Technology has revolutionized the way companies operate and this includes how they treat employee rewards. Technology has made it possible for employees to compare employers, the rewards they offer and the working environment. Therefore, only companies willing to show employee appreciation by offering employee rewards will survive. Continue reading to find out how technology is changing the way we treat employee rewards and what you can do about it:
1. Offering employee rewards
To start with, the process of offering employee rewards has been dramatically changed by technology. Nowadays, employees can receive reward points after accomplishing goals (either individually or as a part of a team), accumulate them and then exchange them for rewards. They can choose from a wide range of rewards, gift cards, etc. They are also able to track how many points they have received, by whom and why.
2. Basing rewards on customer feedback
One of the best changes that technology has brought about is the opportunity to connect rewards to customer feedback. The reason why many employees feel demotivated and disengaged at work is because they fail to see the impact they make in the company. In addition, they feel like their daily efforts are not recognized and appreciated. However, when a reward is being based on customer feedback, then your staff members can directly see how their actions have positively affected the end customer. By giving them a reward for it, you as an employer can also outline and encourage positive behaviour.
Gamification refers to the application of game principles in non-game contexts. For example, using dashboards, points, badges, progress bars, and team competitions are a great way to encourage people to use your rewards system. Gamification can help employees achieve their goals faster and give them a sense of direction and progress.
4. Wide range of rewards
Businesses are increasingly harnessing the power of technology to make the process of employee benefits education and delivery more efficient. To do so, the rewards offered by a company need to be something the employees actually want. To do so, employees need to perform a survey to find out what rewards would actually be of interest to their staff. Furthermore, with the help of technology now those rewards can be delivered in a timely matter. This immediate connection between achieving a goal and receiving a reward for it leads to positive reinforcement of desired behaviour.
5. Interpretation of data
Finally, employee rewards tools have completely revolutionized the way we can interpret the data collected. You can now track how your employees have developed over time, what rewards they have received, how satisfied they are with their job and see what suggestions for improvements they might have. In addition, this easy-to-do interpretation of data makes it less complicated and time-consuming to make decisions and justify potential changes.
In conclusion, technology has changed the way we treat employee rewards significantly in the past few years. It is safe to say that we can anticipate even more changes in the near future. This is why companies who keep ahead of all these changes and adapt easily to them have a better chance of success.