Choosing the Right Reward

As working patterns become more diverse, so do employee expectations of rewards and incentives – the ‘one size fits all’ approach no longer applies, with employers having to match their reward programme to a diverse range of needs.

Just as an employer evolves to adapt to changes in working patterns, so the employee reward programme must evolve in order to continue to be effective. This often means working with a supplier that can offer multiple reward solutions at different levels so as to meet the changing needs of a diverse audience. Here are some of the options:

1: Bulk vouchers (buying large numbers of specific vouchers):

  • A simple solution to providing recognition and rewards to employees
  • Vouchers can be presented to staff by a manager, face-to-face, in front of fellow team members for maximum kudos and acknowledgement of the individual’s contribution.
  • A cost effective solution
  • Reward whole departments at once
  • Regular rewarding
  • Easy to understand and administer

2: Voucher Cheques (offering recipients the opportunity to mix and match vouchers):

  • Provides the recipient with greater choice and flexibility; personal choice is something that is key to any programme being a success.
  • A cost effective solution
  • Administrative cost saving and efficiencies
  • Great range of retailers available
  • Voucher Cheques can be branded to re-enforce where the reward has come from
  • Management reporting available

3: Online reward and recognition

  • Delivered via a fully branded online portal
  • Staff can access from home or work (where permitted or required) to see what they have earned and claim rewards
  • Centralised news, information, rewards, incentives, long-service etc., communication platforms, forums, sharing best practice
  • Access to a wide range of rewards ranging from gift vouchers through to experiences and merchandise or bespoke catalogues to address specific requirements

 

4: Pre-paid staff reward card:

  • The most flexible reward mechanism available
  • Re-loadable
  • Controllable budgets
  • Cards such as the Spree Card are accepted worldwide
  • Opportunity to brand the card for continual re-enforcement of where the reward came from / how it was earned
  • Ideal for employee rewards, flexible benefits, voluntary benefits and customer loyalty schemes
  • Can be combined with the online reward platform
  • Rewards can be loaded in real time increasing employee satisfaction and ensuring on-going engagement

Over time the recognition programme, if properly managed and communicated well, will become key to success in achieving company objectives, targets and goals. Working with one supplier means that a strong long-term relationship can be built and employers can mix and match from the many solutions available.

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