Attracting and Retaining High Performance Employees
86% of businesses use employee recognition programs. Rewards and incentives can spur sales, improve retention and employee loyalty, and raise productivity. The Incentive Research Foundation (IRF) reports that incentives can attract and retain good employees, boost team performance by as much as 44% and increase individual productivity by an average of 22%.The right kind of recognition program can provide staggering benefits to an organization. In a recent WorldatWork survey 90% 0f businesses indicated that rewards and incentives improved length of service, 79% of respondents indicated rewards incented employees towards "above and beyond" performance, and 43% of respondents indicated that incentives led to peer to peer recognition. This kind of data reveals that creating programs for employee rewards, recognition and incentives is a small investment that reaps significant returns. Not only keeping employees happy, but creating a work environment where the employee appreciates the company can lead to longer and more prosperous employee employer relationships. Ensuring that these rewards are properly and often communicated from the employer to the employee using different modes of communication such as a company intranet, email, bulletin boards, and the like help to remind employees constantly of the appreciation of the company for their hard work and dedication. Measuring success and gauging satisfaction of recognition and rewards programs is another important way to ensure that as an employer you keep your employees engaged in these programs is important. Rewards do not have to be big, rewards can range from small spot rewards such as a gift card, and can extend all the way to more valuable incentives like a trip or extra time off.
For more tips on engaging employees in rewards programs that drive performance check out this Business Management Daily article.
Employers look to cut health care costs as premiums increase
Health care premiums are increasing at an unprecedented rate, said to reach around $10,000 per employee in 2012. As a result employers are looking to cut health care costs whenever possible. Here are 5 ways employers may need to cut health care costs this year.
Reward Your Employees this Valentine's Day with a Gift They Can Give
With Valentine’s Day right around the corner, many are gearing up to figure out just the right gift for their significant other. Why not take the worry and stress out of finding that “perfect” gift that usually comes with a gift receipt and another trip to the store. Calling all employers! Valentine's day is a great time to exercise that wonderful incentive or loyalty program you’ve just put in place. Show you care by rewarding your employees with gift cards to
CVS/pharmacy so they can reward the ones they love. While the gentlemen are scratching their heads on whether to grab the Small shirt, so not to offend their wife, or trying to decide if her favorite color is purple even though she’s been wearing a lot of black lately, there is an easy solution. A gift card to Catherines or Lane Bryant
will ensure she gets exactly what she wants and leave him out of the dog house this February 14th. The women in the office may be having some trouble of their own. They can get their guy the gift that keeps on giving with an
AutoZone Gift Card…for the other love of his life. Or give him the chance to revamp his wardrobe with a gift card to
Burlington Coat Factory. Use this Valentine's Day as an opportunity to reward your employees hard work and let them reward their loved ones.
Effective Social Health Games
Social health games have proven to be effective in the fight against obesity. Whether it is a friendly race, a push-up competition at the gym, or use of a health tracking application. These applications often provide rewards such as gift cards, and health tips to further the participants effort to live a healthy lifestyle. These games do not only provide a social component, which motivates individuals to continue with their healthy companions, but provides an easy opportunity to reward desired behavior. These games and mobile apps could be a great way for employers to engage their employees in a health and wellness program without having to invest the money to create the program. Encouraging a particular social health app or a particular regiment would bring employees camaraderie and shared motivation to work towards rewards, and a healthy lifestyle. These social health games could essentially act as a ready-made health and wellness program for your employees. The only cost that the company would incur would be small rewards such as gift cards to help maintain engagement in the program and promote ongoing healthy living. How does your company use social games to motivate employees to be healthy?
For more information on specific social health games and platforms check out this U.S. News and World Report article.
Helping Employees Cut Daily Costs with Gift Cards
U.S. workers are spending $5,620 a year on WHAT?
The answer might surprise some, but for many, it’s not a shock—coffee and lunch. According to one estimate, the average U.S. worker spends around $5,620 to $7,700 annually on these everyday expenses. If you’re thinking this seems high, consider the costs of your daily coffee run and lunch break. They add up fast.
