#employee loyalty programs

Your faithful employees work for you day in and day out. They are responsible for helping your business grow. They are people deserving of happiness and job satisfaction. These are just some of the reasons why you need to reward them. By doing so, you will raise their morale, improve their productivity, and prevent them from migrating their employment to your nearest competitors.

There are many ways to reward your employees. Let’s take a quick look at some of them.

Increase the size of the paycheck

The most obvious way to reward your employee is to increase their salary. Especially when you are enjoying the luxury of long-term profits, this is one way to bring happiness to your employees. Alternatively, supposing this isn't something you can fulfill for the long-term, consider the occasional cash bonus during those months that you can afford to pay something extra. If you’re using Freshbooks, it’s easy to see when you’ll have the extra cash flow to cover a bonus. You can also use it to project special payments you’d like to give as bonuses, such as a birthdays, anniversaries or other notable days your employees may celebrate.

Offer individual rewards

You may not be able to boost their salaries, but there are other incentives you can give that are tailored to individuals on your team. It may be a box of chocolates, a gift voucher for their favorite store, or a ticket to a sports game with the LA Clippers or to a music event. Not only are you giving them something as a reward, but you are also showing them that you actually know who they are, rather than giving them something generic.

Improve their break room

If the break room consists of a table, a couple of chairs, and a sink (with a sign up saying 'Do your own dishes'), then there isn't much incentive to spend time in there. But if you can do something to enhance their break room, perhaps with a ping-pong table to burn off nervous energy, extra appliances, such as a coffee machine, and an improved seating area that offers more comfort, then you are going to both make their breaks meaningful, and show them that you care for their wellbeing.

Spend social time with them

Take your employees out for a great meal. Go and see a movie together. Invite them to your home for a barbecue. Arrange a weekend away at a hotel and spa. Whatever you do, make it fun, and allow your employees the benefit of some fun outside of the office, as well as having extra time to gel and bond closer together.

Give them a day off

Who doesn't love a long weekend? If your employees have worked particularly hard in the week, then give them an extra day to spend doing whatever it is they do outside of work. And while you're at it, give yourself an extra day off too. After all, if you have put the work in during the week, you deserve a bit of additional downtime as well!

These are just some of the ways you can reward your faithful and dedicated employees. And if you don't have employees who work as hard for you as they should? Then reward those who do, and let these rewards be the incentive your slacker employees need to work that bit harder.

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Goals are individualistic. Every person has his own set of aims. And the passion to achieve them makes them a perfectionist in their efforts. Self-selection of goals makes such a difference in performance, so why don’t organisations allow everyone to choose their own?

Does that sound silly?

Without the direction and leadership of the higher authorities, corporations cannot afford to allow everyone in the organisation to set their own goals. In other words, rogue goals just won’t do. Right?

If you are thinking the story ends there, then no.

Choice Architecture

Choice architecture is a technique developed by Richard Thaler, PhD, from the University of Chicago which helps people make choices that are exactly what is desired by the organisation and are in-line with the sponsors’ direction. With this tool, the only choices that are offered are those that meet the sponsors’ preset requirements.

An example of choice architecture is the value meal menu at McDonald’s. Of all items available at McDonald’s restaurants, the most popular and the most profitable items are arranged on the value meal menu. They have made value meal simpler and easier to order from, by organising them under a single name. Thus, it is liked by the customers and ordered more frequently than a la carte items.

When this method is applied while setting goals, employees see only a few of them. Three is a great number of choices – options that are fixed by management. As the management has decided the level of goals ahead of time, any goal chosen by the employee will be acceptable to the organisation. Thus the organisation gets to keep the employees happy as well as they have their objectives attained.

If we think about it, we come across choice architecture every day. Some apps require us to opt in, others to opt out; the way the food is organised in the supermarket, the order and level that food items are displayed on grocery shelves; the order and options of available food items in a cafeteria, consequently, we are subjected to choice architecture every day. While it may sound artificial, we experience choice architecture in many aspects of our lives.

Give them a chance

When the goals were offered in this framework of choice architecture, 98% of all employees were seen selecting goals and 58% of them performed better than their expected performance.

Ultimately, people who select their own goals perform and accomplish 37% better than those who can earn the same rewards for the same effort but with no requirement to commit to their goal.

So, all Managers out there– Get thinking and create relevant goals that are attainable by your employees for them to choose from. Always remember, by utilising this technique, you will benefit from giving them a choice. To know more about the

employee engagement

strategies,

NFA BIWorldwide Goalquest

Employee Service Anniversary Program

Buzz Horizontal Final

BI WORLDWIDE Values

Hiring of an employee is not an easy task because it’s starting point to create a strong work force of the people who can work hard for the benefit of the organization as well as for self benefit. if you are HR manager or owner of the organization, so high employee turnover can cost you in term of time and productivity, and while hiring the employees you should keep in mind that hire the best employee for the long term growth of the organization. To keep the employee retention rate low in the organization you can also use the employee loyalty programs because if your organization will provide the some additional perks and benefits to the employees, so they will not leave your organization easily. Now day’s most of the big as well as small businesses overlook this critical component as the part of HRD program. According to recent survey, more than 60 per cent of the responding companies accepted that they are using the direct as well as indirect employee loyalty programs to keep employee retention rate low as much as possible.

According to some of the recruiters retention strategy is mostly based on the compensation issues like; wage, salary levels, perks, and incentives, but when it comes to practical life so retention drivers go much deeper into the nature, psyche and attitudes of the employees. However; if you are planning to implement the perfect retention strategy, so you should focus on the key elements such as; competitive advantage, performance, communication, and loyalty. Its recommended to use the customer loyalty programs to retain the best talent of the organization and attract the best talent of the other organization.