In a 2013 global research conducted by WorldatWork, 77% of the organizations having an Rewards & Recognition system in place cited ‘recognizing years of service’ as a goal of their recognition program. 74% firms cited ‘creating a positive work environment’ as their objective met through recognition programs. 73% companies intended to ‘create a culture of recognition’ through their recognition strategies. 72% of them wanted to ‘motivate high performance’ using recognition programs. 66% wanted to ‘reinforce desired behaviors’, 60% intended to ‘increase morale’ while 56% wanted to ‘support organizational mission/values’.
Trust and transparency form the core of employee and team motivation. With an appropriate use of technology, organizations can imbibe trust in their employees and transparency in their systems and processes. Giftxoxo offers its Enterprise Rewards & Recognition platform which can be easily integrated with your existing systems and can assign appropriate level of access to every stakeholder. It would allow you to reward and recognize your employees the way they want and build trust. Allowing the employees to choose their own experiential gift can go a long way in building their trust and commitment towards the organization.
In the same research as cited above, it was also found that 57% of the firms following Rewards & Recognition used ‘employee satisfaction surveys’ to measure success of their recognition programs. 53% companies measured success via the ‘usage rate of rewards by employees’ and ‘participation rate of employees in recognition programs’. 42% organizations tracked ‘number of nominations’ to track success of their recognition programs while 30% measured success via the ‘turnover rate’ of their employees on an annual basis.
It is imminently clear that employees should feel willing to use their rewards and express their levels of work satisfaction to the organization. Experiential gifting gives your employees the advantage to choose their own rewards from a set of experience options. In addition, Giftxoxo Enterprise platform gives you the necessary tools and techniques to plan and execute your rewards and recognition strategy.
"Appreciation can make a day, even change a life. Your willingness to put it in to words is all that is necessary." – Margaret Cousins