Choose the Right Employee Reward and Recognition Program Incentive
The most common type of service award is the traditional length of service
program. These awards recognize people for their commitment to the company and
can help establish an almost forgotten feeling in today's workplace . . . a
sense of belonging. It's no longer realistic to wait until an employee's 25th
anniversary to honor his dedication and high performance. Workers who stay with
you through the ups and downs deserve to be recognized and thanked for their
loyalty and excellent work more often than every couple of decades.
Once you know a few specifics about your target audience, you'll be able to determine whether they would respond best to a peer-to-peer incentive program or an annual incentive award determined by management.
It's common to have a mixture of these programs when designing a employee reward and recognition program incentive. You may even want to tie a number of incentive programs under one umbrella.
For example, a large manufacturing plant enjoyed success with this mixed approach. Management started off targeting perfect attendance and on-time records. Then the program expanded to include a peer-to-peer component. As the result of an employee suggestion, management added one of our a merchandise catalog for greater achievements as an option to the regular gift certificates. Eventually, management developed a program that reviewed peer-to-peer honors awarded during a three-month period and selected one for a more significant award.
One of the most interesting characteristics of this program is how willing management was to let employees influence it. The workers developed a true sense of ownership and connection to their Employee Reward and Recognition Program.
When you're deciding which kind of service award program to use, keep in mind specific business objectives that tie in with the award recognition program. This connection with corporate goals helps justify and protect the award program's budget. Also, poorly conceived objectives can sink a program, no matter how well intentioned. Brainstorm with colleagues for a cohesive set of goals.
Last but not least, determine your budget, which encompasses all administrative costs, as well as the awards. The largest portion of your budget, about 70-75%, should go toward the awards themselves, as well as the celebratory banquet or special event.
Next is promotion, claiming about 15-20% of your budget. If employees don't know about a program, they can't participate. Also, if they think it's not a big deal, they won't attribute much significance to it. Any money left over goes toward administration.
When planning your budget, give careful thought to the demographics of your target audience. For example, if your service program is targeting a group that makes six figure salaries, the award must have substantial symbolic value or be a fairly nice award in order to get their attention.