I. As the U.S. economy climbs out of an economic rut, today’s organizations and employers are in a process of recovery, financially and mentally. Now that budgets are beginning to expand back to healthy states, it’s time for companies to begin looking at a work culture practice that may have been cut during rougher years: reward and recognition programs. Loyaltyworks, an Atlanta-based incentive company that has been in the industry for over 30 years, offers online reward programs to help companies climb back to pre-recession productivity levels. In this article, we will discuss how reward programs are a cost effective morale booster that can combat employees’ post-recession fears while increasing engagement and motivation in the workplace. II. Post-Recession Employee Attitudes Are Lingering In many ways, today’s leaders and employers are dealing with a traumatized workforce. This is particularly true of Millennials, who are the largest generation in the workforce. Since many of them began working during the 2008 recession, their career choices were based on job insecurity. As stated in a Presidential document, 15 Economic Facts About Millennials, “As unemployment surged from 2007 to 2009, many Millennials struggled to find a hold in the labor market... Their early adult lives have been shaped by the experience of establishing their careers at a time when economic opportunities are relatively scarce. Today, although the economy is well into its recovery, the recession still affects lives of Millennials and will likely continue to do so for years to come.” Other workforce generations—Traditionals, Baby Boomers, Gen X-ers—are likely still reeling from the recession, even if they do remember much better economic conditions. Long story short? Employees in your organization have trust issues. They may be distracted by fears that they’ll be fired or laid off; they may feel guilty for surviving austerity measures and lay-offs; they may be preoccupied by rumors about the company underperforming or “cutting back.”

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How Employee Recognition Solves Post-Recession Pessimism

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As the U.S. economy climbs out of an economic rut, today’s organizations and employers are in a process of
recovery, financially and mentally. Now that budgets are beginning to expand back to healthy states, it’s time for
companies to begin looking at a work culture practice that may have been cut during rougher years: reward and
recognition programs. Loyaltyworks, an Atlanta-based incentive company that has been in the industry for over 30
years, offers online reward programs to help companies climb back to pre-recession productivity levels. In this
article, we will discuss how reward programs are a cost effective morale booster that can combat employees’ post-
recession fears while increasing engagement and motivation in the workplace.

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Click to edit Master title styleIn many ways, today’s leaders and employers are dealing with a traumatized workforce.
This is particularly true of Millennials, who are the largest generation in the workforce.
Since many of them began working during the 2008 recession, their career choices were
based on job insecurity. As stated in a Presidential document, 15 Economic Facts About
Millennials, “As unemployment surged from 2007 to 2009, many Millennials struggled to
find a hold in the labor market... Their early adult lives have been shaped by the experience
of establishing their careers at a time when economic opportunities are relatively scarce.
Today, although the economy is well into its recovery, the recession still affects lives of
Millennials and will likely continue to do so for years to come.”
Other workforce generations—Traditionals, Baby Boomers, Gen X-ers—are likely still
reeling from the recession, even if they do remember much better economic conditions.
Long story short? Employees in your organization have trust issues. They may be distracted
by fears that they’ll be fired or laid off; they may feel guilty for surviving austerity measures
and lay-offs; they may be preoccupied by rumors about the company underperforming or
“cutting back.”
Post-Recession Employee Attitudes Are
Lingering

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Now is the time to soothe some of those common post-
recession anxieties with a positive work culture and
employee recognition practices, which will improve
motivation and engagement levels while bolstering
company loyalty at the same time. One of the ways
companies can do this is by utilizing a cost effective reward
and recognition program, which helps to create a positive
work atmosphere and enhance performances by:
• encouraging team solidarity
• singling out personal achievement and making program
participants more invested in their roles
• reinforcing your company’s core values
• keeping staff focused on specific goals
• communicating that you are invested in your employees’
success and wellbeing
• serving as a reference point for executives to track
increased productivity and key performance indicators
A Reward Program Doesn’t Have to Be a
Costly Luxury

