Why Your Business Could Need a Points Based Employee Recognition Program

March 18, 2015
Why Your Business Could Need a Points Based Employee Recognition Program
One of the driving forces behind any successful business is the hard work and dedication of its employees. Whilst a competitive salary, generous benefits package and opportunities for further training and personal development are often helpful aids in attracting the right sort of candidate, the most powerful motivators of enhanced staff performance are more frequently timely recognition of achievement and clear evidence of being valued by their employer. Employee recognition programs are a fantastic way of providing the rewards workers crave in return for their endeavors. Discover below how a points based recognition program can benefit your organization and its personnel.
 

What is a points based recognition program?

In the same way as any other points based reward program, staff are allocated points in return for desirable behavior. Behaviors which are frequently singled out to receive points include regular attendance, enhanced effort towards meeting performance targets, outstanding work or the achievement of well-being goals such as weight loss or cycling to work. As the points accrue, workers are able to swap them for rewards from a selection offered through the organization running the points initiative. Points based employee recognition programs are ideal to encourage staff to put greater effort into achieving the targets your business needs.
 

The benefits

Williams Recognition programs are easily customizable to the needs of your organization. Whether you're a large multi-national or a small enterprise, a program can be created which meets you needs. The wide range of gifts which employees can select once they have accrued sufficient points through the program can be tailored to fall within a specific budget or to be appropriate for the purposes of the reward program (for example aids to fitness for rewarding well-being initiatives). A recognition program can be administered almost wholly online and may be easily monitored by senior staff to ensure its effectiveness and continued fit with strategic objectives. The flexibility and accessibility of a points based reward initiative enables every employee to participate and benefit, providing a versatile single solution to your desire to reward your workforce.
 

Tax advantages

One of the difficulties with rewarding employees through salary enhancements or other in-kind benefits is that they will be subject to tax, reducing their impact. A points based recognition scheme and the rewards which employees can expect to enjoy doesn't usually need to be declared for tax purposes, unless it's clearly being used as an additional form of remuneration.
 
With so many advantages, it’s little wonder that points based employee recognition programs are widely used as a way of incentivizing employees as well as a method of celebrating success and loyalty. If you want further information on how a recognition program could benefit your business, Williams, a major Canadian provider of recognition programs, will be able to give you plenty of useful information on your options.
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