Employee reward and recognition programs are aimed at fostering an engaged workforce.
Employee reward and recognition programs are aimed at fostering an engaged workforce. This is important because motivated, invested employees tend to be more productive and happier on the job. Recent research has revealed that over a quarter of workers consider rewards the top factor for engagement, but fewer companies actually offer these incentives.
Referring to a Randstad report, Baseline Magazine reported that 28 percent of employees highly value merit-based benefits and rewards, but only 23 percent of companies offer them. In addition to this kind of incentive, workers said they wanted a comfortable, energizing company environment.
"There is clearly a disconnect in what employees want and what employers are actually providing," said Jim Link, chief HR officer at Randstad North America, according to Baseline Magazine. "Employee engagement is not just a nice-to-have factor that organizations should consider. It can have a tangible impact on a company's bottom line."
Gallup's 2010-2012 State of the American Workplace report revealed that only 30 percent of American employees were engaged. To improve this number and reap the benefits of a more productive, inspired team, managers can offer workers the types of rewards and benefits they value. For example, merit-based reward programs recognize excellence and motivate workers to achieve more.