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Click to edit Master title styleMany companies are already investing in an incentive program, but
research by the Incentive Research Foundation suggests that “most
organizations lack the knowledge or will to create properly constructed
programs that yield desired results.” At Loyaltyworks, we’ve found that
these problems usually arise from not properly focusing the program in
the beginning (ie. not setting the right goals), not measuring the
program’s effectiveness for ROI and not updating the program to keep up
with relevant objectives.
By using an online reward program, such as those provided by
Loyaltyworks, you can combine multiple incentive initiatives (ie.
employee recognition, training, sales incentives and their various
promotions). The Loyaltyworks’ modular, á la carte method allows you to
strategically select the features most relevant and beneficial to your
goals. This way, you can consolidate your budget toward one overarching
incentive program with multiple functions and comprehensive
administration.
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Companies often persist in using cash incentive programs despite the problems associated with them. Many organizations
strain to give their employees increasing annual compensation or bigger and bigger cash bonuses. And the accumulation of
cash bonuses into the rest of an employee’s compensation tends to normalize it, creating expectation instead of excitement.
Online reward programs such as those Loyaltyworks offers come with an extensive reward catalog featuring millions of
merchandise, travel and ticketed event items. Rather than cash, program participants receive points they can redeem for
items in this catalog. This gives rewards variety, substance and significance. According to a study by the University of Zurich,
“an increase in fixed wages has no significant impact on workers’ productivity. However, a gift in-kind of equivalent monetary
value has an economically and statistically significant effect on productivity. Workers provide 30 percent more output on
average.”
Online reward programs also include employee recognition options such as a peer-to-peer and manager-to-peer social media
wall. Various studies have concluded that recognition can be just as effective a motivator—even more so—when compared
to cash rewards. Research by the Japanese National Institute for Physiological Sciences found that “these seemingly different
kinds of rewards—a good reputation versus money—are biologically coded by the same neural structure, the striatum.”
The take-away? Not only do non-cash, online reward programs provide tangible rewards that are more appealing than cash,
they also offer recognition tools that allow you to turn your work culture into one of positivity and praise, which has a
tremendous impact on engagement and performance. Not only are non-cash rewards more cost effective, they result in a
happier workforce.
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Non-Cash Reward Programs Are
More Effective and Less Expensive

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As you implement your reward program, there are
four key concepts you should keep in mind to
maintain the program’s effectiveness:
1. A Clear, Overarching Goal
Transparent and specific goals are vital to the
success of reward and recognition programs. An
easy-to-understand objective keeps everyone on
the same page, maintains consistency and
facilitates executives’ ability to regularly monitor
and measure progress toward that goal.
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Run Your Reward Program Effectively

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Click to edit Master title style2. Incorporate Your Company Values
Recognition programs are an excellent opportunity to establish and
reinforce your company values. Not only can you reward employees on a
case-by-case basis for their productivity, you can solidify their identification
with your company and its particular culture.
3. Include Everyone
Because online reward programs are more cost effective than cash
programs, providing both tangible rewards and visible recognition, you can
use them to reward more people, more often. This ensures that you’re not
just driving your top performers, but increasing the productivity of average
(your biggest group) and low performers, as well.
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Run Your Reward Program Effectively

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4. Take Advantage of Individualism
Don’t underestimate the power of choice and the personal
significance that comes with it. With a more diverse
contemporary work place than ever before, it can be difficult to
offer rewards that appeal to everyone in your organization. When
your program participants are allowed to choose their own
rewards, it eliminates the wasted cost of handing out rewards
that aren’t desirable or motivating.
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Run Your Reward Program Effectively

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As your employees and your company emerge from
hard times, you may still be feeling the sting of the
economic collapse. The 2008 recession set a tone of
pessimism and demotivation for many workers,
however. Online reward programs can help you
establish an upbeat and engaged workplace
environment, where your employees will thrive and
celebrate each other’s success. With non-cash
reward options and a strategic approach to setting
up your program, you can accomplish engagement
and productivity goals without straining your budget.
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Conclusion