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As companies continue to struggle to recruit amidst ongoing labour shortages, a strong reward strategy can make a big difference in attracting and retaining a happy, productive workforce. If you’re worried your reward strategy may have lost impact (or even worse, is non-existent), read on to find out the best ways to boost it, today:
1. Ditch your one-size-fits-all approach
We’ve said it before and we’ll say it again – one-size-fits-all has no place in employee engagement programmes. Sure, there are some tried-and-tested methods for boosting happiness and productivity, but the best people strategies are those that actually focus on ‘people’ – not as a collective but as individuals.
It pays to know what makes your employees get out of bed in the mornings – what issues are affecting them, are they happy at work, what would increase their motivation? And there’s only one way of finding this out: by asking them. Open communication channels – such as pulse surveys run through an app like Quinyx, or through regular face-to-face meets – can’t be compromised if you want to build and maintain an energised, productive team.
The bottom line is that recognising and valuing your employees is vital. Our recent State of the Frontline Workforce study, of 13,000 deskless workers in retail, hospitality and logistics-based roles, found that around a third of staff want to quit because they feel undervalued, while a similar number say they would be more motivated by more recognition. Your reward strategy is simply not worth skipping over.
2. Think beyond money
Money does indeed make the world go round, but it’s certainly not the only way to motivate staff. The right non-monetary rewards can mean as much, if not more, to employees than cash-based incentives – they’re more likely to be memorable and have greater long-term impact.
They might include wellness initiatives such as gym memberships, discounts for leisure activities and social events. And while not ‘big ticket’ rewards, recognition programmes that highlight workers’ achievements and contributions – via company-wide announcements, newsletters, or internal communication platforms – boost morale and build a culture where good work never goes unnoticed.
Additionally, offering opportunities for skill development, mentoring programmes, or job rotations are likely to be highly valued by employees seeking career advancement.
3. Consider ‘gamifying’ your rewards
‘Gamification’ describes point-based or badge systems, where employees earn virtual rewards through their performance or completion of specific tasks or projects. The virtual rewards are then redeemed for real-world perks.
As we outlined in point 1, ‘gamified’ reward systems may motivate some employees more than others, but are generally a fun way to increase engagement, encourage light-hearted competition and drive performance - the Quinyx task management app incorporates a badge system that has garnered some great feedback from users.
Gamified rewards also help to boost collaboration and teamwork, as employees work towards shared goals. And regular updates on team and individual progress can ramp up the excitement and motivation further still.
Interested in factoring in a reward system into your task management and scheduling platform, for an all-in-one solution? Find out more about how we can help.
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