Idea Submission Rewards Programs

Today companies are increasingly turning to employee recognition and incentive programs to help increase productivity and retain workforce numbers. There is ample evidence of the benefits of such programs on employee loyalty, retention, and productivity, and with an uncertain economy, the results far outweigh the risks. However, there is more that companies can do than implement employee recognition and rewards programs to ensure workforce happiness and well being. By not only rewarding your workforce but allowing it to actively participate in company development as well, you as a company can further show your employees how much you appreciate them and their efforts. There is no better way to further reward your workforce than through the implementation of an idea submission program that collects and holds employee ideas about future progress and development.

Indeed, as a company implementing such a program, you involve your employees directly in the progress of your company. It not only behooves you to seek out new innovations, better efficiency, and increased productivity at decreased costs, but by including your employees in that process, you create an environment where your workforce takes a greater interest in the welfare of the company as a whole. While administration and management may have good ideas for future company development, your workforce is on the front lines of your service-who better to determine what is needed to improve company performance? Further, by rewarding your employees for their ideas, you not only discover ways to improve your goods and/or services but show your employees how much you appreciate their loyalty and innovative thinking, creating a positive feedback loop that greatly benefits everyone in both the short and long term.

As author Andrew Wood notes in a recent edition of the Journal for Quality and Participation, company ideas largely stem from four sources: company executive administration and middle management as well as informal and formal employee submission structures.¹ Though each provides an excellent source for new ideas and fresh approaches to company development, the formal structure for employee idea submission requires the greatest structural attention. Most important when looking to implement such a program is to determine how many participants you seek to collect ideas from, how you want to maintain that data, and what rewards you wish to offer your participants for their ideas.

While some programs are designed for small workforces, others can handle over 25,000 participants. Some may simply collect data while others can analyze and create reports from myriad idea submissions. You need to first establish what best fits your company's and employees' needs before deciding on what type of idea submission program to implement.

Online Rewards, an industry leader in customer loyalty, employee recognition, and redemption programs, can design, implement, and administer your new idea submission program. It uses an innovative catalog system that offers both customizable and pre-set rewards choices for program participants, resulting in better incentives for continued employee loyalty and increased company innovation. By choosing Online Rewards to implement your idea submission program and listening to your employees' suggestions, you stand to reap the benefits of a more streamlined and efficient company and an appreciative and loyal workforce. In other words, this type of program can reward and recognize your employees for far more than simple effort while making you a better corporate citizen.

1 Andrew Wood, "Creativity, Employee Suggestions, Innovation, and Suggestion Programs." Journal for Quality and Participation, Vol. 26, No. 2, June 2003, pp. 22-26.