Have you ever been given a medal for coming first in a race? Or a bottle of bubbly for helping your neighbours move? Well, that’s reward! Any organisation intent on growth needs to reward its employees as a matter of course. Reward come in many shapes and sizes though – don’t assume that it all boils down to pay.
For most people, pay is an obvious reward. Pay should be dependent on skills and experience, but deciding what your employees are worth is no walk in the park. It takes careful consideration to come up with a financial package that’s fair and motivates people to deliver.
There’s far more to reward than just pay, however. Time and again we find that people really value employee benefits, particularly when they have freedom to choose what they would like. Employee benefits are a fantastic added incentive when recruiting new talent, and show employees that you care about them. If your employee benefits scheme is presented online with an attractive, easy-to-use employee befits platform, it really makes an impact. The great news is that we understand the synergy between HR and employee benefits far more than most. Visit our employee benefits platform page to find out more.
Most people are aware of how much – or how little – they enjoy coming to work. Taking steps to improve staff wellbeing makes sense because it rewards the business as well as its employees. Whether you undertake a fundamental review of your people strategy or simply introduce healthy snacks and exercise classes, your employees will feel the effect. Take a look at our wellbeing pages to see how well we understand this important aspect of reward.
Bonus and incentives
What happens when your super salesman gets no greater reward than the salesman who couldn’t care less? Demoralisation, more than likely. Bonus schemes and employee incentives are great for motivating people who thrive on being rewarded for their efforts. And bonuses don’t just apply to sales – you can create performance related bonuses and incentives for literally any area of your organisation.
Many people enjoy developing their skills. Offering to sponsor their learning and qualifications as part of their reward package is a method that works wonders when used well.
How we can help
Our HR professionals have developed enough employee rewards strategies to create thousands of happy people, and we’re always ready to develop more. Why not let us:
- Help you understand what you need to achieve
- Review and update your current employee rewards strategies
- Conduct employee surveys to understand what motivates your people
- Create competency frameworks to form the basis for reward
- Develop performance related systems
- Create reward policies and procedures
FREE DOWNLOAD: ‘Employee Benefits Platform: happypeople from PES’
Simply fill in your email address to access the download link.