It is important to look at employee rewards programs companies as recognizing and rewarding employees goes a long way in achieving the organizational goals.
Nevertheless, only less than one-third of all employees, according to a report, feel valued or appreciated at work.
It goes without saying that workers who feel like an important part of the organization are more likely to stay with the company longer.
Many businesses have employee recognition programs in place, from cash bonuses to awards, but not all of them are equally successful.
The best employee rewards programs frequently relate to the culture and values of the organization as they foster a connection between the employee and the business rather than simply rewarding an employee who has performed well.
A few businesses are also adopting and implementing modern employee recognition programs in an effort to retain their best employees.
Companies with best incentive programs
1) HP Inc
In response to the pandemic, HP Inc., which shrank after splitting from Hewlett Packard Enterprise (HPE), revised its employee recognition program to include online Weekend dance parties, cooking classes led by Michelin chefs, as well as tutoring and home learning support in addition to cash rewards.
Additionally, the business offers paid volunteer time, employee discounts, and paid vacations to encourage its engaged staff members to give back to the community. Moreover, all U.S. employees who report performing at least 10 hours of volunteer work each quarter are eligible for a $50 Good Card.
2) Cisco
The IT firm Cisco, which was ranked 18th on Forbes’ 2020 list of the World’s Best Employers, recently awarded its roughly 76,000 worldwide employees a day’s leave for mental well-being in May 2020 and another day off in August to de-stress.
A paid day off for birthdays and discount programs for all employees were also adopted by the corporation, along with an international peer-to-peer recognition and reward program called “Connected Recognition,” which is supported at 1% of payroll.
3) Unilever
In the Forbes 2021 list of America’s Best Employers, Unilever was recognized for its strategy for encouraging, honoring, and rewarding staff members for their dedication.
Its own worldwide digital reward program, uFlexReward (created in-house and launched in 2015), examines individual preferences to provide advantages that are unique and cater to the demands of the employee.
The business also holds an annual event called “The Unilever Heroes Awards” to honor and award employees who excel, take tremendous initiative, and make a difference.
4) Airbnb
Airbnb is a company practicing one of the modern employee recognition programs.
This well-known American small-scale startup that has gone global in its bed and breakfast rental business has a whole “Ground Control” staff to spearhead its unique corporate culture (they even appeared on Glassdoor’s top workplaces list in 2016).
Providing employees with a “workplace as an experience” is the company’s objective.
The company works to make its staff feel more like a single, cohesive “Airfam” by actively acknowledging their accomplishments, achievements, and paid volunteer time. It also offers healthy snacks and meals, and hosts themed parties, pop-up work anniversaries, and birthday celebrations.
So, it truly is one of the companies with modern employee recognition programs.
But how attractive is its bonus program? In a single year, according to statistics, Airbnb got 180,000 CVs for 900 available positions!
People who have visited the Airbnb office in SOMA, San Francisco, have gushed over how it feels more like a home than an office, complete with a kitchen, a library, and spaces for yoga and meditation (people can even paint on the walls!).
5) Southwest Airlines
It’s no surprise that the biggest low-cost airline in the world made Forbes’ 2021 list of America’s Best Employers ( for the sixth time! ) since their dedication to their staff is on par with that of their customers. Also it is one of the companies with best incentive programs.
The slogan of Southwest is “Company of People.”
Southwest Airlines’ SWAG (Southwest Airlines Gratitude) peer-to-peer recognition program encourages staff members to acknowledge and award one another with points.
These points can be exchanged for products, gift cards, merchandise, Fast Rewards points (traveling discounts), guest passes, etc.
For those trying to save money, a monthly prize drawing using SWAG points makes life more fascinating. The points have no expiration date, which is the finest part!
6) Norton Healthcare
Norton Healthcare, which is comfortably ranked No. 10 on the list of the healthiest 100 workplaces in America for 2021, upholds a culture of “service to others” with regard to its workforce.
Through their “N Recognition of You” project, they honor all aspects of their employees’ professional lives, from minor accomplishments to significant ones. In 2018, their people sent almost 123,633 recognitions.
In addition to this, they honor their workers’ achievements by hosting yearly Employee Service Awards feasts and dinner parties.
7) Typeform
This software company uses an unconventional but appreciative method of employee appreciation called “Spontaneous Applause,” in which the entire workplace applauds a worker for a job well done. So, it is also one of the companies with modern employee recognition programs.
Even when nobody is sure why someone is applauding, it helps the person being applauded feel good and appreciated for their work.
Additionally, Typeform uses merit-based prizes called “Typecoins” to exchange personalized presents for good performance. Furthermore, their staff members also gush about their reimbursements for remote offices.
Read: Reward and Recognition Software to Use in 2023
8) Asana
In a few years, Asana went from being a startup in Silicon Valley to a top company. Additionally, it takes one of the best approaches to rewarding employees.
