7 Tips for Modernizing Employee Recognition and Rewards

Looking for the best employee recognition program best practices and ways to modernize them? Here are 7 tips to do just that.

Rewarding employees for working hard is one of the most effective methods to enhance their performance. It motivates them to perform even better. The rewards do not necessarily have to be in a monetary form. Earlier, human resource departments had to visit employees in person to appreciate them on their work. However, technology has simplified the process. With the help of technology, SaaS and web-based applications, businesses can reward their employees in a more convenient manner.

1. Efficient Evaluation. Advanced software tools allow HR departments to evaluate the performance of their employees effectively. There are various parameters such as performance, sales targets and behavior metrics that assist in evaluating employees on the basis of individual performance as well as a team. A large variety of rewards are also available on online portals. The companies provide access to particular rewards and the employees have the option to choose them as per their preference.

2. Accessibility. The technology-based reward program is easily accessible for both HR department as well as employees. The HR managers do not need to visit employees individually to share the details of incentives. Instead, they can share the information on the intranet portal. The users do not need to remember separate passwords as they can directly access them from the premises of their office. Employees have the authority to visit the program as and when they want.

3. Quick Results. Technology has made it convenient for businesses to carry out the tasks within hours that previously took weeks, or even months to be completed. The Global Reward Solutions usually operate on the basis of points system. The more the points, the better rewards are accessible to employees. Various companies have started their use due to their increasing benefits. The instant benefits significantly encourage employees and enhance their performance and engagement.

4. Business Growth. The effective employee reward programs not only benefit employees, but they also help in business growth. It increases the productivity of employees due to which they are able to actively carry out the assigned duties. The businesses need to invest more on recognition programs just like other campaigns to get desired results. The software also points out the lacking in the system and help businesses to improve them.

5. Social Media Integration. It is a general observation that appreciation has a more positive impact when done in public. A majority of employee reward programs offer social media compatibility. You can share the appreciative message with masses to encourage your employees. Uploading posts on social media about employees motivates them to continue their high performance and inspires others to learn from them.

6. Customization. You can customize an employee reward and recognition program to accommodate business requirements. You can choose incentives that employees can choose from. Moreover, the design and other features are also flexible and allow even non-technical users to modify them with ease.

7. Data Management. The old method of maintaining data on papers is outdated. Software systems provide efficient data management. They can store a large quantity of data. However, effective security measures are extremely important to avoid unauthorized access to the database. The employee information is sensitive and only the authorized users should be able to view it.

According to Whippio, “a modern R&R program gives you visibility and control into recognition spend, which reduces the risk of tax infringements.”

Do you have other questions about modernizing your company’s employee recognition and rewards? Drop us a note in the comments – we’d love to hear from you.

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Beer Money
Beer Money
Brian is the chief editor of beer money and is a personal finance expert who has spent the last few years writing about how anyone can make oney online. He has been fortunate enough to have appeared in several online publications, including Yahoo! Finance, NASDAQ, MSN Money, AOL, Discover Bank, GOBankingRates, and more. He is also diversifying his portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in hands off real estate investing via an app called Fundrise.