Categories: Uwin Iwin News
Employees Smiling

A highly attractive above-the-pay packet Recognition and Rewards, together with performance incentives opportunities are increasingly becoming the hallmark of top companies around the world.

Driving this trend are several major factors that have forever changed the world of work.

  • The massive dissatisfaction levels that exist in the world of work where overwhelming statistics show that 40% of the global workforce is considering leaving their employer this year.
  • 23% of today’s jobs will change by 2027 and require more than 60% of all workers to be reskilled.
  • 75% of C-Suite executives 64% of managers and 60% of workers are seriously considering leaving their jobs for one that better supports their well-being.
  • 59% of the global workforce is Quiet Quitting and not engaged.

These are incredibly challenging realities for businesses that are under huge pressure to deliver services and products that will please customers, results that will create positive shareholder returns, and teams that are agile productive, and successful. Individual employees who are happy, fulfilled, and live purposefully.

The Uwin Iwin Performance Incentive company is developing holistic solutions that drive and customise tools, interventions, and partnerships that help HR and C-Suite executives to navigate and inspire people results, support, develop and reward that become a culture of caring performance excellence. People first, passionate and purposeful culture.

Advantages/Disadvantages of Performance Incentives

Without performance incentives, organisations have no way of sharing upside results with the very teams and people who create them. The win-win philosophy has to be embedded in everything we do today, not only with customers and communities but also with teams and people who drive that value to society through the businesses created to do so.

Cracking the performance whip has for decades created a grudgeful relationship between capital and labor, even worse is the view that ” we pay them every month why there should be more” It is unbelievable that we still hear this in today’s times.

Without strategically aligned, well-thought-out performance incentives top performers will migrate to new spaces, not yours, engagement levels will stay at ridiculously low levels of almost 60% and people in these workspaces will deuterate in their wellness scores and eventually break and break the very fabric of the asset’s organisations are attempting to grow and maintain.

Of course, there are performance incentive programs that are not strategic, they are often DIY implemented without specialist advice and short term in nature. They often are not holistic and focus on certain categories of employees only. Either executive level only or revenue drivers only. The downside of this is that resentment builds from those not included and heard, resulting in a second-class citizen feeling. Rewarding individual effort without consideration for company values and culture. Resulting in a toxic high-performance culture that is destructive and creates even further disregard for an inclusive let us perform together culture.

There is absolutely no doubt that from deep-level research and countless positive case studies of businesses around the world that companies who pay special attention to creating cultures that are enhanced with opportunities for people to participate in reward and recognition programs, incentive competitions, experiential and lifestyle improvement rewards keep moving forward at a sustainable pace for improved people and business outcomes.

There are four key parts to address in any successful solution today.

  1. The correct use of digital technology to ensure the administration and user experience does not become a burden and trip up any opportunity.
  2. A reward and experience set that is as diverse and inclusive as the people audience in our workforces today.
  3. Transformational leadership development can help leaders at every level, engage this challenge with new skills, and new enthusiasm, and work with the new tools that are available today.
  4. A professional recognition and incentive reward partner to navigate and co-create a bespoke solution for your tribe.

Rewards today are as numerous as the experiences and commercial opportunities out there in the world. Choice and personalisation of rewards, the way they are authentically won and the way they are given with appreciation and heart, is more the point. It’s how they are 360 degrees packaged and set to inspire that is the art form of incentive rewards.

Travel experiences are always ranked as the most powerful as this is not only high value, personalised, and experience-filled, but also has the most valued commodity of all time out from the performance race.

Mastercard-enabled value transactions can be used to add value to the family, personal relationship goals, or individual pursuits. This unlimited choice reward mechanism is highly valued and a powerful motivator.

  • Gift catalogues from hundreds of online retailers

  • Wellness products, services, and experiences

“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”

– Richard Branson

Are you ready to take your business and team to the next level?