Employee rewards apps are an excellent method to show your staff how much you value their efforts.
They assist you in keeping track of your staff and all of your company’s activities. Such tools increase employee productivity and optimize the whole management process.
Nowadays, for companies keeping their employees satisfied is of prime importance.
One of the critical factors for employees’ satisfaction is the employee’s recognition. It lifts the morale of the employees.
Companies are now focusing more on employee reward systems and seeking ways to incentivize them according to the efforts they are putting into the company.
They have been found in studies to be beneficial. (According to Bersin & Associates, companies with some form of recognition program had 31% lower turnover.)
However, the implementation of employee rewards apps may be either helpful or harmful.
So, to better understand, let’s dive deep to know how it works.
What is an employee rewards program?
Well, in literal terms, a standardized method of rewarding your staff for their performance is an employee rewards program.
If designed and implemented correctly, a rewards program will boost productivity and motivate your workforce.
Moreover, if you want to create an employee rewards program for your team. Here are some quick steps that could be followed:
- The first step is determining what you want to achieve with your rewards program.
- You should comprehend the problem you are attempting to tackle by developing this system and decide how much money you are willing to invest. It may surprise you to find that meaningful incentives do not have to be pricey.
- You might want to think about using employee rewards apps to keep track of your awards.
- Also, you would want to discover leaders who can assist you in promoting and implementing this initiative. It requires persistence and leadership that is dedicated to seeing it through.
What Rewards Can Be Given to Employees?
Let’s take a look at some of the top rewards and recognition ideas that we are confident will increase employee engagement.
- Assorted Cash Bonuses.
- Written Appreciation/ Gratitude
- Verbal Appreciation/ Gratitude
- Declaring Employee Of The Month
- Celebrating Birthdays
- Free Health & Care Sessions
- Celebrating Work Anniversaries
- Providing Company Vehicles
- Celebrating Calendar Events Like Christmas, etc.
This list could get as long as you can imagine. The only key takeaway here is that you should identify those means that motivate your staff the most and then make them available.
Do Employee Rewards Programs Work?
You’re pleased with your workforce. It’s been a joy to work with such a devoted, talented, and diligent group.
Every member of your team has been meticulously chosen, onboarded, and trained to perfection to assist you in delivering operational excellence.
Even the most skilled crew, though, may stumble. Even the most loyal and driven employees might lose their loyalty.
This is why employee rewards programs are such a crucial tool for getting the best out of your employees.
They are affordable to adopt and have little impact on your business. Nonetheless, they may provide a slew of advantages to firms and their employees, increasing productivity and profitability while minimizing costly employee turnover.
3 Employee Rewards Apps That You Can Buy
You can use several apps for the employee’s recognition and reward system. What do these apps actually do?
These apps integrate with the employee’s feedback and reward system and help the company recognize the employees.
This helps the HR department consider it while evaluating the employees, which will create a significant difference.
Here is the list of the popular employee reward and feedback applications you can use to appreciate them.
BRAVO is one of the best employee rewards apps that you can find online today. It’s like your company’s own social media.
BRAVO provides an open platform where your employees can recognize each other for their efforts in front of all team members.
The standard of recognition on BRAVO is “reward points.” These reward points can be used to claim rewards from hundreds of reward options via BRAVO’s reward store.
BRAVO’s automatic capacity to reward staff on personal or professional occasions is noteworthy.
It also automatically compensates staff at significant calendar events. As a result, its application is not limited to thanking workers for their efforts or facilitating effective employee referrals.
More so, BRAVO now has an international rewards option to assist you in appreciating your foreign employees and individuals from other cultures. This worldwide rewards function is offered in 25 countries, including Bulgaria, India, and the United Arab Emirates.
Nectar is a 360-degree employee appreciation system. It is a reward and recognition platform that businesses may leverage to execute peer recognition.
Peer acknowledgment entails an exchange of feedback among employees, independent of organizational hierarchy.
Thus, Nectar assists you in developing a culture of connectivity regardless of your organizational structure (centralized, decentralized, or dispersed).
Bonusly also provides features similar to BRAVO. On this platform, monthly allowances are given to the employees based on the tasks they perform.
It is not actively touted as a peer or 360-degree recognition software. However, it may also be used for peer recognition.
Upon the successful completion of their tasks, they are given specific points. These points are later on converted into dollars which the employees can enjoy.
Employee rewards apps are second to none in thanking and rewarding employees for their accomplishments.
Each piece of the software discussed in this article can produce the required effects. However, BRAVO includes built-in capabilities and a functioning model that may assist any firm with any work culture in better recognizing its personnel.
Using BRAVO as employee recognition software helps make employee recognition more effective and productive. As a result, an organization’s employee appreciation program bears fruit.
To discover more about the numerous advantages of BRAVO in employee appreciation, book a demo with us here.