The how and why of points-based reward systems: Building an amazing total rewards package that engages employees

Every employee wants to feel appreciated, but the route to an effective employee reward and recognition system can be rather complex. Luckily, modern HR technology has provided a solution in the form of points-based reward systems, which empower employees to choose individualized rewards by redeeming points in the platform’s built-in marketplace. The goal is to increase the impact of recognition from the C-suite on down, turning every thank you into something truly memorable, such as an experience, product, gift card, or charitable donation.?

The three biggest benefits points-based rewards offer include increased employee engagement, improved employee retention, and better connections between team members. However, be sure to follow the below five strategies to ensure your program delivers impactful results:?

1. Communicate, communicate, communicate: Regular communication?is key. Be sure to use a variety of communication channels such as email, meetings, and social media to ensure all employees are aware of the program, understand it, and are motivated to participate.?
2. Solicit and act on employee input: Team members may have ideas for new rewards they’d like to see in the catalog, ways to increase participation, or other methods for boosting the system’s impact. Adopt an?employee engagement platform?that makes collecting and acting on feedback easy with science-backed pulse surveys, AI-powered feedback channels, and robust reporting features that allow people leaders to surface insights at the click of a button.?
3. Encourage effective recognition practices: HR professionals should educate other people leaders on why frequent recognition is so important and how to act as recognition champions for their employees to emulate. They should also stress the importance of connecting rewards with the concrete actions being recognized, so employees understand the reason behind the gift and are motivated to repeat their successes.?
4. Define clear goals and objectives: Do you want to achieve a 100% activation rate with your new recognition and rewards platform? Or are you simply looking for higher scores on the next employee engagement survey you send out? Whatever?recognition-related metrics?or other?types of benchmarks?your company values, it’s important to monitor them over time and adjust your recognition and rewards system as needed.?
5. Adopt an employee recognition and rewards platform: A top-of-the-line employee recognition and rewards solution turns what would otherwise be a burden into an intuitive, fun, and engaging experience. When?deciding between platforms, choose one that makes it easy to combine social recognition with rewards, connects moments of recognition with company values and specific employee actions, and has a wide-ranging marketplace with brand-name selections employees love.?

If you’re ready to start realizing the benefits of a best-in-class points-based rewards system that addresses the values of each employee, modern HR technology can give you everything needed to make your organization’s recognition and rewards program a success. Your organization will see the benefits – from increased engagement to improved retention and better connection – as well as keep its finger on the pulse of those who matter most: your employees.