Female. 40 years old. 70.2kg
Male. 38 years old. 83.6kg
Sound familiar? These are the statistics of the average British male and female – and you most likely have a fair few Mr and Mrs Averages in your office. But even though your employees may fit the average prototype, you still need their performance to rise above average! How do you break out of the ‘average’ performance levels?Recognition and reward is a well known and proven technique.
Incentivise your employees to work that bit harder – and improve your bottom line.
It’s no secret that employee incentives and recognition schemes reap rewards – in fact 70% of the Times Top 100 Companies to Work for have a motivation program in place. No surprise considering that motivation schemes improve employee engagement, and an engaged employee means better work – which means a more profitable company. Having a scheme in place can greatly improve employee retention – and at a cost of £3500 to £5000 for each new recruit, this is likely to be reason enough to keep your employees motivated! However, only 10% of employees strongly agree that they are completely satisfied with their company’s employee recognition efforts. Contrary to what some companies may believe, cash is not the best motivator for most employees. Only 27% of employees who want to be recognised by non-monetary incentives are in fact recognised that way. So what techniques are available to maximise choice but within a manageable consistent programme?
A points banking programme can offer employees access to 100’s of different rewards, to suit their diverse needs and motivational drivers. Put simply, rewards are loaded as points and employees choose from a range of products on offer. Clever systems also profile the employee (based on age, status, things they have looked at etc) and promotes rewards they might like. Great if the employee lacks some creativity in choosing their own! The major benefit is that an employee’s goal becomes synonymous with a specific rewards, rather than cash, which is far more motivating.
An alternative technique is really all about how you package your scheme. For example offering a ‘Dream Reward’ immediately creates an aspirational sentiment to your programme. It enables employees who earn high value rewards to choose their ‘dream product’, whatever it may be – and we will aim to source it for them. This tool allows self targeting, as employees are working towards their own dream. It offers choice and flexibility, as any reward idea is possible – the only limit is the recipient’s imagination!
So what if you gave your employees the ultimate choice of anything, anywhere, anytime?
Pre-paid debit cards are growing at a phenomenal rate. They offer the spending power of a MasterCard, and have the advantage of being a tangible reminder of your brand, regularly used and regularly seen. Different to a points banking mechanism a prepaid card is just as likely to be used to purchase everyday items and household products as it is to purchase a ‘fun’ reward – and can become more of a routine product for employees to rely on. This means it works really well as an incentive and an employee benefit mechanism and is a fantastic option to offer employees who are largely motivated by cash rewards.
So there you have it – three options guaranteed to prevent your employees becoming Mr and Mrs Average Performance, and give you an office full of motivated employees.
