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How Instant Employee Reward Strategies are Shaping Modern Workplaces
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While it may not always be visible, employee disengagement can gradually diminish productivity and contribute to higher turnover. Aon estimates a 15% productivity drop from disengaged employees, which could lead to substantial financial losses over time.
This raises an essential question: how do you ensure your workforce remains engaged to prevent sustaining such losses? Instant employee rewards are the answer. Here’s why they’re so effective:
1. Instant Employee Rewards Ensure Prompt Recognition
Unlike annual awards and long service recognition, instant employee rewards provide timely acknowledgement as they occur, leading to significant boosts in productivity and engagement. In fact, a study by Harvard Business Review shows that employees who receive such rewards can experience up to a 15% increase in productivity, highlighting the direct link between real-time recognition and enhanced performance.
As workplace expectations evolve, it’s essential to enhance your employee rewards programme beyond long service awards and traditional recognition. Giftano makes it possible to deliver instant employee rewards via SMS, email, and other platforms, ensuring that recognition happens right when your team achieves their goals.
2. Instant Employee Rewards Boost Motivation
When companies invest in employee recognition programmes, they frequently observe lower turnover and improved retention rates, and Singapore is no exception: According to Aon’s 2022 report, robust recognition systems can reduce turnover rates by up to 79%, while Michael Page Singapore notes a 25% increase in employee retention.
When employees are confident that their efforts will be recognised, they are driven to maintain high standards and pursue ongoing improvement. Instant recognition takes this further by ensuring you’re never caught empty-handed when goals are achieved. With immediate delivery of rewards, you can keep motivation high and foster a culture of real-time appreciation, celebrating successes as they happen.
3. Instant Employee Rewards Alleviates Pressure on HR Resources
Adopting an instant rewards system can transform your HR operations, greatly enhancing your organisation’s efficiency and effectiveness. Research by the Incentive Research Foundation reveals that 66% of HR professionals find digital reward systems streamline their administrative tasks, reducing the time spent on paperwork and processing.
With these administrative burdens lifted, HR teams can redirect their focus towards critical areas such as talent development, employee engagement, and fostering a positive workplace culture. The Society for Human Resource Management (SHRM) reports that such a shift can boost these initiatives by up to 30%, leading to a more dynamic and responsive HR department.
This agility allows HR to promptly address employee needs and concerns, creating a continuous cycle of engagement and improvement. As a result, organisations not only see enhanced employee satisfaction but also build a more proactive and supportive work environment, reinforcing the overall effectiveness of their HR strategies.
4. Instant Rewards Drive Large-Scale Employee Engagement
Imagine being able to reward your team instantly, no matter where they are — through SMS, email, or more. That’s the power of instant rewards: they scale effortlessly. The Giftano Card is a perfect example, offering over 1,000 gift options from more than 250 top brands in Singapore.
Since 70% of employees seek a wide variety of rewards, as revealed by the Incentive Research Foundation, the Giftano Card delivers more, offering instant access in Malaysia, Vietnam, Thailand, and more, featuring local gift options. This ensures that your international employees can redeem rewards from local favourites, making sure no one is left behind.
Getting Started with Instant Employee Rewards
Struggling to integrate instant rewards into your employee recognition programme? Reach out to us at [email protected]! We’ll connect you with a dedicated account manager to guide you through the setup process, and you’ll be ready to go in under five minutes!
Plus, with Giftano’s 24/7 self-ordering system, you can grab those instant rewards whenever you need them. Just select, check out, and reward — it’s that easy!
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The Giftano Gift Card is the perfect gift for any occasion.
The Giftano Gift Card enables your recipient to redeem any gift of their choice through a selection of over 1000+ gifts offered by over 150+ premium brands on the Giftano website.
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