Value-Based Employee Rewards
The latest innovation in employee rewards is linking the rewards with company values to create “Value-Based Employee Rewards.” The key to this new reward theory is to create a mutually beneficial rewards system. When value-based rewards are implemented, employees need to embody company values, which is the initial goal of the HR program in the first place. The company wins by having employees on message, employees win by receiving spot rewards like gift cards, or even an extra few hours off. Here are three tips to implement value-based rewards at your office:
Incorporate Employee Wellness and Engagement in 2 Ways
Employee wellness and engagement are hot topics in HR departments across the country. How to keep healthcare costs low and how to keep employees happy, engaged and long tenured are at the forefront of Human Resources challenges. Here are two ways to incorporate employee wellness and engagement into your program or workplace to strengthen participation across teams and hierarchies.
3 Ways Employee Recognition Can Reduce Employee Turnover
A new report from SHRM and Globoforce shows that employee turnover has usurped employee recognition as employers’ number one personnel concern. The job market currently favors employees, with more openings than workers, so employers have to get creative to keep their people happy and in their jobs. The survey also revealed that 68% of employers who run a value-based employee recognition program saw an improvement in employee retention. Here are three specific ways employee recognition reduces employee turnover and maintains (or increases!) employee happiness and satisfaction.
The Best Employee Engagement Approaches
The approach taken for employee engagement is constantly shifting, so what are the best tools to maximize employee engagement?
Twenty years ago we might have been talking about giving away trophies, watches and other objects.
Ten years ago we might have been talking about extra bonuses.
Annual Pay Raises Replaced by Better Benefits?
Annual pay raises: something employees look forward to and sometimes count on. But has the annual pay raise gone the way of the anniversary lunch and the 10-year watch? In a post-recession economy, with a young workforce that is more focused on benefits and flexibility, organizations are taking a new approach to investing in their employees. Employees are looking for less money and more alternative compensation. Benefits now make up 31.6% of employees’ total compensation, which according to government data is a figure on the rise.
