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The key role of technology in aligning reward with company values
This quote may be old, but the truth remains that leaders and managers failing to get people behind the values that matter most to an organisation’s success will always fall short of their ambitions.
Nearly every business leader today understands this principle. Most reward and HR leaders tell me that employee engagement which aligns to their organisation’s values is near the top of the list of things that they have to deliver for the board.
The engagement deficit
This throws up a bit of a puzzle. At a time in which we all seem to buy-in to the importance of values and culture, why is it that the UK faces an employee engagement deficit which is hampering the performance of our businesses and people?
According to a recent report from the Institute for Employment Studies, we are failing to effectively use one of the biggest levers that can influence employee engagement - the reward and benefits we offer as employers.
Solving this problem requires action across two broad areas: the kind of reward package we offer and how it reflects and reinforces the values and behaviours that matter. In each instance, technology has a key role to play.
A consistent employee experience
For employers of all sizes, the starting point for aligning reward to culture is to step back and take stock of whether reward, benefits and recognition are working together. They also need to ensure it’s sending the right message from an employee’s perspective – that they are valued by the organisation.
In all but the rarest of instances, there will be the opportunity to bring consistency to the different systems and schemes which have emerged over time, so they deliver a consistent high-quality experience for employees. The new generation of cloud-based benefits platforms allow organisations to ensure that brand, values and culture are reflected through the reward proposition.
Recognition without reward
As employers make these changes, one of the biggest opportunities to improve engagement is to introduce a strategy for employee recognition.
Social recognition platforms allow organisations to do this by identifying and celebrating the behaviours that contribute to company culture. They reinforce values without the need for reward and put the tools for employee engagement in the hands of leaders, managers and teams.
A fresher proposition
Today, delivering an employee benefits proposition which is tailored to the specific needs of different groups in the workforce is one of the biggest challenges facing employers. This is particularly the case as employees now bring their expectations of choice that they experience in the consumer world into work.
More sophisticated benefits technology means employers of all sizes can now offer this kind of mass personalisation by offering a wider range of benefits with low or no administration and implementation costs. It also means organisations are free to experiment with new kinds of benefits with lower risk.
Better communication
HR experts often say that the lack of employee awareness around available benefits fails to support values and culture. Therefore, the communication around explaining these is as key to the business culture as the benefits themselves.
By freeing up the resources tied up in managing benefits, reward and recognition, HR and reward teams can invest more time in addressing this lack of communication and grow awareness.
The author is Andy Philpott, sales and marketing director at Edenred UK.
This article is provided by Edenred UK.
In partnership with Edenred
We help you build stronger connections with your employees to drive higher engagement&performance.
