Rewards work in organizations because they add value to the work being done and the performance of your employees—value that may not have been clearly communicated before.
People crave rewards. Employees want to see the fruits of their labor, but may not have the perspective to see how valuable their contributions are. Rewards deliver awareness to specific, tangible aspects of performance, so employees know how well they’re doing.
In fact, one third of employees say they feel they do a better job and are more engaged when they know they will be rewarded for their efforts.
A reward can add value for an employee in two ways:
- Personal Effort Value: A reward is valuable to an employee when they spend time and effort working towards a goal.
- Social Trophy Value: A reward is valuable to an employee when it provides visible, tangible recognition in front of their peers.
However, there is one kind of reward in particular that outshines the rest when it comes to adding value to your company and exciting your employees: non-cash rewards.
Non-Cash Rewards Have A Bigger Impact
Rewards can come in all shapes and sizes, but generally they fall into two categories: cash and non-cash rewards.
Cash rewards come most frequently in the form of bonuses, and they are usually what employers think employees want most. However, cash is not what employees always prefer. In many cases, cash is viewed as compensation, the baseline component for an ongoing business arrangement between the firm and the employee.
Conversely, non-cash rewards are viewed as vehicles of celebration. These rewards are fun, memorable, and more easily discussed socially than cash, and they generate an enthusiasm cash can’t deliver – among employees, executives, and depending on the reward, the employees’ families.
The social impact from non-cash rewards has a direct impact on culture – visible celebration and rewards impact the sense of friendly competition, team pride, and community within a firm.
The next time you’re looking for rewards for your company or team, consider the impact non-cash rewards will have on your population. Not only will they be excited, you’ll also see the positive effect throughout your company.
Engage2Reward™ Platform: Streamlined Rewards and Recognition
The Engage2Reward Gift Card Ordering Platform is an innovative solution designed to increase employee engagement through streamlined and customizable reward programs. It offers a comprehensive suite of features that make it easy for employers to recognize and reward their employees effectively. Here are some of the key features:
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Wide Selection of Gift Cards: The Engage2Reward Platform provides access to a vast array of gift cards from popular retailers, restaurants, and entertainment venues. This variety ensures that there is a non-cash reward for everyone, catering to diverse employee preferences.
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Customization Options: The platform allows for extensive customization of reward programs. Employers can tailor the selection of gift cards to align with specific company values, employee interests, or even thematic events. This personalization makes the rewards more meaningful and relevant to the recipients.
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Seamless Distribution: The Engage2Reward Platform simplifies the distribution process of rewards. Digital delivery options ensure that gift cards are sent promptly and securely, reducing the administrative burden on HR teams. This efficiency is crucial for maintaining a consistent and timely recognition program.
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User-Friendly Interface: The platform is designed with user experience in mind. Its intuitive interface makes it easy for employers to set up, manage, and track reward programs. The simplicity of use ensures that even those with minimal technical skills can navigate the system effectively.
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Data and Analytics: The Engage2Reward Platform offers robust reporting and analytics features. Employers can track the effectiveness of their reward programs through detailed reports and insights. This data-driven approach allows for continuous improvement and optimization of engagement strategies.
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Scalability: Whether you are a small business or a large corporation, the Engage2Reward Platform scales to meet your needs. The platform can handle high volumes of rewards, making it suitable for organizations of all sizes.
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Security: Security is a top priority. The platform employs advanced encryption and security protocols to protect sensitive employee information and ensure safe transactions. This commitment to security builds trust and confidence among users.
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Global Reach: For companies with a global presence, the Engage2Reward Platform offers international reward options. This feature ensures that all employees, regardless of location, can be included in the recognition program.
Why Choose the Engage2Reward Platform?
Incorporating the Engage2Reward Platform into your employee engagement strategy offers numerous benefits. It not only simplifies the process of rewarding employees but also ensures that the rewards are meaningful and appreciated. By leveraging this platform, companies can foster a culture of recognition, improve morale, and ultimately enhance employee retention.
Our platform stands out as a comprehensive and effective tool for modern businesses looking to keep their employees motivated and engaged with non-cash rewards and incentives. With its wide range of features and user-friendly design, it is an invaluable asset for any organization committed to valuing and recognizing its workforce.
By adopting strategies that include meaningful, non-cash rewards and utilizing platforms like Engage2Reward, companies can significantly enhance employee engagement and retention, creating a more positive and productive workplace culture.
