Employee Recognition and the Coming War on Talent

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Released on: October 11, 2010, 3:47 am
Author: Incentive Solutions
Industry: Marketing

Employee recognition programs address threat of mass employee defection.

Atlanta, GA, Incentive Solutions (http://www.incentivesolutions.com) - The recession has driven US job satisfaction to the lowest levels in decades. Companies have cut staffing and benefits, leaving workers feeling overworked and unappreciated. When the economy improves analysts are predicting a mass defection of talent as unhappy workers seek new opportunities.

To reduce the loss of valued employees, companies should take measures to increase employee engagement and prevent burnout. Creating a culture of employee recognition is a solid first step, but it must be more meaningful than certificates and service award pins. Well-run employee recognition programs that reward employees for a broad range of desired behaviors (e.g. teamwork, cost saving ideas, embracing core values, etc.) can do wonders for improving morale, engagement and job satisfaction.

Running an employee recognition program can seem overwhelming, but there are vendors and systems available to simplify the task. One company is Incentive Solutions, a reward program services provider that delivers online employee reward programs through their RewardTrax® technology platform. In RewardTrax programs, managers award employees points for high performance and positive behaviors; employees can redeem their points for merchandise, tickets to live events and millions of other items. Incentive Solutions handles the technology and rewards end of things and
provides expert support.

RewardTrax includes a feature set designed to boost the impact employee recognition has on morale, job satisfaction and work engagement:

• Manager Banks: establishes manager point budgets for discretionary staff awards
• “On the Spot” awards: creates “instant award” certificates that bear point reward codes
• Email recognition certificates: delivers alerts when employees earn points
• Peer Points: enables employee-to-employee point “gifting”
• Quizzes and surveys: awards employees points for feedback and completing training
• Integrated reporting: tracks and reports program performance and budget

To minimize talent defection companies must establish an employee recognition culture well ahead of the inevitable economic recovery. A reward program service provider like Incentive Solutions can speed the process, creating a program that will drive worker engagement and satisfaction.

About Incentive Solutions
Incentive Solutions is a leading provider of business incentive programs, incentive travel and prepaid card rewards. Their customized solutions help clients strengthen relationships and behaviors integral to reaching organizational objectives like customer loyalty and acquisition, employee recognition, motivation and retention, channel sales incentives, sales force motivation. For more information, lease visit http://www.incentivesolutions.com.