As a human resource leader, you realize that company culture and employee job satisfaction are some of the most important things to boost productivity, decrease staff turnover and ensure customer loyalty. Company leaders seek the most up-to-date solutions that correspond to the modern workforce lifestyle and world outlook. The market responds with many tools that claim to be the best at increasing employee engagement – and most of them probably do a great job – however, you need to ensure you’re choosing the right solution for your specific company. Here are three starting questions you should ask yourself before you begin your search.
Creating the right employee experience that matches the goals of your organization is vital. By gathering a group of professionals together, you can create a unique culture in one form or another. Skilled people work, talk, coexist and share their habits. This all takes effect regardless of your ability to control it. If you do not manage this process, there are high chances that your company’s culture will gain undesirable forms.
As the one tasked with creating an effective employee recognition program, you must identify key objectives for each department to make sure that each employee would be recognized and rewarded for their positive contributions.
There are many essentials to consider when defining objectives for your company. Here are a few factors to consider:
What are your company’s goals for setting up an employee recognition program? Is it to boost productivity and increase commitment, or are you trying to build a stronger company culture? It’s important to know exactly what these objectives are. You can then begin to plan rewards based on those plans. It may be a good idea to strategize with both monetary or non-monetary. You can create awards based on a point system where managers have distributable points, or on peer-to-peer recognition, or a combination of the two.
In order to calculate your budget for employee recognition, you have to take into account such things as expenses currently focused on recognition activities that may not be unified throughout the organization, and employee turnover costs.
Losing valuable team members may lead to a significant spending, because high turnover requires quite a lot of money.
Employee turnover costs consist of 3 major parts:
Turnover replacement costs per voluntary resignation or retirement replaced by new hires.
Source
Finding a cost-efficient high technology solution, such as SaaS platform with integrated rewards catalog could be exactly what your organization needs.
Tools such as WorkProud or MyPointRewards are perfect for any business looking to implement monetary or non-monetary recognition strategies.
The important thing to keep in mind is that you don’t want to remove the human touch! It’s massively important that your organization allows your recognition program be authentic and not forced. When your employees are rewarded, they don’t want to feel like they are being processed through a machine algorithm.
Recognition tools can actually help you increase the level of authenticity and human interaction, by allowing you to automate some of the following tasks:
Your actions will be more strategic and complex when all your data runs through a centralized database and there are no extra hours spent on administering a manual program.
Online Rewards can help your organization develop a strategy that fits directly with your unique cultural needs. Learn more about our employee recognition capabilities.
WorkProud is committed to helping its clients create a unified approach to the employee experience by helping them build cultures of workplace pride. Trusted by millions of users at some of the world’s most recognized employer brands, WorkProud delivers a comprehensive approach to building company cultures that inspire people to be Proud of their Work and Proud of their Company.
Every month, we share news, knowledge, and insight into what we believe is a pretty simple proposition: If you are “proud of your work and proud of your company,” you are more engaged, more productive, and more likely to stay with your company for the long haul.
*By selecting “SIGN UP,” you agree to WorkProud’s Privacy Policy. You may unsubscribe from our newsletter at any time. Please note when unsubscribing: it may take up to 10 business days for your request to take effect.