Communicating your rewards and benefits strategy to an international workforce
Rewards are used to recognise key achievements, covering a wide range of things from feedback and acknowledgement, to leisure offers, monetary compensation, health and wellbeing.
Communicating your reward and benefits in an effective manner can help your organisation by demonstrating your commitment and care to your employees, increasing staff retention and reinforcing your organisational values. It is important to make your employees feel appreciated as an estimated 70% of your budget is spent on staffing, and having good morale can have a positive effect on motivation and engagement.
How do I effectively communicate my reward?
Understanding what your employees value most is the first step to communicating your rewards and benefits – there is little point in promoting your rewards if they serve no advantage to your employees.
Knowing where your employees are in need of support is a big factor in helping their mental wellbeing. For example, most people enjoy saving money, and so monetary rewards and gift vouchers are used by many employers. Getting out of debt is a common factor that can impact your employees’ mental wellbeing, making them anxious, stressed and impacting their ability to work well.
Communicate your reward with new and current employees
If you’ve got a good set of rewards in place, it is not safe to assume that your current employees are aware of them. Additionally, talking your new starters through your benefits offering in their introductory meeting doesn’t mean they’re fully aware – after all there’s a lot to take in when you join a new organisation! Therefore, it is important that the information is easily accessible and promoted throughout the year.
It’s equally crucial to share the information with team leaders and managers too – everyone has to fully understand all the benefits and offers. You can design your own marketing material promoting the rewards. This will help you to promote your offering to both potential employees, and your existing workforce, helping staff at all levels to be fully aware of the benefits of working at your organisation.
Methods of communicating with your employees
1. Use a company intranet
An intranet is a private network contained within your business, and no-one in the outside world can see or access the information on it. It is used to securely share company information and computing resources among employees. Information passed along here can only be seen by employees – perfect for sharing information about your company rewards, and culture.
2. Have an active company newsletter
Company newsletters should include periodic updates, news, promotions and events; and can be circulated in either print or electronic form. You can send newsletters weekly, monthly or quarterly, depending on your goals and business activities. Try to make them interesting and encourage submissions from all staff, rather than having the same team/person produce it every time. Perhaps you could even circulate production amongst all your offices, so each team has one month where it’s all about them?!
3. Conduct webinars
A webinar is an online meeting or presentation held via the internet in real-time, allowing teams from across the country or even the globe to be present at the same event for a fraction of the cost of physically having them all be in the same place. It’s a great way to get your team to meet, interact and do business.
4. Hold multi-team meetings via Skype
Skype for business offers you the opportunity to hold multi-location video call conferences, and it’s a great way to hold a multi-location team or business meeting without the headache of getting everyone under one roof.
5. Utilise your team leaders effectively
Team leaders are your best tool in communicating with your employees. Each team leader will know their team the best, and will be able to predict how best to interact with each individual.
Look after your team, and the business will look after itself
Taking care of your team is your first priority as a business owner. A happy, productive and motivated team is vital for a successful business as they will spread that attitude and success out towards your customer base.
The author is Peter Blencowe, MD of Bluecrest Health.
This article is provided by Bluecrest Health.
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