Going Digital for Employee Rewards and Recognition
The significance of employee recognition is understood among all businesses. Businesses are investing more in employee appreciation for higher employee engagement and satisfaction levels. As all things go digital, so are employee rewards and recognition.
More firms are recognizing that they must go digital with employee appreciation to reach their entire workforce (including those working remotely), build community and fulfill modern employee needs.
Digital transformation is affecting all aspects of business, and businesses can benefit from digital employee recognition. The following are the benefits of going digital for employee rewards and recognition:
Easy And Immediate Recognition
Rewards have always been a way for organizations to keep employees engaged and motivated. However, traditional methods of employee appreciation, like bonuses, promotions, and pay increases can only happen rarely. Moreover, they may take a long time to be implemented, and the longer it takes to reward an employee, the less meaningful it is.
Digital employee rewards and recognition have the significant benefit of being easy and instant. Immediately rewarding employees helps them feel more connected to the business and its performance, especially remote employees.
Employees can simply click on a link or scan a QR code to receive or access their rewards. Being able to instantly redeem their rewards makes employees happier and more satisfied which increases engagement and performance.
With digitization, comes an increased need for personalization, even as it pertains to workplace results. Moreover, the more personal the recognition and reward at work, the more meaningful it is. Generic rewards like cash bonuses are no longer the key to employee engagement in the workplace.
Employees are different, and so are the things that motivate them. Therefore, total rewards for employee appreciation cannot be generic. The rewards must be customized to the individual, which digitization enables.
A digital rewards system can take employee data into account based on feedback to determine the best way to recognize their effort and performance. The more personal their rewards, the more engaged and satisfied your employees will be.
The primary reason behind employee rewards and recognition is to boost confidence and morale. Positive reinforcement is one of the most powerful ways to motivate employees, and the results prove it. However, some forms of recognition may be biased based on gender, race, etc.
Digital forms of employee recognition and awards allow for enhanced transparency, which the modern workforce values greatly. Employees in a company can have access to the information and reasons why an employee receives recognition and a reward. They can hence see the appreciation was justified.
The transparency will reflect that your company gives out rewards and recognizes employees based on performance and results. Your employees will trust you, and the rewards system makes them work harder to also achieve recognition.
The main reason why most companies perform digital transformation is to increase efficiency and reduce costs. Firms will hence achieve the same ends by digitizing their employee appreciation methods.
Rewards and recognition are fantastic motivators for employees, but they can cost the organization a significant sum. Worse still, the employees may not fully appreciate the expensive rewards they receive.
Going digital will help reduce these operational costs in several ways. For starters, firms can get the best gifts for their employees, which may be cheaper than the rewards they would otherwise give them. There are also fewer delivery or shipping fees since the rewards are digital.
Employee Rewards And Recognition Going Digital
Recognizing your employees’ performance and rewarding them for it has always been seminal to organizational success. Going digital for employee rewards and recognition has many benefits for companies. The above benefits are just the tip of the iceberg. All firms should consider the digitization of their employee rewards and recognition programs.