Employee recognition incentive programs have become one of the most important ingredients in employee satisfaction. Companies are finding out in today’s market that larger paychecks do not build employee loyalty as they once did. The alarming fact is that 73% of all employees say they aren’t recognized often enough by their managers*.
Recognizing and rewarding your employees for their accomplishments drives their performance level and builds employee loyalty. Utilizing effective employee recognition and rewards programs reduce training and down time cost that are attributed to turnover. Here are some comments by other companies that have benefited from using employee recognition programs:
"We cut workers comp from $3.2 million to $1.3 million this year." ~Sonia Pishehvar, CHSA*
"We improved quality with bright idea suggestions and put over $8 million on our bottom line in 2 years." –Siemens*
"We reduced unscheduled absenteeism by over 80%." ~Kenny Sawyer, Dorsey Trailers*
"Just nine months after we started the program, we documented $1.3million in savings, and $2.2 million by year two." - Cathy Atkins, WVNS*
"We reduced our injuries from 295 to 14 in just one year, without injury hiding." Marie Huber, Heartland Foods*
Our experience shows that one of the best ways to recognize and reward employees is by giving them a wide verity of choice for their award, as well as more buying power. Our online incentive program RewardTrax® provides both with more than 19 million products to chose from, and with 20-25% more buying power compared to traditional warehouse programs. Here are a few benefits RewardTrax® provides:
- Participants get access to the newest, most contemporary selections—electronics, travel packages, designer sportswear, outdoor gear, and more.
- A customized domain name and an easy–to-use Web interface makes it easy to adapt to your corporate branding look and feel.
- Web-based management enables easy admin with one click reconciliations—a service level that reflects well on you.
- Program administrators gain maximum power over program management at all stages of the process, including real-time reporting of points issued, points redeemed and points pending redemption.
- Blast e-mail capabilities make ongoing participant communication quick and simple.
