In a world where unemployment rates are low, competition is high, and turnover is expensive, it’s important to give your employees a reason to stick around.
Basic company benefits like health insurance, maternal/paternal leave, 401K matches and commute reimbursement are appreciated and often expected by employees. We live in an age where benefits like these are no longer considered actually beneficial and are essentially mandatory in order for most to live a comfortable life. People are almost ingrained to assume the positions they are applying for come hand-in-hand with these types of benefits and are generally unfazed by the dazzle of things like company equity, 100% health insurance coverage, and retirement funds.
So, in a world where “normal” benefits are basic, how do companies attract top talent and keep current employees intrigued? Two words: Employee Engagement. In fact, many companies are leveling up from these basic benefits and implementing employee engagement programs and guess what – they work.
From collecting important feedback to spotlight awards, wellness in the workplace, employee advocacy and referrals, there are many ways to engage with employees and show them you care. Not sure how to share the love? Check out our suggestions below and determine which type of reward will make the biggest splash for your employee engagement program.
Choosing rewards your employees will love to receive is simple. Choosing rewards that you will love to send is a little more tricky. Think about things like delivery time, inventory, fulfillment, and support. Now keep reading.
For the most part, any type of reward will be highly perceived and welcomed by your employees. That being said, rewards are not one size fit all. Below you’ll find a list of common reward types we’ve seen work in a handful of programs.
T-shirts, mugs, sunglasses and many other items can be custom branded with your company logo and handed out to employees as a reward. This is a great way to build company morale while also increasing brand awareness. This type of reward requires space for physical inventory as well as an individual in charge of managing the inventory. It can also become costly when ordering items that come with minimum order requirements. That being said, most employees will wear your brand with pride. Don’t forget to take some pictures of employees rocking company swag – it can be a great recruiting tool!
Paid time off is a great reward option for today’s overstimulated employees who often work from the moment they wake up to the minute they fall asleep with email and other app capabilities in the palm of their hands. The constant availability of technology makes it hard for people to power down, which is why vacation time in the form of reward is a wonderful incentive to treat themselves and hit the snooze button. Reward your employees with bonus vacation days for higher value accomplishments, like greatly surpassing a quarterly goal or going above and beyond within their daily responsibilities.
VIP experiences are unique opportunities employees may not typically have access to. Special experiences like a LinkedIn skill endorsement or 10 minute coffee break “ask me anything” chat with the CEO are a great way to reward employees in a way that’s memorable. Requiring little to no monetary budget, VIP experiences are more about spending time with an executive and creating value off that. For a reward program with little to no budget or resources, VIP experiences are a valuable way to create a special memory for an employee who earns it.
E-gift cards are the most versatile of rewards. They help keep costs low with instant email delivery, customizable email templates and white labeling, plus a variety of flexible choices employees love. Giving employees the option to pick their own reward allows them to treat themselves or even their loved ones to a special experience, purchase, or nonprofit donation they will remember. Check out our own catalog of e-gift card options here, we can guarantee there’s something for everyone.
Offering a healthy portfolio of rewards will help drive results for your employee engagement initiatives. Ready to get started? Click here.