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The Importance of Personal Rewards

Posted, by Deborah Merkin
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Everyone likes cash, but as a performance reward, it is impersonal and predictable. Giving employees personalized rewards can help your organization retain happy employees who know their organization cares about them and their individual interests. Richard Rosenblatt, Chairman and CEO at Demand Media goes to extended lengths to ensure his top performing employees receive personal rewards by spending a whole day with employees delivering reward experiences, such as a day with a personal shopper at an upscale department store for employees who like shopping and fashion. Rosenblatt explains the importance of delivering personalized rewards for top contributors because it shows that the organization takes a vested interest in employees, the way employees spend their time and energy investing in the organization they work for. This supportive environment keeps employees happy, satisfied, and contributing to your organization for longer. Reward personalization can be scaled down to a more streamlined system. Gift cards can serve as a great alternative to cash rewards, and can provide personalization to employees as well as a "trophy value" that cash bonuses cannot. Providing a choice of a diverse group of retailers for employees to choose their reward, as well as having one physical item to give employees makes gift cards a win/win choice for employee rewards. Being able to provide an AutoZone gift card to the auto enthusiast, and a Cheesecake Factory gift card to the restaurant enthusiast will allow your organization to deliver thoughtful rewards, while streamlining the reward system.

For more information check out Richard Rosenblatt's article, part of his 10 Rules I’ve Learned and Live By to Motivate People series on LinkedIn.

Topics: Employee Recognition, Gift Card Incentives & Rewards, Gift Card Trends, Gift Cards, Employee Engagement, General Gift Card, Employee Incentives & Rewards

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