and more productive. Thus, instilling a higher purpose and making employees aware of their contribution to organizational success is crucial to ensuring consistent and substantial employee engagement. The…

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How appreciation can reverse the Great Resignation trend

11 March, 2022

How appreciation can reverse the Great Resignation trend

The great resignation is a term used for a massive movement among workers around the world to quit their jobs- 24 million people quit their jobs in the second half of 2021 alone as per the U.S Labor Bureau Statistics. The reasons behind this ongoing trend are multiple, but they all boil down to a single contention- workers are no longer feeling valued and appreciated at their workplaces. Companies are well aware of the cost they pay for attrition. It takes 1.5-2X of an employee’s salary to get a replacement. This is exclusive of the impact on client relationships, team…

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Top 5 actionable employee retention trends in 2022

25 January, 2022

Top 5 actionable employee retention trends in 2022

The past year ushered in a plethora of challenges for companies, from steering a remote workforce to operating during a global pandemic. On the parallel, a new challenge has emerged- employee retention. To reiterate, one in four workers quit their job in 2021 amid the wave of great resignation, a pattern that shows no signs of subsiding in 2022. The talent scarcity and supply chain crisis is bound to impact the economic outlook over this year as well, coupled with a fundamental and seismic transposition of power between ‘employee’ and ‘employer’ markets. HR in the past was mostly focused on…

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Features to Consider while choosing an Employee Engagement Software

20 January, 2022

Features to Consider while choosing an Employee Engagement Software

Selecting the right employee engagement software can be pivotal to supporting your retention goals and creating the right digital employee experience in today’s VUCA world. Whether you’re looking for a better way to keep your workforce engaged or searching for a checklist for the right R&R technology vendor, you’ve come to the right place. This blog will help you in identifying your exact problem statement and list the key features offered by a premium technology provider. Problem#1 You want ideas on implementing a new R&R Framework from scratch An engagement technology partner works with multiple firms- often cultural leaders- to…

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The power of customization in employee rewards

12 January, 2022

The power of customization in employee rewards

The multigenerational workforce today is dynamic, spirited, and cognizant of their merits. Constant engagement and consistent rewards are the key factors that drive motivation and commitment within these employees; ergo, why are rewards still proffered as per traditional norms, when almost every other aspect of HR has undergone transformative change? The time has come to trade the standardized employer-driven R&R programs for a fresh, personalized approach to employee benefits and rewards. A customized corporate rewards strategy enables a multiplier effect that can drastically enhance the employee experience with respect to R&R. Platforms which provide tailor-made corporate rewards solutions are procuring…

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