Why Recognition Makes All the Difference - Igniting Employee Happiness with Fond Rewards

In today’s competitive business climate, it turns out that one of the best things you can do for your employees, brand, and bottom line is give employees the recognition they not only deserve, but crave.

Here’s what we know:

• Organizations that excel at employee recognition are 12 times more likely to generate strong business results
• Companies with recognition programs enjoy a 31 percent lower voluntary turnover rate than companies without such programs
• Companies with happy employees see higher productivity (31 percent) and higher sales numbers (37 percent)

But, fewer than 14% of small and midsize businesses have streamlined recognition programs.1 In response to this need, we’ve introduced Fond Rewards -- a first of its kind employee recognition platform. Company leaders, managers, and employees are now empowered to positively influence the future success of their organizations by acknowledging and rewarding the work and behaviors of those around them, ultimately leading to an increase in employee happiness.

Here are a few things you can enjoy while using the new Fond Rewards platform:

1. Lower Employee Turnover

It’s no secret that employee turnover is difficult to fully address even for the most astute. The financial and operational toll of turnover can cripple small and midsize companies if leaders aren’t careful. 

That said, appreciating your employees goes a long way. Fond’s mission is to help companies build places where employees love to work, so a rewards and recognition program was an obvious evolution to our Perks product. It gives companies a way to easily and effectively invest in their employees’ happiness, recognize their achievements, and help make their lives better inside and outside of the office.

 2. Build a Culture of Appreciation

The way business is conducted today has changed. Employees are looking to be recognized for their contributions in the workplace. In fact, 89 percent of employees claim that recognition for their efforts makes them happier at work. It’s more than just being happy at work, however, as high employee morale is great for a company’s culture. When employees are provided an enjoyable yet challenging environment, everyone benefits. Add in some perks and appreciation, and high turnover is on the run.

  3. Increase Productivity

We know that employee productivity and engagement are significant business issues. Using Fond’s new employee recognition platform, leaders can help boost both of these through the art of employee appreciation. When leaders take the time to invest in their workforce and show a genuine display of appreciation, they will in turn create a workforce that is effective and engaged.

A Unified Solution for Our Customers

Having to use different solutions for one’s perks and rewards program is cumbersome and inefficient. The benefit of the new Fond Rewards release is that customers now can have their perks and rewards programs combined on one platform.

 But don’t take it from me. “The Fond rewards and recognition tool is a competitive differentiator for any organization,” said Michael Rochelle, Chief Strategy Officer and Principal HCM Analyst of Brandon Hall Group. “It offers a personalized experience with a simple and engaging interface, supported by a dedicated customer success team to ensure a delightful culture is cultivated where meaningful contributions are rewarded and recognized perpetually between managers and employees and among peers.”

 With this addition, Fond extends its Perks product of exclusive employee discounts to become the only company to provide both perks and rewards in one unified platform, offering company-to-employee, manager-to-employee and peer-to-peer recognition with customized notes that make employees feel valued.

Fond Rewards Key Differentiators

The new platform is designed to be uniquely simple to use and personalized. Key features of Fond Rewards include:

•  Multiple Recognition Occasions and Designs: Celebrate everything from a job well done to employees living your core values, or create an occasion that matters most to you using designs that delight.
• Diverse Rewards Options: From movie tickets to charitable giving to shopping, Fond lets employees choose from a range of rewards options, ensuring there’s something for everyone.
• Pile on the Praise: Recognition is most impactful when it’s broadcast, so share your recognition with a team or company-wide, that way others can offer kudos too.
• Centralized Analytics Dashboard: Manage program progress and success including, overall budget spend, available recognition credits, and monitor the most recognized and most generous employees, all in one user-friendly interface.
• Mobile App for On-the-Go Appreciation: Recognize employees while you’re on-the-go, or redeem rewards whenever it’s most relevant.

 Fond Rewards has been revolutionized to help companies impact their people as well as their bottom line.

 Learn more about how Fond Rewards can help you or download our new ebook The Insider’s Guide to Employee Recognition – The Secret to Building a Super Successful Program.

 * Fond “Rewards & Recognition Market Landscape" Survey. Fond research conducted by Beehive Research. September 2015.