REWARDS MANAGEMENT

  How to create high engagement at work To create a work culture of high engagement, you should: 1. Create engagement purposefully Intrinsic rewards are abstract, and that can pose challenges when communicating them to the people who are supposed to develop programs that appeal to intrinsic motivations. For example, simply talking with a company’s HR department and asking them to develop an intrinsic rewards program may not be the right solution because of the complex nature of intrinsic rewards. A better solution is to ensure that intrinsic motivators are a part of the company’s culture and values. That may take new training initiatives, manager or corporate retreats, motivational speeches, deploying new management styles and more. Consider what motivators are important to your employees and how to purposefully make them an engaging part of the corporate culture. 2. Focus on your mid-range engages Once you’ve established a company culture where intrinsic rewards are ...

  Benefits, perks, rewards: what’s the difference? Is there a meaningful difference between these three lovely, shiny bonuses (what even is a bonus?). Perhaps the easiest way to remember what’s what is: Benefits Benefits are built into one’s salary. Traditionally, benefits were substantive yet non-financial aspects of one’s payment. For example, in the U.S, full health insurance can save an employee a lot of money and stress. Perks  Perks are often thought of as additional little treats that make life at work more bearable. These range from beer Fridays, to dog Wednesdays, to frisbee Mondays. However, where things are changing is that these auxiliary perks are starting to count for more. Many employees want to better themselves, and the best companies are realizing this. So now, perks can include time allowances to learn a new language, join fitness classes, or cycle-to-work schemes. As you may have noticed, many of these more substantive perks will be mutually...