Employee Appreciation Day is arguably more important than ever this time around. Against a backdrop of the Great Resignation, a cost-of-living crisis and an uncertain economic future, employees want to feel that they are valued by their employer and that they are being rewarded for it. If not, you risk losing staff, as Blackhawk Network research found 35% of employees would seek new employment for better rewards and recognition.
Chris Ronald, VP EMEA B2B at Blackhawk Network discusses the findings of the new research.
While today is a brilliant opportunity to show your appreciation, employers should be doing this all year around. Rewards, incentives and other forms of motivation are a proven way to boost employee engagement, productivity and motivation. In fact, our research found 75% of employees said rewards made them feel valued and showed their company cares about them.
There are countless ways for employers to show their appreciation however it’s always most effective to start by building an employee recognition programme. Each organisation is different and so building your programme will depend on a variety of factors. e.g. your business goals, industry, company size, budget, demographic, etc. However, there are some key things to consider.
Who is responsible for recognition: simple, everyone within an organisation can recognise each other’s efforts and achievements. Importantly, senior leadership and management are critical to a recognition and reward programme’s success – so ensure the right stakeholders are brought in and leading by example.
What to recognise your employees for: each employee will work in their own way and have their unique style of working. But as long as the recognition is meaningful and relevant to each individual employee, taking into account their own skills, strengths and interests, you’ll be on the right track
How to recognise employees: you could try performance-based bonuses, awards for exceptional work (e.g. Most valuable person of the month), or even a donation to an employee’s chosen charity. Whatever you choose, these programmes are perfect for showing employees how much you care – increasing employee happiness and retention.
When to recognise employees: don’t just wait until December or Employee Appreciation Day, there are plenty of moments in the year that are an opportunity to reward, incentivise and motivate. From bringing cheer to the January blues to Random Acts of Kindness Day.
This Employee Appreciation Day be sure to say thank you to your team in some way, but most importantly, don’t let it stop there. Keep recognising your staff and your business and culture will reap its own rewards.
About Blackhawk Network
Blackhawk Network delivers branded payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in branded payments to increase reach, loyalty and revenue. We reliably execute security-minded solutions worldwide. Join us as we shape the future of global branded payments.
For more information, please visit www.blackhawknetwork.co.uk
About Blackhawk Network Extras
Blackhawk Network Extras is a leading, cost-effective, employee engagement and benefits platform. It’s a simple, straightforward, no-hassle way to offer employees a comprehensive range of flexible, personalised workplace benefits that support their mental, physical and financial wellbeing. Benefits include Cyclescheme, Techscheme, Byond cashback card, Extras Discounts, MyGymDiscounts and more. Find out more here www.blackhawknetworkextras.co.uk.
About Cyclescheme
Cyclescheme is an employee benefit that saves you 26-40% on a bike and accessories. You pay nothing upfront and the payments are taken tax efficiently from your salary by your employer. You choose a bike, hire it for an agreed length of time, then snap it up for a fraction of its original value. It’s like a year-round sale, with interest free credit available in over 2,000 retailers nationwide.
The Cycle To Work scheme has been extended to cover tens of UK towns.
