As the landscape of employee Rewards continues to change, employers search for ways to create innovate existing Rewards and Recognition efforts to keep employees engaged and satisfied. Employees who feel valued are more productive and engaged with their work and more invested in the longevity of the business. The company’s goals and values become shared goals and values. Ultimately, their employers’ success becomes their success. The best way to earn this kind of loyalty from your team is with an employee Rewards and Recognition Program.
Showing appreciation for your most important brand ambassadors – your workforce – is a strategy worth embracing. Here are some compelling reasons why implementing a quality employee Rewards and Recognition Program will produce an amazing return on the investment.
Your employees are brand representatives. As such, they have a unique ability to impact your reputation for better or worse. Denoting their value through a Rewards and Recognition Program is a worthwhile endeavour. EonX provides a customisable platform called Rec Room that helps improve employee engagement, recognition and communication, making it easy for employers to create a positive work atmosphere that boosts employee satisfaction and retention.
Rec Room’s suite of features provides businesses with the ability to easily recognise and Reward team members for both individual and group accomplishments. Our platform, through its features, makes it easy to impact the day-to-day lives of employees in a meaningful way.
EonX’s Rewards Marketplace feature helps employers add value to any Rewards and Recognition Program. The Marketplace allows employers to provide discounts and incentives from Australia’s leading brands. Employers can choose from eGift Cards, Gift Cards, tangible products, Cashback Offers, services, and experiences for their Program.
Our platform empowers employees with the freedom to choose from an extensive array of offers and discounts that can save them thousands annually. It makes their day-to-day lives easier and demonstrates that their workplace wants to support them. With Christmas time coming, the Rewards Marketplace provides employers with an excellent opportunity to allocate Gift Cards and incentives inspired by the holidays.
Designated administrators can inject funds into employees’ eWallets on the Rec Room platform on an ad hoc basis as part of a monetary reward, bonus, or benefit. Employees can then redeem the funds and use them within the organisations customised Perks catalogue. This option is ideal for individual recognition and Rewards and can be used to celebrate milestones such as earning tenure, improving performance, or reaching key milestones. Employees who are recognised in this way will feel more valued and motivated to reach personal and corporate goals in the workplace. With the holidays fast approaching, employees will appreciate the extra cash.
One of the advantages of the Rec Room platform is its adaptability. Businesses can create and manage a personalised Work Perks catalogue. Each perk within the catalogue aligns with a specific company value or objective. Each time an employee meets a milestone, they receive a redemption token. Tokens can be redeemed for perks such as a paid half-day off work, lunch with the CEO, or a week’s supply of daily coffee from the local café. The perks can be customised to fit the culture and atmosphere of a business, rewarding employees in a way that resonates. Offering these kinds of perks can be leveraged to attract the best and brightest in the field and help retain team members who are crucial to your success.
Recognition for employees is a proven motivator and influencer on performance. Happy staff not only perform better, they stay longer which reduces the cost of re-hiring and training. By creating a participatory and immersive experience for your employees, you will be able to reap the many rewards available for both your employees and your organisation.
With more than 20 years of experience, EonX’s specialists are the go-to strategic and tactical partners for increasing employee engagement and satisfaction.
Are you ready to start your employee recognition journey? Drop us a note, and one of our team members will be in touch.