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5 Benefits of an Employee Rewards Programme

Updated: Jan 3, 2023

For any business to succeed, it’s important to keep employees engaged all year round by having a positive workplace culture.

Rewards and recognition programmes can serve your business in multiple ways.

Whether you're beginning your recognition programme or looking to refresh what you have in place already, surprising your staff with unexpected gifts is a great way to make people feel appreciated.

Let’s look at the five benefits of a rewards and recognition programme.

1. Motivate and engage employees

Success-themed rewards generally create more success. If you’re rewarding an employee for doing a great job on a project or for hitting a target, the boost in morale an unexpected gift provides has a lasting effect.

Poor engagement rates have been directly linked to a decline in productivity, in fact, a staggering 85% [1] of employees are either not engaged at work or feel actively disengaged.

Unexpected rewards make people pay more attention to what happens next and can have a tremendous effect on how well employees are motivated.

2. Boost Productivity

When your employees are engaged, your business is likely to be more profitable. In fact, research shows that higher employee engagement levels can increase profitability by 22%. [2]

A positive atmosphere at work is the key to boosting productivity and collaboration, and a happy team in turn will improve your business and make it more efficient.

3. Raise your company profile

Most people imagine customers when they think of brand ambassadors, however, your employees are one of the most credible sources to promote your company goals and values. Whilst it’s rare to find employees promoting their company’s mission, this doesn’t mean they don’t believe in their company. Most people enjoy sharing their success and benefits, and many find self-promotion comes naturally.

Traditional company benefits, whilst attractive to new hires, are rarely bragged about. Whilst a great dental plan might make it onto Glassdoor, it’s unlikely to feature on an employee’s Instagram story. Whereas a new starter finding a welcome gift box on their desk, or a remote working finding a surprise first-day package at the door, is more inclined to share this gesture with others.

4. Improve your company’s work culture

We’ve all seen companies being named the best places to work. Winning factors include offering a great work environment, in terms of collaboration and benefits.

Implementing a culture of reward and recognition can foster a more collaborative workforce and a more enjoyable working environment. 50% [3] of employees believe that thanks and encouragement from their managers improve their relationships.

Rewarding your employees with gifts that are personal to their recognition increases your organisation's visibility and positive perception of your company.

Your company culture is a major part of your brand identity. It also has a direct effect on your operations. Your company culture is a key driver in how you fulfil your mission statement and the promise you’ve made to your customers.

5. Attract, inspire, and keep talented people

Reward programmes not only incentivise employees to work harder but they’re also linked to reducing employee turnover. Companies that implement employee recognition programs enjoy a 31% [4] reduction in voluntary turnover.

Rewarding employees for their efforts can have a huge impact on increasing retention. It goes without saying that rewards need to be layered on a baseline of fair pay, promotion opportunities, training, and good leader leadership. However, rewards and recognition are well documented to have a positive impact on morale, which in turn generates a great company culture.

Moreover, your business is more likely to attract new talent if they see your gifting programme first-hand from other employees. It’s likely that many would prefer to work for a company which demonstrates a culture worth shouting about.

Employee retention also reduces recruitment costs, whilst boosting operational excellence. Long-term employees are more likely to grow and develop, in turn helping you to keep a high level of operational excellence and customer satisfaction.

About Colleague Box

Designed to deliver happiness Colleague Box provide gifting solutions, helping organisations connect with employees, customers, or prospective clients. Gifts are fully branded with your company logo and personalised message, with boxes despatched directly to home or work.

Organisations can choose pre-designed gift ideas, or curate their own to suit any occasion; from welcoming new starters, awards evenings, direct mail campaigns, or a simple thank you.

Custom gift portals and address upload templates make multiple recipients a seamless process, whether you’re sending 10 or 10,000 boxes.

Get in touch to discuss your gifting requirements or arrange a visit to our showroom for a brew and some tasty samples!

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