When we talk about rewards in the business world, whether for good performance or for promoting a culture of well-being and keeping the best talent in the market, it is undoubtedly a subject that requires some scrutiny.
More and more companies are talking about it and implementing it with the main objective of generating a high degree of motivation in 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 potentiate these, they can get two- or three-times better results.
However, economic incentives are not everything and they are not the only way to make a collaborator 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, company leaders, and managers.
According to a study by Opener Institute for people and Wall Street Journal, employees who are happy in their work are 36% more motivated and 31% more efficient, which means that implementing and managing an incentive program that contributes to the potentialization of human talent is no longer an option, it’s a must.
Big companies in the world do it, why don’t you? Look at the benefits that these brands give to those who work with them:
Airbnb, the company dedicated to offering accommodation to individuals and tourists, has its collaborators happy because this online platform provides them with an annual payment of 2,000 dollars (1,798 euros) to travel and stay in the establishments that they offer on their website.
Although Twitter is today one of the most criticized social networks for some of its policies and information management, it 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, Google has dedicated itself to organizing the immense information that can be found on the network, it has also thought about the well-being of its own. In the event that one of its collaborators dies, it provides 50% of the deceased's salary to their spouse or partner for 10 years.
While Facebook, today known as Meta, is 100% committed to the families within the company. It grants a check of 4,000 dollars (3,596.30 euros) to its workers every time they have a child. Accenture, the strategy and consulting company has more than 699,000 collaborators in the world and part of its culture is to ratify its commitment to the rights of the LGTB community and it does so by covering the gender affirmation surgery costs of its employees.
To achieve this commitment and implement an unbreakable work culture and well-being, it is necessary to talk about limits and rules as well. Everything that is proposed, the reasons, and the ways to access it must be clear and must be taught to the collaborators, in such a way that they understand how they can get the advantage of these incentives.
One more piece of information, “the American Compensation Association” revealed that incentive programs that did 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.