7 Best Rewards Programs to Use in Your Business

 

Customers are the lifeblood of any business. Without customers, there is no life for your company. However, when it comes to rewards programs in the workplace, many businesses make the wrong choice. They either over promise, under deliver or combine reward and recognition schemes that leave a lot to be desired. If you are reading this, you are probably one of the many businesses looking to boost your employee engagement levels and increase loyalty among staff. This is a good thing because employee loyalty is valued highly these days. But what if you don’t know where to begin? You may have different opinions on how best to pursue these goals but very few businesses offer an in-depth guide on how to establish a successful rewards program in your business. Fortunately, we’ve done the hard work for you. We surveyed hundreds of businesses of all sizes and shapes and sizes to get our ideas about rewards right. These best practices can be used by anyone who wants to improve their company’s appeal with their staff and drive loyalty among employees.

What to do first?

Set a goal. This is the bedrock of any good program. Before you begin handing out free stuff to your employees, you must have an idea of what you want them to do. If you are dealing with a department that makes mostly customer service-related rewards, you may want to start there. This can help you to determine what types of rewards are most in line with your company culture. In any case, setting a goal helps you ensure that there is a proper balance between form and function. Know more about Chandler Small business rewards program here.

Set a goal

Beyond setting a goal, you will also need to provide some guidance for your employees on how to achieve their goals. This can be as simple as providing a checklist or setting up an app to track goals and points earned. The idea is to make it as easy as possible for your employees to check off items from a list and earn points for doing so. You can also create a rewards program that incentives more than just performance. You can also create a program that rewards employees for bringing in new customers and helping them get up to speed on your brand. Depending on how you choose to use your points, you can also create programs that allow employees to share their experiences through social media. This can be a great way to let your employees showcase their talent and show how much they care about their jobs.

Create an employee survey

If you are not yet a program owner, survey tools already come with built-in functionality for creating surveys. You can create one-page surveys with pre-populated questions or break the process down into multiple steps that allow you to collect information one question at a time. This allows you to focus on the important things and lets you collect more information at each stage of the survey process. You can even let your employees help out with the survey process by creating the questions and populating the survey with their input. This not only builds trust but also points employees in the right direction.

Implement in-house reward redemption

Rewards programs often have a lot of rules and regulations. You may have to get a certain number of points per dollar spent or require employees to use their points after a certain period of time. However, there is a great chance that you are violating one of these rules. The best way to avoid this is to implement in-house reward redemption. Rewards can be exchanged for products or services that are related to the point-value of the reward. For instance, an employee who completes a task that gives her five points can exchange them for an ice cream. Another who returns five completed surveys can exchange their points for a donut. Rewards programs that require employees to take points or tokens in exchange for rewards are often unmarketable. This means that you are stuck with a single rewards program and are not able to offer incentives that cater to different employee needs or lifestyles.

Create an online platform

Online platforms are great for managing a large number of rewards programs. Many of them have been designed with the employee in mind. There are lots of options these days and it is easy to find a good fit. For instance, you can try out FandangoNow. This is a popular internet-based loyalty program with more than 50 million members. Or you can look into GlobalRev, which allows you to manage rewards across 15 countries. These programs allow you to create an attractive, easy-to-use interface that feels like a social network. You can also integrate rewards into your existing HR software. This way, employees can redeem their points at any time and location with no extra setup required.

Bottom line

Rewards programs are a great way to increase employee engagement and loyalty. They can be a powerful way to drive revenue, create a more engaging culture, and get your employees more involved with your company. However, deciding on the best rewards programs and implementing them in your business can be challenging. The best reward programs are those that come with clear and easy-to-follow instructions. You should also keep in mind that the longer you use a rewards program, the more valuable it will become to your employees.