As an organization it is possible to boast about elegant offices, flexible working hours and a fun working environment however, typically they’re not enough to ensure that your employees are content. That’s the point where appreciation and appreciation for your employees are at play.
Did you know that appreciation can have an immense impact on employees’ mental health? In the Emergenetics International article, “Showing gratitude can improve an individual’s health, improve healthier sleep habits, improve the metabolism and decrease stress. This can directly impact work results and the interaction between employees. When you reward employees you’re not only improving engagement and performance, but also your employee’s health and well-being are also improved.”
It’s crucial to develop an appreciation program that is consistent with your company’s goals, values and values and, most importantly, something every employee can be a part of and gain from.
One of the most effective methods to boost employees to be loyal and engaged is to reward employees with gifts as well as rewards and recognition. The HR policies tend to direct towards recognizing talent by way of gifts for celebrations during holiday events or with performance awards. In addition, these gestures motivate employees, they also aid in fostering an environment of positivity and improve employee relations.
Why do companies gift?
While it’s true that employers provide incentives for satisfaction and happiness, let’s take a look at the larger overall picture. What can an employee expect when they’re content and feels valued in the workplace? They are eager to work for the organization in the next few years. Thus, employee gifts lead to more employee retention, which is which is something that every business and HR manager strives to achieve.
What can employee-led gifting and R&R influence your business and your employees?
Here are the four major benefits of employee recognition as well as gifts that create positive changes in every firm, regardless of the size or how small.
1. Encourage employee satisfaction
Recognizing your workforce gives them the motivation and confidence they require to continue moving forward. Additionally acknowledging and rewarding employees will also boost the loyalty of employees and boost collaboration. In the end, your workplace should always encourage positive reinforcement as well as embrace constructive feedback. Additionally, employees who are happy can be more efficient. It’s a win for both you and your employees.
2. Increase motivation and morale
Make sure that the leadership of your company is an integral factor in motivating employees. Informing your employees that the hard work they put into it is appreciated by management could inspire the most valuable asset of your business.
3. Create a self-improvement culture
Giving recognition to employees and giving gifts at work can provide the needed drive to self-improvement in employees. This is a win-win situation both for both you and your employees. Give your employees the chance to grow and recognize their efforts in the process. Encourage learning and reward those who take the time to work on their own improvement.
4. Retain, attract and inspire talent
We cannot stress enough that giving and recognition to employees is among the most effective methods to keep your employees. But, aside from retention, a well-designed R&R program could be able to attract new talent and motivate employees to join your business instead of another company which doesn’t have similar policies.
Employee gifts and R&R The challenges that employers have to face
The importance of rewards for employees and recognition is not a topic of debate in the business world. There is however an absence of satisfaction with the recognition of employees. Let’s explore the reason.
It is due to the numerous logistical issues related to implementing a successful employee rewards program that creates resistance in a lot of medium and small businesses to put it in place. A study by The Aberdeen Group, The Power of Employee Recognition 2013 statesthat “Only 14percent of organizations give managers the essential tools to reward and recognize employees.” Also, for those businesses that scattered across multiple locations the whole process can be a huge expense. Because of this, R&R is frequently left out.
Let’s write down the issues that every employer has to face when trying to create a foolproof employees’ gifting program and R&R program:
1. Logistics and procurement-related questions
It’s not an easy task that HR professionals source rewards and gifts for their employees by hand, particularly when it’s a gruelling process. From ordering to keeping track of them, the entire process is exhausting for the entire team. Every HR professional doesn’t want nightmares of logistics to happen!
2. Transparency concerns
It’s not uncommon for budgets intended to be used for employee gifting to be mishandled due to a lack the transparency or accountability required in certain instances. Many organizations complain about difficulties in managing their finances, mainly because, the majority of times, in the cases of gifting based on merchandise the cash trail might not be recorded online.
3. Pilferage
Because employee-given gifts have an amount that is monetary and the theft of vouchers or coupons is a constant issue for those who manage R&R. Vouchers that are stolen or gift cards loaded with cash could be detrimental to the overall process of gift giving in your organization.
4. Vendor management
The coordination of multiple suppliers is an exhausting task that results in a gifting program that goes on beyond what is required. From making sure that the vendor sticks to deadlines, to negotiating cost as well as deals total logistics process is as long as it is. Making sure that the vendor is meeting expectations is a significant problem.
5. Control and customisation
Implementing company-specific policies into the gifting program isn’t simple today, with the majority of solutions designed to meet the requirements of the product offerings of the vendor. It is possible to include an additional message, or add your logo, add the expiry date of vouchers, and the list goes on. It is not often that you have control over the customization of options.
6. The absence of solutions to gifting on the spot
If achievements are not acknowledged as they happen The value of the reward will diminish. While there are some awards and gifts can be planned for but there are others which come up unexpectedly. An employee who wants to recognize an employee for their outstanding performance , or maybe the birthday of an employee or vendor who has done something extraordinary deserves to be recognized. In these situations, if you need to gift on the spot it is essential to make sure you have a stable supply of gift vouchers or cards or have a method to make a gift according to the needs of your client.
7. There is no information regarding the gifting exercise you completed
After the vouchers have been distributed, you don’t will ever find out how your gifting program performed. If you were to use e-vouchers, then you’d not be able to tell if your employees utilized them at all , if vouchers were used during the validity period and the location they were spent. There is no information to enhance your gifting program any further.
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