From motivating staff to improving your company’s stature - the facts and stats behind employee rewards.
Understand what motivates your employees to drive them to their peak performance. A motivated workforce results in highly productive staff helping you achieve your company’s goals. In fact, the Incentive Research Foundation reports that greater motivation can boost performance by as much as 44%.
Well-implemented rewards and incentives schemes give employees and customers a reason to engage with your company. Engagement can deliver multiple benefits, but the bottom line when rewarding your workforce is that they will care about your company’s performance just as much as you do.
Well-developed employee reward schemes can be a major factor in a potential candidate’s decision to apply for and join your company. When assessing a new job, 61% of people would be more likely to choose an employer that regularly thanks its staff for their efforts*. Once on board, employees who are regularly thanked demonstrate greater loyalty, saving time and money on recruitment.
*One4all Power of Thank You report, 2014.
Companies that reward their staff benefit from better brand reputation. Organisations that regularly recognise their staff are perceived to be more trustworthy, better at treating their customers well and better at being fair.
Inspired employees give their all to their employer, they are constantly striving to be and do their best. This enables them to use their skills and talents to their full potential.
Team-based rewards programmes ensure that employees are encouraged to work together to complete tasks, pooling their talent and utilising each member’s key strengths.