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Organisations are getting more aware of the importance to create a healthy and conducive work environment for their employees. The success of any organization relies on the performance of its work force. Giving the right rewards by using incentive programmes ignites the right work attitude and performance levels. Each employee feels appreciated when recognised and rewarded for their individual efforts.

Employers who keep their employees engaged and rewarded are recorded to be 21% more profitable (source How Employee Engagement Drives Growth (gallup.com)) than those who do not. 70% of employees who are rewarded are also easily motivated to do more without compulsion (source 50 Employee Recognition Statistics You Need to Know In 2023 – Springworks Blog).

More organisations are increasingly appreciating the importance of personalising incentives for their employees, as individual preferences differ for performance motivation. The extra efforts employers put into employee rewards, resonates with their staff as being valued and recognised.

Giving employees the value of preference for reward choice (personalised incentives), also helps reduce the efforts required to constantly push for performance or drive results. This gives managers the necessary time required to run the business without encumbrance. Current trends in personalised incentive choices by employees are:

  • Health & Wellness rewards: Employees are more conscious of a healthier lifestyle to attain better physical and mental abilities. For wellness needs, making provision for stipends to gym memberships, fitness classes, wellness apps, and personal trainers are good incentive options.

  • Mental Health Support: Access to mental health resources such as therapists, retreats and time off.

  • Bespoke Rewards: In a point system incentive plan, providing employees with a catalogue that features a variety of reward choices is impactful. Also, offering bespoke gifts based on hobbies or interests is a powerful way to appreciate employees. Facilitating personalised experience rewards such as events tickets, travel experiences, and dining experiences.

  • Public-good & community service: Supporting the passion and interest of employees, by providing paid time off for their volunteer work, and activities. Giving money or contributions to their favourite charities as well as causes they care about.

  • Learning & Development support: Providing customised training programmes, online courses, and certifications based on employee’s career ambitions. Facilitating mentoring programmes by pairing employees with mentors who will provide personalised guidance and support for the career growth and development.

  • Personalised work hours or self-scheduling: Allows for employees to set their working hours or choose work options such as hybrid or remote work. Giving support to remote workers such as subsidies for home office equipment and internet service.

  • Financial Incentives: Offering monetary rewards outside of remuneration for exceeding performance expectations, by tailoring bonuses to employee’s performance metrics and contributions. Giving stock options and equity grants to align employees financial interest with company’s success.

  • Recognition & Rewards: A peer recognition system utilising a platform for community interactions among colleagues. This allows peers and supervisors/ managers to give personalised recognition and commendations. In addition to this, peers and managers can offer personalised awards (certificates) or trophies to commemorate the achievements and contributions.

  • Employee feedback and engagement: Giving a voice to employees through feedback/s is crucial. By conducting surveys employers can better understand the incentives preferences of their employees. Utilising digital platforms, aids in gathering real-time feedback for incentive needs and program adjustments where required.

Ultimately, the goal for implementing personalised employee incentives, is to create a more motivated and engaged workforce. When employees are satisfied by their employers through acknowledging individual preferences and their contributions to organisational success, employers are also able to retain their top talent and declare profits in a competitive business market.

Uwin Iwin Incentives Pty, Incentive Programmes | Uwin Iwin Performance Incentives is a pan African full house incentives company that has 30 years’ experience in providing companies and organisations with inspiring incentive solutions in Africa, India & the Middle East. We collaborate with organizations to unlock market potential and enhance productivity through our innovative reward solutions. Our vision is to deliver first-class incentive programmes, using modern and creative approaches to drive business success. We are eager to form strategic partnerships and help your organization achieve its goals. For more details, please contact us at info@uwiniwin.co.za.

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