BlogTags - employee rewards

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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How Employee Recognition strengthens organizational culture during the Great Resignation

5 January, 2022

How Employee Recognition strengthens organizational culture during the Great Resignation

The wave of Great Resignation is wreaking havoc over a plethora of industries, across the globe. Originating primarily in the US, it has permeated workplaces worldwide. Global upheavals have caused morbid uncertainty, which in essence, has become a breeding ground for several professionals quitting their jobs, and employers are facing the inevitable brunt. The statistics are indeed alarming- A Microsoft study found that 41% of the global workforce and 54% of the Generation Z workers could be considering resignation. There has been a paradigm shift in organizational cultures over the last few years due to global upheavals and economic disruption…

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Creating and Managing an R&R budget on a digital platform

29 October, 2021

Creating and Managing an R&R budget on a digital platform

When building a case for digitizing your firm’s R&R initiatives, an important question that always arises is- how do you ensure that your R&R budget is not exceeded? Or maybe, how can you optimize your R&R spend for maximum efficacy? Or- is my rewards budget framework in line with the industry best practices? This blog helps you answer these questions and ensure effective budgeting using your R&R or engagement digital platform. Step 1- Creating a Budget Framework When creating a budget for a digital rewards platform, keep in mind that unlike traditional methods, digital mediums offer the advantage of instant…

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How Positive Reinforcement leads to better collaboration in the workplace

28 September, 2021

How Positive Reinforcement leads to better collaboration in the workplace

Positive reinforcement, that is, offering a reward to encourage the repetition of a desired behavior, is now a popular practice in management. However, most organizations use it specifically in the context of monetary employee rewards for individual performance, overlooking the various ways in which it can be used to improve workplace culture and team connection. In this blog, we’ll explore how to use positive reinforcement for increased collaboration. Collaboration encourages united vision. When members of a team know that they are working towards a common goal, it becomes easier for them to view teammates’ wins as their own. It also…

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