We’ve recently looked back at the evolution of employee recognition and benefits. Past decades have seen the introduction of widespread changes that benefitted entire workforces and groups of employees, – from purpose-built homes to pensions. We believe that the future of employee recognition will be focused on getting a deeper understanding of employees to produce rewards geared towards individuals.
Marketing can already be customised based on customers’ specific interests and demographics. This technology could feasibly be leveraged for rewarding employees.
With the onset of AI and machine learning systems, data gleaned from employees’ public profiles could be used to build and generate more personalised rewards, which would (theoretically) be much more effective, due to their specific individual appeal. A small amount of data from social media platforms could enable you to focus on an employee’s niche interest or hobby, for example.
Leveraging data and using information in this way can be incredibly powerful.
Showing this level of understanding demonstrates to your staff that you are interested in treating them as individuals and want to invest in them personally. It can help towards building loyalty as you’re demonstrating that non-cash rewards aren’t generic and easily obtained. By offering the opportunity for employees to be rewarded with highly desirable items, or to enjoy things like experience days that they’ve always wanted to do, you are more likely to drive performance and employee engagement.
Personalised rewards help you to avoid any difficulties in catering for a wide demographic of interests, and to provide a reward that surprises, delights and actively engages employees.
You could, for example, identify the football fan in your team and offer them executive box seats for a major home game, to recognise their consistently high performance.
Marketing can already be customised based on customers’ specific interests and demographics. This technology could feasibly be leveraged for rewarding employees.See how our Employee Recognition ideas can benefit your team
How can personalised rewards and employee recognition benefit a business?
In creating a point of difference to your competitor employers, you can help your business attract talent from across your industry. You can also build a good reputation for how you engage, motivate and reward staff. This can help with wider recruitment and in developing your profile as a worthy employer.
Beyond building a reputation for your business as a provider of effective rewards, there are softer ROI benefits that personalised rewards can offer. For example:
- When tied into training and e-learning, rewards help motivate staff to build and develop their skills
- As rewards are shared across social media, you create good exposure for your brand
- Reduced attrition – due to the nature of rewards being time-sensitive, employees feel engaged with your brand and are more likely to stay for the next recognition milestone.
You could also consider tying highly tailored rewards into other areas of your business, such as a sales channel, if you have one. Doing this could help build a stronger relationship with your partner and generate much more effective mindshare across your sales channel teams.
These benefits help to generate stronger positive results for a business. This is not only through better motivation for staff, but also by improving employee retention and loyalty – allowing you to keep staff who have honed their skills as part of your business.
We are CR Worldwide
Brands of all types trust us with their Employee Recognition
Helping you better reward your staff
When thinking about the future of employee recognition, we believe that having deeper understanding of your staff, driven by data and insight, will allow you to target individuals and tailor impactful rewards towards them.
At CR Worldwide, we can quickly design, launch and optimise powerful and impactful recognition and rewards programmes for your business. Integrating a recognition program into your company can help you achieve the deliverables you need to get the most from your employees. You can keep them happy, satisfied, engaged and focused on your company’s goals – all year round. Our platforms are:
Easy to implement — They can be tailored to suit your business needs and goals, meaning you can be ready to implement an incentive scheme quickly.
Easy to use — They are designed so that they’re easy to understand and use. This allows staff to easily work towards their reward targets, track their sales, and compete with other businesses.
Easy to manage — They offer real-time reporting in participation with ROI and budget management. This means you can effectively manage, organise and track your business customers’ performances, set rewards according to your budget, and get the most value out of your incentive scheme.
Understanding how to get the most out of your staff and build loyalty through effective recognition isn’t a new idea, as our employee recognition timeline shows. However, it is important to keep an eye on what could potentially come next in order to adapt to changes within your own workforce.
We’d love to help you engage, motivate and inspire your business’s customers with our innovative employee recognition services. To speak to a member of our award-winning team: