12 Ways to Optimize Your Employee Benefits Program

Topics: Incentive, Loyalty program, Employee benefit Pages: 9 (2428 words) Published: August 9, 2013
12 Ways to Optimize Your Employee Benefits Program:
Low-cost employee incentives, recognition programs and employee rewards Sign up for Business Management Daily's e-letter for Leaders & Managers now and receive aFREE copy of 12 Ways to Optimize Your Employee Benefits Program...

Sign up for Business Management Daily's Leaders & Managers e-letter now and receive aFREE copy of 12 Ways to Optimize Your Employee Benefits Program with advice on: * Low-cost employee incentives

* Meaningful employee recognition programs
* Inspiring employee rewards
* And much more...
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If you’ve had to cut pay and staff and now expect more from those who remained, it’s vital to revamp your employee recognition and rewards program. Employers can double their rewards and recognition efforts in innovative, cost-efficient ways. Examples: employee-of-the-month awards, employee incentive pay, employee appreciation luncheons, more time off, shopping sprees, wellness incentive contests, plus employee rewards customized to motivate Millennials, Gen Xers, Baby Boomers and the Matures. Now is the time to get clever with your employee recognition programs. This special report, 12 Ways to Optimize Your Employee Benefits Program: Low-cost employee incentives, recognition programs and rewards, will show you how. Discover low-cost, inspiring ways—many of them suggested by Business Management Daily's HR Specialist Compensation & Benefits readers—that your organization can motivate and express gratitude to your employees year-round. Whet your palate on a sampling of tips from the FREE special report below... Employee Benefits Program: Tip #1

8 rules for employee recognition and employee rewards
Surveys of U.S. workers consistently show that employees want more than a paycheck from their jobs—they want to feel safe, secure and appreciated at work. Good employee rewards and recognition programs provide employees with: * A fair return for their efforts

* Motivation to maintain and improve their performance
* Clarification of what behaviors and outcomes the organization values. Here are eight guidelines for employee recognition and rewards programs that managers can use in their departments, according to an Adecco management report: 1. Specify employee rewards criteria.

2. Reward everyone who meets the criteria.
3. Individualize employee rewards.
4. Say “thank you” frequently.
5. Nurture self-esteem.
6. Foster intrinsic rewards.
7. Reward the whole team.
8. Remember: You get what you reward.
The bottom line: Remember that employee incentives come in many forms, not just cash. For top performers, increased responsibility and lessened supervision can be rewards in themselves, as can flexible schedules, additional time off, first pick of desirable assignments, and so on. The point is that employees must indeed feel that you are rewarding them for both working hard and getting results.

Sign up for Business Management Daily's Leaders & Managers e-letter now and receive aFREE copy of 12 Ways to Optimize Your Employee Benefits Program with advice on: * Low-cost employee incentives

* Meaningful employee recognition programs
* Inspiring employee rewards
* And much more...
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Employee Benefits Program: Tip #2
Employee recognition: Have you hugged your employees today?
You might think that employee recognition is about the rewards you give workers for long years of service or for retiring after a notable career. It’s really not. Employee recognition is about engagement. And employee engagement starts with employer engagement. How engaged are you with your employees? Do you know their names? Their goals? What makes them tick? Recognition doesn’t have to be about gold...
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