Employee benefits are more than just perks and a performance review once a year in today’s workplace. A personalised and strategic approach is needed to create a culture in which each employee feels appreciated and rewarded.
Create a Bespoke Strategy for Benefits
Consider offering personalized rewards to keep your team engaged. You could offer a discount or gift card to a leading retailer. Customized benefits can improve motivation and increase loyalty.
Modern businesses should diversify the way they celebrate their employees’ hard work, as they strive to be diverse. If you offer a variety of rewards and perks to suit everyone, regardless of their age or interests, they will find something that appeals.
Matt Norbury is the CEO of each Person. He shared that: “Rewards and benefits have changed significantly over the years to meet changing employee requirements.” One of the biggest changes I’ve seen is that employees are increasingly looking for rewards that can help them save money and improve their quality of life, especially in light of rising costs.
Developing a powerful recognition culture
By giving detailed feedback, you can make your employees feel appreciated. This will boost their morale and motivate them to continue their high standard of work. Lack of recognition is one of the top reasons for people to leave their job. 66% of employees say they need to feel appreciated at their workplace.
A key element of modern recognition is creating and promoting a space where peer-to peer recognition is as encouraged as that from higher management. Employees find peer recognition particularly valuable, as their co-workers see their work every day. We suggest using a range of strategies to take a more modern approach. Get creative and go beyond the monthly catch-up!
Be Creative
Any business should enjoy the benefits, rewards, and recognition. Research, test new ideas and get your employees’ opinions to determine the best strategies. Keep in mind that your team is different. It’s unlikely that the motivation of one person will be the same as another. You should also consider how to evolve employee benefits so that they include all aspects of well-being.
