When talking about rewards in a business world, for the sake of rewarding good performance, promoting a culture of well-being, and keeping the best talent in the market, we undoubtedly require a magnifying glass.
There are more and more companies talking about it and that implement it with the main objective of generating a high degree of motivation in the collaborators, because if we are talking about profitability, that is the best way to obtain it. Because they understood that not only the results should be the focus, but also the people behind them, because if they empower them, they can catapult two or three times more results.
However, economic incentives are not everything and they are not the only way to make an employee feel good, there are other types of incentives that are relevant and important and that even create a sense of belonging, one of the values most desired by employees. leaders and managers of a company.
According to a study by the Opener Institute for people and the Wall Street Journal, employees who are happy at work are 36% more motivated and 31% more efficient, which means that implementing and managing an incentive program that contributes to the empowerment of your workforce is no longer an option, but a must.
Big companies in the world do it, why don't you? Look at the benefits these brands provide to those who work with them:
Airbnb, the company dedicated to offering accommodation to individuals and tourists, has its collaborators happy, as this online platform provides them with an annual payment of $2,000 (1,798 euros) to travel and stay in the establishments offered on its website.
Twitter, although it is today one of the most criticized social networks for some of its policies and information management, also pays for the three daily meals of its collaborators. In addition, it covers acupuncture sessions and improvisation classes, among other incentives of this type.
For its part, Alphabet’s company: Google has dedicated itself to organizing the vast amount of information that can be found on the web and has also thought about the well-being of its people. If one of their workers die, they provide 50% of the deceased's salary to their spouse or partner for 10 years.
While Facebook, known now as Meta, gives a check of 4,000 dollars (3,596.30 euros) to its workers every time they have a child. Accenture, the strategy and consultancy company has more than 699,000 employees around the world and part of its culture is to ratify its commitment to the rights of the LGBT community and it does so by covering gender reaffirming procedures of its employees.
To achieve this commitment and implement an unwavering work and well-being culture, it is necessary to talk about limits and rules as well. Everything that is proposed, why and how to access it, must be clear and shared with employees, in such a way that they understand how they can get on the boat of incentives.
One more fact, "the American Compensation Association" revealed that incentive programs that do not offer cash achieved three times more return on investment than those that were based on cash rewards.
How do you now imagine implementing incentives in your company? At Penta we are experts in incentive programs, and we can help you.