Want to know the number one reason? Because their jobs aren’t their whole life. If their friends, family, and health aren’t intact, chances are no reward or recognition at work is going to turn it around for them. Ensuring that employee rewards are timed correctly to fit an employee’s circumstances is key. According to the latest Employee Happiness Survey from Blackhawk Engagement Solutions, work ranks 8th among the 12 factors that make up employee happiness…not 1st, 2nd, or even 3rd, but 8th…almost the bottom third of employee priorities. So before you reward an employee and think it is going to impact their whole demeanor, make sure you set internal expectations appropriately.
Another important point, employees want to use the value of the rewards on practical items. 89% indicated that given the option they would use employee rewards on big-ticket practical items like electronics. So cash bonuses, which can often go toward bills, wouldn't hold the same long-term intrinsic value as, say, prepaid gift cards. The gift cards would be used for the intended savings/purchase , without the option to go towards other household expenses. Employee rewards may not make your employees happier people, but they do hold a special place in your human resources retention strategy. Ensure you provide the right employee rewards at the right time and that they are going to deserving employees. It can bolster employee loyalty, employee satisfaction and average employee tenure with your organization.