At Enjoy Benefits, we know a thing or two about employee rewards. We have nearly 20 years of experience working with clients to make their employees feel valued and rewarded.
We have thousands of clients around the UK, most of them SMEs, and we are proud of our relationships with clients and our high retention rate.
However, while we make it simple to acquire services from us to reward and recognise staff, there is more to employee benefits than that.
It’s important to understand what employees want from their organisations and from their staff benefits. While we’d argue that all staff benefits are good, there are nonetheless some dos and don’ts for engaging with employee benefits effectively.
Trust us when we say that your staff will notice the difference. Here’s are some quick tips on what works and what doesn’t when it comes to offering employee benefits.
If you’d like to find out more about benefits for your business, you can contact us on 0800 088 7315 or via our Contact Form.
Most popular employee rewards
It’s no surprise that monetary incentives are the most popular ways to reward staff for their performance and let them share in the company’s success.
Cash bonuses, profit-sharing, stock options, and salary raises are all common forms of monetary rewards that are prized by employees.
So, it stands to reason that employee benefits that allow staff to save money on services they would use or purchase anyway are also very popular and appreciated.
These include things like childcare vouchers and workplace nursery benefits, for reductions in the cost of childcare. It extends to things like private medical insurance, car leasing benefits and discounts on holidays, days out and shopping.
Find out more: Childcare Vouchers, Workplace Nursery Benefit, Car Lease Benefit, Discounts.
For employers, it’s worth being aware of the limits of rewards to employees and directors as dictated by HMRC. You can read more on Tax on Trivial Benefits.
Popular non-monetary incentives
If your organisation doesn’t offer extra monetary rewards or savings, then it’s worth knowing that these non-monetary incentives come next in popularity behind things like cash bonuses and profit sharing:
- Extra vacation days
- Flexible working hours
- Company-paid training programs
- Opportunities for career advancement.
Rewards that show you care
Recognition is another very popular way to make staff feel valued and rewarded. Recognising employees’ achievements and hard work is an important way to motivate and engage them.
Recognition can come in the form of public acknowledgements, certificates, awards, or personalised notes of appreciation. Gifts and perks like reward vouchers, gym memberships, and days out are other popular tokens of appreciation.
Find out more: Rewards & Recognition Vouchers, Gym Memberships.
How to avoid missing the mark
The least popular employee rewards tend to be those that do not align with employees’ interests or values. Or they are those that may not have a meaningful impact on their job satisfaction or motivation.
If an employee feels that their recognition or appreciation is insincere or generic, it may have little impact on their motivation or job satisfaction. Employees want to feel that their contributions are truly valued and recognised in a meaningful way.
Here are some ways of rewarding employees that tend to go down less well:
Gift cards with low value or limited use
While gift cards can be a popular reward, if they have low value or can only be used at a limited number of retailers, they may not be as appreciated by employees.
Company merchandise
While some employees may appreciate company-branded merchandise, others may not see it as a meaningful reward for their hard work if that’s the only reward offered.
One-time rewards
Rewards that are only given once, such as a single cash bonus or gift, may not have a lasting impact on employee motivation or job satisfaction.
Public recognition without consent
While public recognition can be a powerful motivator, some employees may not be comfortable with being publicly acknowledged for their achievements without their consent. Companies should always ask for employees’ permission before publicly recognizing them.
Ultimately, the effectiveness of an employee reward will depend on the individual preferences and needs of employees, as well as the culture and values of the company.
About us
At Enjoy Benefits, we have great experience in helping companies of all sizes introduce benefits that are suitable for their workplace.
Benefits are easy to set up and ongoing administration is then run through a hub, allowing employees to manage their own benefits while the employer can see which benefits are proving popular and what level of take-up each has had.
If you would like an obligation-free chat to discuss which benefits might work for your business and your employees, please contact us by calling 0800 088 7315 or using our Contact Form.
Ready to start working with us?