It provides typical health benefits to its staff, such as vision and dental coverage, but it also rewards devoted workers with a weekly group yoga class held inside the company.
Twice a week, these yoga sessions are held. Additionally, workers are permitted to bring one other person with them.
Asana provides its staff with daily lunch and dinner meals made of organic ingredients in addition to yoga sessions. The meals could be changed, though, to accommodate a worker’s preferred diet.
This is not all: Asana offers its staff members $10,000 in funding to enable them to establish their own workspaces.
9) Zappos (An Amazon Subsidiary)
Zapponians receive ‘Zappos Dollars,’ which can be redeemed as part of the city’s renowned Zollar Program.
With three additional programs, the organization has advanced peer-to-peer rewards and recognition:
- The “Coworker Bonus Program,” where Zapponians can reward each other with redeemable $50 Zapponian dollars (Managers, supervisors, and team leads are not eligible to receive or issue them to direct reports).
- The “Master of WOW Parking,” where any Zapponian can honor a covered parking spot.
- The “Zappos Hero Award,” where Zapponians receive a hero cape and a $150 Zappos gift.
10) Siemens
Siemens updated its basic e-card giving program to the new ‘Champions’ and ‘You Answered’ programs, which allow both leaders and coworkers to reward and acknowledge exceptional performance in coworkers with thank you e-cards and redeemable points. Since May 2009, the business has given almost £3.8 million in employee awards.
According to recent reports, the corporation gave its 300,000 global employees a $1,000 one-time bonus (senior management was, however, omitted).
11) Mondelēz International
This multinational manufacturer of food, drinks, and confections (Cadbury, Dairy Milk, Oreo, Ritz) with a US basis launched the BOOST employee wellness program to support employees’ efforts to lead healthy lifestyles.
They introduced a global rewards program called “Great Rewards” that provides, among other things, a staff product shop, desk drops for all new goods, performance-based bonuses, and a spectacular annual Employee Benefits Awards that highlight groups and employees who make an impression.
12) ALKU
The “Corporate Cup Program,” a new employee award program from the specialized consulting business ALKU, honors people and teams for going above and above when working from home.
The company’s peer-to-peer recognition program, which awards branded T-shirts to staff members who exhibit excellent values and contributions (the t-shirts are printed with inspiring hashtags like #BeAPro, #PitchYourNiche, and #FollowMyLead), came next.
The business frequently holds celebrations and minor wins where staff members might win fantastic rewards. Another approach to recognize and reward top performers is with “The ALKU Stimulus Package,” and happy hours over video conferencing to add fun!
13) Bain and Company
The workforce-centric, collaborative culture of Bain and Company, a market leader in management consulting, has earned it the top spot on Glassdoor’s Best Places to Work 2021 list.
The company offers its employees flexible working schedules, compensated time off for a good job, and a sizable performance incentive. They are also encouraged to work “anywhere they feel most productive!”
Their rewards and recognition program, as well as their motto, reflect this mentality of positive reinforcement: “A Bainie never permits a fellow Bainie to fail.”
14) Burton
A huge name in snowboarding is Burton. Shaun White, a former Winter Olympian, serves as its spokesperson, which speaks highly of its reputation in the snowboarding community.
Deserving employees receive a 50 percent discount on all Burton items, along with a bonus for themselves and their immediate family members. Additionally, the staff members receive complimentary lessons and season passes.
Along with offering benefits to its staff, the office stays closed when it snows two feet or more. In the summer, one of its employee benefits enables staff to depart early on Fridays so they may better arrange their weekend activities.
15) Clif bar
Another reputable manufacturer of energy bars and chews is Clif bar. And the company’s employee incentives are just as excellent as its goods.
Atrium gardens, kayaks, recycled bikes, surfboards, paddles, a 40-foot rock wall, a fitness room with a yoga room, two massage rooms, a dance studio, and a facility for professional nutritionists/trainers make up this company’s workplace, which is nothing short of idyllic.
Two and a half hours a week of paid gym time is one of its employee benefits. Additionally, the staff members receive a $350 stipend to help with the expense of entering various competitions and events.
How does BRAVO help you practice the best employee rewards programs?
The platform for employee awards and recognition offered by BRAVO is incredibly affordable and useful. So, it can also be utilized to successfully give bonuses to the workforce.
Importantly, leveraging BRAVO to practice one of the best employee rewards programs is incredibly cost-effective: By requiring your employees to reach a certain threshold of points in order to receive a bonus, you may prevent spending money on an endeavor that doesn’t succeed.
To put it simply, Bravo helps you become one of the best employee rewards programs companies at a minimal expense, as employee bonuses are linked with employee performance!
Nonetheless, on either its platform or the one that is integrated with it, BRAVO also allows you to verbally express your appreciation for your staff in place of bonuses.
To learn more about using BRAVO to reward staff with bonuses, schedule a free demo.
