Zen and the Art of Employee Incentives

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Zen and the Art of Employee Incentives Insights from our employee incentives research

Transcript of Zen and the Art of Employee Incentives

Page 1: Zen and the Art of Employee Incentives

Zen and the Art of Employee Incentives

Insights from our employee incentives research

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2©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Unlock the Right Employee Balance

You know the old adage, “You can’t please all of the people all of the time.” While that’s certainly true, a well-designed employee rewards and recognition program can actually please most of your people most of the time, leading to better productivity and performance. Offering the correct incentives — a yin-yang balance of what is most valued and what’s affordable — is one key to success.

To help HR professionals like you understand employees’ attitudes about corporate incentive programs, Blackhawk Engagement Solutions recently completed an employee incentive satisfaction study with 1,000 participants who work in over 12 industries and have annual household incomes of $50,000 or more. Here are our key findings.

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3©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Individual v. Group Incentives

Most employees prefer incentives for individual contributions over group recognition. However, 42% of them like a balance of personal and team incentives. Look around your company to see how you can incent both types of accomplishments.

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4©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

One-on-One v. Broadcast Announcements

People have strong feelings about how they want to be acknowledged: Some like company-wide announcements, but most prefer a more personal, human touch.

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5©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Good v. Bad Recognition

We asked employees with incentive programs to choose their top reasons for being both satisfied and dissatisfied with their rewards. Two topics appeared in the top responses for both questions: the reward value and the reward choices.

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6©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Millennial v. Boomer Preferences

In general, millennials (ages 21–34) value incentives most, and boomers (ages 0–64) value them least.

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7©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Age v. Digital Engagement

Our research revealed that virtual rewards — also called gift codes or eGift cards — are now understood and valued across all age groups:

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8©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Industry v. App Use

If your employees are highly likely to engage with an app, you might want to stretch your budget to build one — or perhaps you could simply choose a mobile-first platform that effectively delivers on-the-go employee engagement at a lower cost.

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9©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Age v. Retention

Our research revealed that younger people are particularly interested in robust recognition programs: 7 of 10 job seekers ages 21–34 consider employee incentives when searching for a new position.

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10©2015 Blackhawk Engagement Solutions, Inc. Confidential and not for replication or distribution.

Get Piece of Mind with Our Single Source Engagement Solutions

There is no one-size-fits-all employee rewards and recognition program. That’s why offer a flexible technology platform, a full array of employee-preferred incentive choices, dedicated client services — and the insights you need to provide a just-right strategy for your company.

To learn more about how we can enhance your employee program, call 866.219.7533 or visit bhengagement.com.

Sample size: 500 employees with corporate incentives, 500 employees without corporate incentives. All respondents have $50,000+ annual household incomes.

Blackhawk Engagement Solutions is a leading global provider of employee engagement solutions.

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