As an organization it is possible to boast about stylish offices, flexible work hours and a fun working environment However, most of the time it’s not enough to make your employees feel satisfied. This is the point where appreciation and appreciation for your employees become a factor.
Did you know that appreciation has an immense impact on employees’ mental health? As per the Emergenetics International article, “Showing gratitude can improve an individual’s health, improve healthier sleep habits, improve the metabolism and decrease stress. This has a direct impact on work performance and interaction with employees. By rewarding employees it’s not just about improving engagement and performance, but also your employee’s health and well-being are also improved.”
This is why it’s so important to develop an appreciation program that is in line with your company’s goals, values and and culture and most importantly, one that 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 toward recognizing talent through the form of celebration gifts during festive occasions or by awarding performance. In addition, these gestures help keep employees engaged, but they also assist in creating an atmosphere of positive work and build relationships with employees.
Why do companies gift?
While it’s true that employers offer incentives to boost employee satisfaction and happiness, let’s take a look at the larger overall picture. What does an employee do when they are content and is valued at their workplace? They anticipate working for the organization in the next several years. Thus, employee gifts lead to higher retention of employees, which is something that every company and HR manager wants to achieve.
How can proactive employee gifts and R&R affect your company and your employees?
Here are the four major advantages of employee recognition and gifts that create an improvement in any business, no matter how small or large.
1. Encourage employee satisfaction
Recognizing your workforce gives them the motivation and confidence they need to keep pushing forward. In addition the recognition of employees and gifts can boost loyalty and encourage collaboration. Your workplace must always promote positive reinforcement as well as embrace constructive feedback. Additionally, employees who are happy can be more efficient. This is a win-win situation for you and your employees.
2. Improve motivation and morale
The leadership of your organization is a key factor in motivating employees. Informing your employees that their hard work is acknowledged by the company’s management team can encourage your organization’s most valuable resource.
3. Create a self-improvement culture
Giving recognition to employees and giving gifts at work can provide the needed motivation to improve self-esteem among employees. It’s a win both for both you and your employees. Your employees should have the opportunity to develop and reward their efforts in the process. Encourage learning and reward those who are willing to work on their own improvement.
4. Inspire, draw and keep talent
We cannot stress enough that giving recognition to employees is among the most effective ways to keep your workforce. In addition to retention, a well-designed R&R program can be able to attract new talent and encourage employees to join your business rather than another that doesn’t have similar policies.
Employee gifts and R&R Employee gifting and R&R: The challenges employers have to face
The significance of employee rewards and recognition is rarely discussed within the corporate world. But, there is always an absence of satisfaction with the recognition of employees. Let’s explore the reason.
It is due to a variety of logistical challenges to running a successful rewards program that creates inertia that is present in many medium and small-sized businesses to put it in place. A study by Aberdeen Group, Aberdeen Group, The Power of Employee Recognition 2013 statesthat “Only 14percent of organizations offer managers the required tools to recognize and reward 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 take note of the issues that each employer will face while trying to establish a foolproof employees’ gifting program and R&R program:
1. Logistics and procurement-related concerns
It’s not an easy task that HR professionals source rewards and gifts for employees on their own, especially when the logistics are a nightmare. From ordering to keeping track of them, the entire task is difficult for the employees. Every HR professional would like nightmares about logistics to be realized!
2. Transparency concerns
It’s not uncommon to see budgets intended to be used for employee gifts to be misused because of a lack the transparency or accountability required in certain circumstances. Many companies complain about difficulties in managing their finances, particularly because the majority of times, in the cases of gifting based on merchandise the trail of money may not be recorded online.
3. Pilferage
As employee gift cards have an amount that is monetary and the theft of vouchers or coupons is a frequent worry for those who organize R&R. The theft of vouchers or gift cards with cash loaded could negatively impact the whole process of gift giving in your organization.
4. Vendor management
Coordination with various vendors is an exhausting task that results in a gifting process that extends over what is needed. From making sure that the vendor sticks to timeframes, to negotiating cost or deals total logistical process is as complex as it is. Making sure that the vendor is meeting expectations is a significant problem.
5. Control and customisation
The incorporation of company-specific rules into gifting programs isn’t simple today, with the majority of solutions designed to meet the requirements of the offerings of vendors. You might want to add a specific message or even include your logo or company name, set the expiry date of vouchers, and other such things. There isn’t much control over the customization of options.
6. The absence of solutions to gifting on the spot
If accomplishments aren’t recognized as they occur The value of the reward will are lost. While there are some awards and gifts can be planned for but there are others that happen without planning. An employee who wants to recognize an employee for their outstanding work or the birthday of an employee or vendor who has done something extraordinary deserves to be recognized. To fulfill these on-the-spot requirements for gifting there are two options: make sure you have a stable supply of gift vouchers or cards or have a method to create a gift that is suitable to your needs.
7. No information is available regarding the gifting exercise you completed
After distribution, you do not are able to find how your gifting program performed. If you were to use e-vouchers, then you’d not be able to tell if employees actually used them in any way if the vouchers were utilized within the validity timeframe and in the place they were used. There is no information to enhance your gifting program any further.
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