Maintaining low attrition and turnover rates requires robust recognition programs with meaningful rewards. But without scaling these programs for growth, genuine appreciation and intrinsic motivators will eventually get lost in the shuffle. Before you know it, talent acquisition costs start to rise while retention falls.
Learn how to administer personalized reward systems for growing workplaces through digital recognition tools, including peer-to-peer platforms, social intranets, and points-based structures. Plus, discover ways to improve your program through automation, data insights, and employee feedback.
Types of Personalized Awards
Think about the goals you want to achieve with your recognition program, such as quarterly sales objectives, employee morale, and higher retention. What types of awards can help you achieve these goals?
You want these rewards to have an actual impact and inspire continued growth and performance. Devote the first year of your program to testing different rewards, gathering employee feedback, and tracking performance metrics to develop the right program stack.
Start with the classics, like optic and prism awards with corporate crystal gift engraving. These rewards are timeless for a reason, as they serve as daily reminders of high performance and company values. Department heads can present them at work galas, along with swag baskets filled with branded mugs, wines, specialty foods, and gift cards.
Galas are also a type of experiential reward, but you can go even further by gifting employees with retreat stays, courtside basketball game tickets, travel vouchers, or reservations at the city’s top restaurants.
Additionally, company leaders can make donations in employees’ names. After earning a quarterly sales reward, the company could donate to an employee’s charity of choice. This idea promotes a culture of giving while enriching the company’s goodwill brand.
Recognition Tools
Next, develop a communication strategy for your recognition program. Choose a digital collaboration platform that can accommodate a growing workforce, such as Slack or Microsoft Teams. Clearly communicate individual and team benchmarks for rewards, including tiered-reward offerings and timelines for completion.
Once you have a dedicated central communication hub, schedule morning meetings to launch a new “rewards event” every month or quarter. You could also hold small weekly performance “sprints” for a chance to earn bonuses, movie tickets, or gift cards.
Peer-to-peer platforms promote a culture of recognition among employees, encouraging thoughtful shout-outs and a greater willingness to help others. These platforms also keep remote workers and in-office employees connected; recognition and rewards can help mitigate feelings of isolation, improving morale and performance.
Integrate a point-based “economy” into your recognition program. Set up dashboards with progress charts that allow employees to track their points. If you’re administering digital rewards, a burst of confetti could appear on the dashboard once an employee reaches their goal, followed by an emailed gift card.
Program Management Tips
Consistency is key in a successful recognition program. Gather feedback after every reward round to see where you can improve. You may need to adjust a timeline, points threshold, or reward offering.
Analyze your participation data to see if you need to adjust your communication strategy. If some hardworking employees aren’t getting reward program announcements, automate your emails to avoid human errors in your contact list, or adjust your messaging to encourage greater participation.
Automate other milestones to maintain a culture of digital recognition, like happy birthday wishes and work anniversary shout-outs with accompanying digital gift cards to coffee shops.
Build a Proactive Recognition Program
Increase performance and retention rates through a scalable recognition program that issues meaningful rewards, uses measurable point systems, promotes genuine appreciation and values, and continuously adapts to new insights.
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Lynn Martelli is an editor at Readability. She received her MFA in Creative Writing from Antioch University and has worked as an editor for over 10 years. Lynn has edited a wide variety of books, including fiction, non-fiction, memoirs, and more. In her free time, Lynn enjoys reading, writing, and spending time with her family and friends.
