Lack of employee engagement is killing your business’s profitability. It sounds harsh, but it’s the truth. Don’t believe it? Take a look at the statistics. Gallup’s 2013 report on the state of the American workforce showed that companies with highly engaged employees had 22% higher profitability, 28% less theft, 48% fewer safety incidents, and 10% higher ratings from their customers. Those averages were even higher when looking at just Millennial workers. Additionally, when employees are engaged, they’re three times less likely to leave your company. This is another area where engagement will save money for your company. On average, it costs over $4000 to hire a new employee. Recognition plays a huge part in employee engagement. 74% of employees who receive daily recognition reported being very engaged in their jobs. The more often an employee receives recognition, the higher the level of engagement reported. The question is, what is the best way to engage your employees? One of the best, easiest, and most cost-effective ways you can engage your workforce is through incentive programs. A 2016 study by DCRStrategies reported that 79% of companies that have used employee incentive programs say that their incentive program resulted in achieving their established […]
Tag: employee recognition
Top Performing Gift Card Incentives
Gift card incentives can attract and engage customers, partners, and employees. They increase brand awareness, motivate sales teams, and so much more. People view gift card incentives like cash. They’re irresistible and can be used by anyone. Gift cards help build trust with your incentive program participants through brand recognition. Some of the top gift card brands incentive program participants love to claim are: Starbucks, Walmart, Sephora, Target, Amazon, and Chipotle. You can use either virtual or physical gift cards in your incentive program. Virtual gift cards have the added benefit of immediate redemption. We are living in a world that values instant gratification. Gift cards can be used for a variety of different types of incentive programs such as channel sales, health and wellness programs, sweepstakes, employee recognition, market research, and points-based programs. If implemented correctly, gift card incentives can help drive up your incentive program ROI. All Digital Rewards can help you select the right gift card and e-gift card products to reach your organization’s incentive objectives best. This will help encourage the behavior of your participants to achieve the results you want at a cost you can afford. All Digital Rewards offers gift cards from over 300+ […]
7 Workplace Wellness Trends for 2017
Corporate health and wellness programs are becoming increasingly popular in today’s workforce due to the realization of how beneficial these programs really are. Employees are encouraged to become more mindful about their health and gain so much by harnessing this healthy lifestyle. Companies reap the benefits from these workplace wellness programs by lowered healthcare costs, boosted productivity, and much more! Numerous companies and corporations are putting a plan in place, a plan to create a healthy and encouraging work environment, a plan to open on-site fitness centers, promote meditation breaks, present healthier food options. These companies and corporations are really seeing the success of their health and wellness programs. At ADR we are always on the hunt for great health and wellness trends to keep employees, happy, healthy, and motivated. We have compiled a list of our top 7 workplace wellness trends below! Mind over Matter. These days more and more workplace wellness programs are focusing on mental health vs. physical health. Becoming more mindful of the mental state is crucial because it is what drives us physically, the mind powers the body! Meditation breaks, silent sits, or even beginning each meeting with 5 minutes of meditation can offer tremendous […]
15 Great Health and Wellness Incentive Program Ideas
To craft a successful health and wellness program, a participating company must establish a healthy culture and continue to motivate their participants. The overall goal of a health and wellness program is to embrace and cultivate a healthy lifestyle, and to do so the participating company must create a healthy culture. Below we have listed 15 incentive program ideas that help promote a healthy environment but be mindful that implementing these helpful tips doesn’t stop there. A company must have a well thought out strategy in order to keep your employees motivated in a health and wellness program. Flex Benefits Credits Half a Year Membership to Weight Watchers or a Local Fitness Studio Per Year Following Active Participation Drawings for iPads, Travel, Gift Cards, Smart TVs, FitBits, Fitness Equipment, Merchandise Recognition and Celebratory Events Up to x Amount of Dollars Per Couple Into an Additional HRA Fund Upon Completion, a $100 Reward For an Accomplished HRA, Health Screening, and Health Report With Action Plan Up to $1,000 towards an HRA Drawing For a Full Day of PTO Upon Completion of the Health Assessment Health Cash Points For Employees and Their Significant Other If They Have Continually Engaged In The Wellness […]
Which Incentives Work Best When Setting Up a Health And Wellness Program: Carrots or Sticks?
A successful wellness program is more about how you frame your program whether you’re using disincentives or incentives. You win the toss either way with improved health and wellness, along with reduced health care costs for all because of overall improved employee wellness. What do you need to consider when using carrots and sticks as incentives in your program? The industry culture of an organization may be a contributing factor worth considering. Employees who work in environments where conformity is not valued but creativity is, will mostly likely respond better to carrots and sticks framed as being “good for them” (vs. “do this or else”). Employees who work in bottom-line-focused or highly regulated industries, such as finance, or retail might be used to firm management directives. So, it might be in your organization’s best interest to test a mix of carrots and sticks to see what will work best with your people and change up your message and the delivery. Distribution and timing of the incentives and disincentives also are important factors. It’s human nature to desire immediate benefits and delayed costs. (Hello, zero-money-down deals!) Sometimes, you may want to consider disguise your carrots as sticks to have the […]
Why eGift Cards are Making An Impact On Your Business
Incentive programs efficiently get new customers in the door and reach out to retain your loyal customers. There are roughly 2.5 billion loyalty memberships in the U.S. (Colloquy). Last year U.S. companies spent $76.9 billion on incentives and promotions, while $22.7 billion of that was spent solely on incentive and loyalty gift cards alone. It is safe to say that incentives work. However, when is the right time to implement an incentive rewards program into your marketing strategy for consumer promotions? Read on for the top incentive reward promotions. Incentives range from cards to rebates to giving physical gifts or even handing out cash. Incentives drive the customer to make a purchase, come in the store, or even share on social networking sites. Incentives drive company exposure, and that will drive your sales up. When thinking of incentives, virtual is typically better if your customers want immediate rewards and/or online fulfillment. Virtual rewards cost less and save time and confusion for the customer. Cash management is just that. Managing cash for the customer. When having an e-gift card, it is typically not reloadable. On the other hand, prepaid debit cards offer multiple options for putting more money on the card, thus, having […]
