5 points for organisations to consider when implementing an effective reward strategy
We talk in terms of teams, workforces and staff – collective terms that require a singular approach, rather than focusing on individuals. What do your people need to be happy, motivated and engaged, during their time at work with you? Well, they all need different things.
For example, people in their early 30s saving money for a deposit on a house have different concerns to new graduates going out at the weekend, or older employees approaching retirement.
It doesn’t stop at demographics either. Personality differences have a much bigger impact in the workplace than many employers expect.
It’s simply not the case that everyone can work in the same way – some struggle to work in groups while others can’t focus on their own, some may dislike being monitored while others need reassurance at every step of a project.
So, taking all these factors into account, when it comes to rewarding employees and implementing an effective reward strategy, what should organisations be considering?
5 points organisations should consider when implementing an effective reward strategy
1. Keep the focus on the individual and involve them in a meaningful way
Approaching everyone’s needs in a different way is a step in the right direction, but if you’re making the assumption on what that approach should be, it’s one step forward and two steps back. Employees need to have their say in the workplace – and changes should make a demonstrable impact.
2. Things will need to change on a cultural level
Personalising your approach to employee rewards will require a lot of change to the way you do things, and it’s easy to get so bogged down in the process of how this will happen. Instead focus on creating a culture where individuality is important, and the processes will follow.
3. Allow time to change
Don’t expect things to change overnight – and once things have changed, don’t expect everyone to be on board with them straight away. Take things slowly, let things evolve naturally, and make sure that anything that already works well is kept intact. This is a long-term evolution in your staff culture, not a quick fix.
4. Deciding on personalised incentives
A better understanding of a person’s personality and treating staff as individuals leads to a better understanding of the principles of what motivates and engages them.
For example, employees with more practical personality types will be better motivated when they understand the practical reasons and outcomes behind what they’re doing. These people may prefer to have targets to hit and will want to understand where their personal targets fit in in the context of the wider organisation.
Others, meanwhile, are more concerned with the impacts of their actions on others. These people may be less interested in sales figures and targets – which they may see as arbitrary – and will be better motivated by the ways in which their work will enrich the customer’s experience.
This leads into the reasons behind rewarding people – for some, receiving incentives for hitting their targets will be incredibly motivating. For others, rewards for good customer service will be valued far higher.
5. Choosing personal rewards
Finally, giving rewards for the right reasons is one thing – but ensuring your rewards take the right form is another.
For example, if you have a great deal of employees who identify with more introverted personality types, rewards that are overtly social in nature may not go down quite so well.
People struggling financially will appreciate rewards that will help them save or enjoy an experience without added costs but may feel anxious about the idea of travel-related rewards – which could involve spending money on new clothes, food, and so on – as they may not be able to afford to go, even if the flights and accommodation are paid for.
Ensuring that rewards packages are well-rounded enough to provide support for a range of needs is an important part of helping staff to feel as though they are being considered as individuals.
This article is provided by Sodexo.
In partnership with Pluxee UK
Pluxee UK, is a leading employee benefits and engagement partner that opens up a world of opportunities to help people enjoy more of what really matters in their lives.
