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Rewards & Recognition


THE REWARDS AND RECOGNITION REVOLUTION: PUTTING PEOPLE FIRST

 * Team Advantage Club
 * October 23, 2023

The rewards and recognition revolution is about employees feeling valued and
recognized for their contributions. Read our tips for designing and implementing
a people-first R&R.

The conventional approach to incentives and recognition has failed. It focuses
too much on individual performance and not enough on teamwork. It is overly
focused on monetary rewards and not enough on non-monetary awards that are more
important to employees. And it is overly focused on short-term results rather
than long-term success. It’s time for a revolution, for a people-first rewards
and recognition approach that prioritizes employee enjoyment and well-being.

Organizations are realizing the enormous impact of putting their employees’
well-being and experience first. Gallup discovered that 67% of employees
worldwide are not interested in their work, underscoring the critical need for
firms to rethink their employee rewards and recognition initiatives. The
Recognition and Rewards Revolution has taken center stage, with a strong
emphasis on putting people first. This innovative method goes beyond typical
ideas about employee benefits and remuneration.




A PEOPLE-FIRST APPROACH

> Rewards and recognition are considered necessary by 83% of employees. However,
> just 43% are content with their present reward and recognition systems.
> 
> Deloitte

What are the people-first rewards and recognition?

Employee-centered rewards and recognition revolution put people first. This
means that the incentives and recognition program is built with the employee in
mind, taking their unique needs and preferences into account.

A people-first approach to incentives and recognition prioritizes employee
satisfaction and well-being. It is about cultivating an appreciation culture in
which employees feel valued and recognized for their contributions.
People-centered rewards and recognition revolution is critical for attracting
and keeping top personnel. It is also necessary to foster a positive work
atmosphere in which employees are engaged and motivated.

Start by focusing on the employee experience and well-being if you want to
improve your company’s rewards and recognition programs. Create an appreciation
culture and provide a variety of meaningful awards, both financial and
non-financial, to your personnel.

Suggested Read

Creating An Employee Rewards And Recognition Program


PEOPLE-FIRST REWARDS AND RECOGNITION ARE MEANINGFUL

People-first rewards and recognition revolution are beneficial when they are
tailored to the employee’s specific needs and interests. This entails spending
time getting to know your employees and learning what motivates them.

Some employees, for example, may value monetary incentives, but others may
choose non-monetary incentives such as time off or peer recognition. Some
employees may be motivated by prospects for advancement in their careers, while
others may be driven by the chance to have a positive social influence. Here are
some examples of meaningful rewards and recognition:

 * A handwritten note from management expressing gratitude to an employee for
   their efforts on a project.
 * A public thank you to an employee who went above and above.
 * For a job well done, a gift certificate to an employee's favorite restaurant.
 * A nomination for employee of the month.


PEOPLE-FIRST REWARDS AND RECOGNITION ARE TIMELY

People-first rewards and recognition are presented as soon as possible once the
employee has accomplished something. This conveys to the employee how much their
contributions are cherished and appreciated.

For example, if an employee closes a big deal, their boss could write them a
congratulations email or make a quick phone call to express gratitude. If an
employee goes above and beyond to assist a customer, their boss may provide them
with a cash incentive or a gift card.


PEOPLE-FIRST REWARDS AND RECOGNITION ARE PUBLIC

People-first incentives and recognition become public when they are presented in
such a way that the employee’s achievements are celebrated by their coworkers
and managers. This demonstrates to the employee that their efforts are valued by
the entire team or organization.

A manager, for example, could publicly recognize an employee during a team
meeting or all-hands meeting. A corporation could write a blog article or share
a social media post about an employee’s achievements. A corporation could
potentially hold an awards ceremony to acknowledge the accomplishments of its
employees.


PEOPLE-FIRST REWARDS AND RECOGNITION ARE INCLUSIVE

The program becomes inclusive when everyone in the organization, regardless of
role or position, is eligible for rewards and recognition. This demonstrates
that everyone’s contributions, regardless of rank, are valued.

A company, for example, could offer a rewards and recognition program open to
all employees, from entry-level to senior executives. An organization may also
have a number of different incentive and recognition programs to appeal to
various employees.

Suggested Read

IMPLEMENTING EMPLOYEE REWARDS AND RECOGNITION THE RIGHT WAY


THE ROAD TO THE PEOPLE-FIRST R&R REVOLUTION

Organizations must consider and personalize their programs to fit everyone
within the organization, from leaders to managers to employees, in order to
accomplish a people-first R and R revolution. This will help guarantee that the
programs are meaningful to everyone and have a good influence on employee
engagement and motivation.

When developing a people-first R&R program, keep the following four points in
mind:


CREATING VENUES FOR LEADERS

Leaders have a critical role in establishing an appreciation and recognition
culture. They must be visible and active in the rewards and recognition program,
and they must recognize their team members for their contributions on a frequent
basis.

Organizations can provide opportunities for leaders to express their
appreciation and acknowledgment in a variety of ways. They can, for example,
coach leaders on how to deliver successful recognition or create chances for
leaders to honor their team members in public forums like team meetings or
all-hands meetings.


ALIGNING TO HR NEEDS

The HR team is crucial in the design and implementation of the rewards and
recognition program. They must understand the demands of the organization and
its employees and design a program that is consistent with the overall HR
strategy.

By integrating the HR team in all aspects of the program creation and
implementation process, organizations can guarantee that their R and R program
is aligned with HR needs. The HR staff can advise on best practices and assist
in ensuring that the program is fair and equitable.


FULFILLING EMPLOYEES' EXPECTATIONS

It is critical to consider employee expectations while establishing an R&R
program. What kinds of awards and recognition would be most important to them?
How do they want their contributions to be recognized?

Organizations can solicit employee input on their expectations through surveys,
focus groups, and one-on-one talks. This feedback can then be used to create a
program that fulfills employees’ needs and expectations.


OPTIMIZING FOR MANAGERS

Managers play an important role in providing the rewards and recognition program
to employees. They must comprehend the application and know how to use it
effectively. They must also commit to recognizing and rewarding their team
members for their efforts.

Managers must be provided training and support to improve the R&R program. This
training should cover the program’s fundamentals as well as best practices for
effective recognition. Organizations can also provide managers with materials
such as templates and recognition manuals to assist them in implementing the
program.

Recommended Read

WHAT ARE YOUR REWARDS AND RECOGNITION GOALS – MOTIVATION OR RETENTION

Organizations can build a program that improves employee engagement, motivation,
and performance by focusing on their needs and expectations. Organizations can
personalize a traditional process that risks becoming a dull or uninteresting
activity by fine-tuning their program with a people-first rewards and
recognition revolution. Appreciation that is heard and felt can help to build a
more positive, productive, and thriving workplace.

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TEAM ADVANTAGE CLUB

Follow Author

We are a team of content and feature writers with an expertise in the subject of
employee engagement and Rewards & Recognition strategy within corporate. Our
team comprises of creative writers and subject matter experts who love
de-constructing various facets of employee engagement and recognition.




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