How Technology is Shaping Employee Rewards and Incentives

How can a modern-day business keep their employees happy? For starters, they should set up essential benefits and incentives like maternity and vacation leaves, performance bonuses, and health insurance. With those offerings, your employees won’t be satisfied at the most basic level.

However, if you want to see real changes, you have to go beyond just keeping them satisfied. Multiple studies have shown that happy (not just satisfied) employees result in better performance leading to better production and efficiency. For any business, keeping everybody happy is crucial and if you want happiness, then you better learn how to reward your workers.

Employee receiving Rewards

Technology and Modern-Day Employee Rewards

Ask somebody in their 40s and above about how they were recognized for a job well done, and they might mention any of the following:

  • They were given a plaque.
  • They were given a kudos in front of their colleagues.
  • They were given cash incentives.

While getting a medal can be confidence boosting sometimes, these age-old methods of rewarding employees don’t seem to be working. Does this mean businesses should just abandon the idea of giving rewards and incentives?

The answer is a big and resounding NO.

Big brands always have a stable and reliable employee rewards and incentive program in their HR system. The secret is in finding a way to let the old methods evolve and fit the modern-day worker.

The answer to this problem is technology. By combining technology and the idea of employee rewards, businesses can easily give their employees something to be happy about.

The Evolution of Employee Rewards and Incentives

With the help of technology, business owners can elevate the level of recognition they grant to their employees. Gone are the days when everybody stopped at 3 PM so the manager could tell everybody that Jerry from Accounting just became the employee of the month for one year straight.

While some owners have issues with technology and incorporating it into their existing system, some b2b companies provide customized employee rewards and incentive programs. By utilizing modern online turnkey software solutions, business owners can easily track employee performance, create and maintain custom milestone rewards, manage large catalogs of rewards, and analyze the efficiency of campaigns via user-friendly interfaces. One the most trusted companies providing custom online solutions for employee rewards is Online Rewards, you can see the company’s website for details.

Here are some of the benefits businesses can get with modern reward incentive programs:

1. Better engagement

Change the employee interaction from passive to engaged with the help of apps or an online portal for your rewards program. With a higher engagement rate, you are increasing the chances of achieving your goal – getting happier employees.

2. Security

Want to let your employees enjoy their metrics without publicly displaying them? Data security is the top priority for newer rewards and incentive programs. Now, you can have your employees keep track of their metrics and goals without worrying about data integrity.

3. Accessibility

With an online portal or smartphone app, you can keep your employees engaged into the program anytime and anywhere. No need to look for Suzanne just to know who’s on the top of the rankings.

4. Variety of Choices

Money is no longer the best reward for employees. Fortunately, online rewards systems can offer hundreds of options in a reward catalog. They may vary from electronics, cash vouchers, restaurant gift cards, free cinema tickets, or exciting travel vouchers.

If business owners want to make their business succeed, they have to understand that increasing employee happiness is necessary. Relatively, investing in employee incentives is a minor expense,, and the returns will more than cover the cost. What do you think? How else can modern day businesses reward their hard-working employees?

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Jim is managing all of the marketing communications for Online Rewards, a growing online business providing a wide range of technology solutions in the sphere of employee and customer incentives:

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