Engaged Employees Bring These Benefits to your Business
- Engaged employees are 202% more productive than those who are not. Rewards help to engage your staff, which makes them work faster and more efficiently. Production soars when employees are motivated.
- Companies with engaged employees are 4 times as profitable as those with unengaged employees. It may be as simple as more production equals more profit; or it could be that they care more about a company that treats them well and rewards them handsomely. Whatever the catalyst, get in on it!
- Engaged employees enjoy better health, resulting in fewer sick days and less employer cost.
13% of the workforce is actively UNengaged.
Unfortunately, this critical element is neglected by some organizations, which results in 13% of employees being unengaged, and therefore, less productive. If you find yourself in this situation, you are losing money to every day-but there is something that you can do. Implement a strategic employee reward system. In fact, the productivity of any organization would benefit from having a reward system in place.
Compensation can include, but isn’t limited to, an employee’s salary, their health insurance, tuition reimbursement, and so on. It can also include free and discounted goods. Compensation is typically something tangible (or it represents something tangible, as insurance represents future cost savings).
Appreciation & Acknowledgment
Appreciation includes gratitude, recognition, and acknowledgment. It’s generally not tangible. The organization can express appreciation in many different ways and for many different reasons. Employees that are productive and perform well should be recognized. But an employee should also be recognized for their less obvious contributions. Employers can show their gratitude and recognize achievements with compensation. They might also bestow appreciation in a public way, such as during an awards ceremony.
Because compensation and appreciation can take so many different forms, it’s wise for employers to take the time to design the rewards system that will best motivate their particular employees, align their strategies, and strengthen their organizational culture. In order to do so, however, they need to have some idea of their employees’ wants and needs.
Being unproductive is only funny on TV
Tips on Designing a Rewards Program
Download our Employee Reward System Questions PDF
The best bosses ask for input
Employee reward systems are most effective when they are designed to bring employee goals and organizational goals into alignment. Ask your team for input on a reward system by conducting a survey. Questions are provided for you in the blue box at the top of the page. We encourage you to empower and encourage your company's greatest asset today!
Need help setting up a survey? Click on the image below!