According to a new Gallup poll 71% of employees indicated they do not feel engaged, or feel actively disengaged at their jobs. Employees that do not feel engaged are often far less productive than employees who feel engaged and connected to their position within their company. This staggering statistic is indicative of employers needing to make more of an effort to engage their employees at work, and recognizing their hard work. Tom Agnew author of "The Enemy of Engagement: Put an End to Workplace Frustration--and Get the Most from Your Employees" identifies three causes of disengaged employees: poor communication about goals and performance, resource constraints that make it more difficult for employees to do their jobs, and employees who feel that they do not have the authority to do their jobs effectively. In order to engage employees it is important to keep open communication lines, and ensure that employees know when they are doing their jobs well. Giving small spot rewards such as a small denomination gift card to useful retail outlets such as CVS/pharmacy lets employees know that an employer is noticing their work, and empowering them to do their jobs to the best of their ability. Do you think your employees feel engaged? How do you think you can engage your employees better? For more information on employees engagement from Business Finance magazine click here.
Incentive Magazine recently published an article called “Forget Employee of the Month and Focus on Employee of the Moment”, where they discussed the rise of importance of immediate rewards for brilliant performance. In the past year, our connected sociability brought a 250% increase in tweets per day, 100% growth of LinkedIn users, and Facebook’s increases logins to 250 million each day, indicating a rapidly growing culture of immediacy. How does this effect HR professionals? Razor Suleman’s Incentive article announces that it’s time to institute an “Employee of the Moment” strategy by launching a social networking campaign to:
The Prepaid Press recently published Employers Find Ways to Say ‘Thank You’ to Employees; Prepaid cards Increasing as Incentive of Choice which highlighted Young America’s recent research regarding prepaid cards (such as gift cards) gaining even more popularity amongst corporate HR incentive programs. With company-wide salary freezes and abandoned bonuses, employers are struggling more than ever to retain their best employees. “…employers who want to retain their best employees admit they have fewer resources to do so, and many are turning to structured incentive programs, which cost less than salary increases and often result in high levels of employee productivity, positive feedback and loyalty," said Joe Custer, president of Young America. A few highlights of the survey findings:
Incentive Research Foundation (IRF) and the Incentive Federation recently published a study that highlights gift cards as an employee reward preference over cash rewards. The study about incentive awards recognizes non-cash incentives as a way to control spending, while motivating employees and channel partners. The preliminary results of the study point out that employee cash incentive awards are averaging $732.00, which is triple the cost of non-cash awards. “The study validates our experience and belief that the average cost of a cash award is roughly triple that of either merchandise ($206) or gift cards ($240),” according to Incentive Federation Chairman Stephen Slagle. “The total cost of incentives is especially important in our post-recession economy, so the data points stimulated extensive discussion around the benefits of each award type,” he explained. To read more about this study, visit IMA’s Return On Performance. Check back with us regularly; we’ll publish a link to the full study results once they are available.
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