In many cases, employee reward programmes fail to meet the expectations of the sponsor or the reward recipients due to many factors and poor implementation.
Research has found that reward programmes significantly impact an employee’s behaviour and perception of organisational leadership. Hence business leaders and HR professionals need to develop an effective reward system to increase competitiveness and attract, retain and motivate employees.
Do your employee rewards programmes foster a healthier and happier work environment? Do they achieve the aims and objectives of the organisations that sponsor them, or are they well suited for your employees?
In this deck, you will learn the importance of directly motivating employees and how to implement reward programmes to boost morale and loyalty and improve wellness and retention rate.
You will also learn:
How to find the Right Measures for Rewards
The value of reward programmes and their potential consequences
The types of rewards and reward visibility
The distinction and application of appropriate reward programmes
How to design reward programmes to meet future expectations.
1. Cracking The Employee Reward Code
Actionable Strategies for Designing Highly-Effective Reward Programmes
2. Strategic
Consulting
Services
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Corporate decisions
Digital transformation
Are your reward
programmes
tailored to meet
the needs of the
recipients
3. Employee Reward
Programmes…
They are unique programmes designed by
organisations to recognise employees for
their contributions to a company's growth;
Employee reward programme is specifically
designed for a targeted group, in addition to
their compensation and benefits programs.
Effective Employee Reward Programmes
help to keep the team motivated and ensure
that employees feel valued, increase
productivity, employee retention and
engagement.
There is undeniably a business
rationale for rewarding employees,
and it has been demonstrated to be
helpful for companies as it
encourages people to work better,
harder, and smarter and contribute to
the success of the organisation.
4. When we discuss designing effective employee
reward programmes, one size certainly doesn’t
fit all; what may be a reward to some may be a
punishment to others.
Rewarding employees can be tricky, and a lack
of its understanding can cause employees to feel
punished as well as serve the opposite of what
you hoped to accomplish with reward
programmes.
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Click here to read: 5 Strategies to Attract and Retain Talented Employees
5. Rewards…
Rewards may seem positive or
Negative to an employee. Therefore,
business leaders, sponsors or
designers of programmes must
consider what rewards the recipients
would find reinforcing. .
Hence, the reward programme must
be personalised or designed to meet
the specific needs of the individuals
by considering circumstances and
how the recipients will perceive the
award.
6. Key Challenges of
Employee Reward
Programmes
Here are some of the most common
problems associated with poor reward
programme designs and which can cost its
credibility:
⮚ Reward not understood by employees
⮚ Reward not linked to the company’s
business
⮚ Reward not linked to performance
⮚ Reward not linked to individual
employee needs
NOTE: Clearly defined and communicated
criteria for qualifying for the reward upfront
can help prevent these problems from
occurring
7. Gaps to mind
When
implementing
reward
programmes
A case when there is peer
pressure concerning an employee
being rewarded
Reward Syndrome
Rewarding the right person with the
wrong reward, the wrong person with
the right reward, or right group with the
wrong reward
Reward Factor
Creating exceptions that
lead to questions about
recipients being deserving of
reward.
Favouritism
Click here to read: 5 Effective Ways of Developing Employees for Performance
8. Five Levels of Reward Visibility
Individual
Visibility
Worth
Public
Visibility
Reward Sponsor
A private reward with
an individual presenter
(individual’s effort is
acknowledged
privately)
Reward is
presented in front
of colleagues or
teams
Reward is presented
in front of all
employees/workforce
Being rewarded by
the management or
CEO
This is the highest level of
reward visibility (a company
sends employees’ information
to the local paper for publicity)
9. Antecedent
Behaviour
Consequences
The Classic –ABC –
Behavioural Model
It is a tool that examines human
behaviours, the triggers behind those
behaviours, and their impact on patterns.
Any stimulus before specific
behaviour (The drive)
The actions individuals can do
or engage in (The act)
Any event that occurs after a
specific behaviour
(Positive/Negative Rewards)
10. Reward vs
Consequences
Reward programmes have an
impact on employees' behaviour.
And these behaviours have
consequences that can be
reinforcements or punishment.
Efforts are rewarded. And they’re
more likely to be repeated if they’re
rewarded, so it is important to think
through the possible unintended
consequences of your proposed
reward programmes.
12. Reinforcement
Theory
Positive
Reinforcement
Providing rewards or recognition to
reinforce desired behaviours.
Punishment
Delivering aversive stimuli or
removing pleasant stimuli to
change behaviour.
Negative
Reinforcement
Removing aversive stimuli
to reinforce appropriate
behaviour
Extinction
Removing aversive stimulus
or reward after occurrence
to decrease behaviour
13. Recognition
Its objective is to let employees
know that their efforts are
valued.
Appreciation
Recognition and
enjoyment of the god
qualities
Gratitude
expressing gratitude to
employees, for their long
service( a retiree situation), and
presenting them with gifts.
01 04 07
Maintenance
Given for the purpose of
maintaining a current level
of performance.
Milestone
For the purpose of
celebrating notable
anniversaries
Motivation
Usually has monetary value
(could be cash bonuses
commissions)
03 06 09
Reinforcement
ensuring that there are positive
consequences in the workplace,
positive feedback, from
supervisors, or peers
Entitlement
providing privileges to a
certain few (corner offices,
travel, privileges, authority,
etc.)
02 08
Inclusion
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The Nine Types of Reward
Click here to read: Top 4 Reasons for High Employee Turnover (& How to Protect Your Business)
providing privileges for the
purpose of helping employees
develop a sense of belonging
14. Measure the performance of your reward programmes.
Getting the required feedback from your workers is one
approach to do this.
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Keep employee reward programs updated, relevant, simple
to understand without making exceptions or complicated
rules.
How do you design an Effective Reward Program?
Establish collaborative instead of competitive reward goals,
this way employees are encouraged and motivated to work
Ensure that your reward programme has a set lifespan. You
must understand that even most well-designed programmes
may eventually lose their appeal to employees.
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03
04
01
Reward the right attitudes and behaviours in your organisation, such as
exceptional efforts, significant accomplishments, great results, record
performance, completion of a major project or major milestones.
17. What we do
We help organisations solve problems around:
Staff Payroll
Management
Performance management
support
Health insurance management
Executive, Experienced and
Graduate Recruitment
Staff onboarding and
training
Staff records
management
Leave and exit
management
Background
verification
Strategy Development and
Execution
Digital Learning Function Specific
Programmes
Leadership
Development
Digital Content Creation and
Conversion
Assessment and
Development centre
Occupational testing
and Success Profiling
Independent Contractor
Management
Assessor skills training
Professional Employer
Organisation
Employer of Record
Recruitment Process
Outsourcing