Drawing data from 4,087 companies worldwide, the report highlights a shift from traditional rewards to strategic approaches promoting employee appreciation, celebration, well-being, and inclusivity. It offers best practices by leveraging data from Empuls and insights from external research and industry experts. This comprehensive approach encourages organizations to rethink their recognition strategies, driving sustained behavioral change and enhancing employee engagement.
The report covers key aspects of R&R programs, such as designing effective recognition frameworks, balancing monetary and non-monetary rewards, and celebrating an employee's life at work and beyond. It also explores diverse reward options and redemption methods, providing HR professionals with data-driven insights to update their R&R programs to meet the unique preferences of their workforce.
Key Takeaways:
- Future of Rewards: Innovative rewards are essential to meet the demands of younger generations as Baby Boomers and Gen X transition out of the workplace.
- Comprehensive Benefits Strategy: Rewards are evolving into holistic benefits programs integrating talent development and culture building.
- Holistic Recognition Experience: A diverse mix of rewards enhances the recognition experience, as 40% of employees are inclined to quit if not appropriately recognized.
Download the full report here and get insights on maximizing the potential of your R&R programs to drive positive outcomes.
About Giift:
Giift offers end-to-end SaaS solutions for managing engagement, loyalty, incentives, rewards, and marketplaces. Our suite of SaaS solutions - LBMS, Marketplace, Xoxoday, Empuls, and Compass - helps businesses drive growth with their customers, employees, sales teams, channel partners, and merchants. Headquartered in Singapore, Giift's 500-member team is spread across 15 global offices and works with over 3000 clients and 150 million users. For more details, visit www.giift.com.