The Power of R&R

Rewarding your team is one of the most impactful ways your business can Improve employee retention, increase productivity & prevent burnout, but it’s not always utilised. A recent study found that 45% of employees felt undervalued, and 64% felt disengaged from their work.

Reward & Recognition can be seen as impersonal ceremonies and announcements; not very meaningful or personal to the employee. Organisations must take away the “tick box” requirement of R&R, and start implementing employee incentives that make a difference. There are a wide range of amazing ways businesses can uniquely say thank you and show their appreciation to their team. What works for some companies may not work for others. It’s about understanding your team and their needs, and ensuring you build a R&R scheme that works for your business.

Peer-to-Peer recognition

Peer-to-Peer recognition is a simple way to improve employee relationships and gain insight into what employees are excelling in. My Staff Shop offers an internal “fanmail” system, where employees can send notes of gratitude or praise to their colleagues. Teams who work well together are more productive over all, and will build on each other’s momentum to reach their potential.
Managers can check the fanmail board and see who’s standing out,so they can then put them forward for further rewards, or promotions or progression in their career. 

Reward Beans 

Reward & Recognition can be boosted with My Staff Shops digital currency, Reward Beans. Choosing to give employees Reward Beans for hard work will allow them to make a saving that is unique to them. Reward Beans can be used across a wide range of retailers. From Electronics and holidays; cinemas and clothing stores. Supplying employees with perks in this way ensures they will use their reward on something that will benefit them, rather than a generic reward voucher that might not apply to their specific needs. 

Positive feedback

Perhaps the simplest ways businesses can provide R&R is verbal feedback. Managers can set aside time to speak with employees and check in with how they feel about their work and development within the organisation. It’s an opportunity not just for management to provide a positive report on their teams, but also for the employee to respond with how they are feeling, and raise any good work they have seen. Not only does it help secure open communication within the company, it also can help boost morale and a sense of community and belonging within the team. 

Good R&R can be an incredible tool for businesses. In addition to awarding current employees, R&R can attract the best new talent, and helps build loyalty, which is crucial to retaining those hard working individuals. Employees deserve to see the value of their input, and what they can gain from sharing their skills. Rewards, alongside other benefits like hybrid working and employee assistance programmes will help to stop the slump and bring back motivation and innovation to the workforce.

Success for businesses hinges on the value placed on their employees. Implementing a strong and diverse Reward & Recognition scheme will solidify a businesses care for their employees. This builds a strong Employee Value Proposition to promise and outline the great culture and benefits their team can expect, so that employees can grow alongside the business.  

Learn more about how our Reward and Recognition offerings can benefit your workplace by booking a free demo with our sales team!