Employee incentives do not always have to involve money. Many employees just want to hear a “thank you” and “great job.”
- Employee recognition programs are a great way to let your employees know you appreciate the job they do.
- Reward programs help you keep the staff you have and encourage new talent to work for your company.
- Your rewards program is only as good as the way you implement it into the organization.
Studies have shown that employee rewards programs can be a good idea. (Companies with some kind of recognition program have 31% lower turnover, according to Bersin & Associates.) But the execution of an employee rewards program can be bad or good.