April 5, 2019
Reap What You Sow: What is the ROI of Your RnR?
Why is “enough” not enough? Organizations are making multiple attempts in updating their rewards and recognition program, but it is still not quite hitting the mark. We all have read 2017 gallup report that says that only one third of employees who are engaged at work, worldwide. Out of this there also 16% of actively disengaged employees (bad bunch of apples) that feel miserable at work, and can destroy whatever the engaged employees build. The remaining 51% of employees are not engaged at all - they’re just there, waiting for their payday.
However, there is also a report by Aberdeen, that found out the organizations with a high level of engaged employees outperform companies with poor engagement by 202%. A solid reward and recognition program is a kind of investment, if you play your cards right, can pay multiple dividends. However, this road to returns not the one without obstacles.
Here are the three common ailments HRs face when they placing Rewards and Recognition program at workplace -
- Unfair - It is very important to identify behaviors and actions you want to recognize and reward, and follow it consistently. If your recognition pattern is unpredictable and sporadic, two things are likely to happen. Firstly, employees will brand your recognition programs unfair, where managers show favoritism. Secondly, Employees will call your program inconsistent and will find it hard to trust your system.
- Boring - Most of the times the conventional rewards program that are generally placed in offices are very boring. A simple “thank you!” or “tap on the back” is ok, but what else are you doing? Almost all employees like their hard work to turn into tangible returns, and they want the journey to be thrilling and adventurous. So, if your rewards program does not include gamification, then things need to change.
- High maintenance - Work of an HR is very important. While, employee engagement is only part of HRs job description, one third of their time is consumed in planning, forming and implementing employee engagement and Reward and Recognition programs. And after so much efforts, the programs is still very complicated and difficult to implement.
How can Xoxoday Rewards platform help you out?
- Transparency: We at Xoxoday help you reinforce the right behavior and reward positive actions. Managers, HRs and peers can simply do a public “thankyou!” shout out or give rewards to the deserving employee without any train of approvals.
- Fun: Gamification plays on people’s natural tendencies for competition, achievement, and collaboration. Xoxoday employs in game design such as rewarding users for achievements and earning badges to help boost employee engagement and performance
- Low maintenance: Xoxoday’s points-based employee reward system is convenient choice for many companies who are looking for low-maintenance and high returns employee recognition program. Since we have a centralized digital platform, HR team can easily help managers in distributing reward points at their own convenience, control quantities of points distributed, and track who is giving and receiving points — all at the same time, in a single platform.
“Prior to Xoxoday, our rewards and recognition program were weak, sparse and not digested. Xoxoday made our program decentralised and transparent. Within a year of Xoxoday implementation were gained 10 points on our GPTW scores.”
- Ajay Sreedhara, HR Head, Cleartrip
“The redemption portal comes with simple UI which is appropriate to infy needs. These rewards options are quite comprehensive. This significantly enhances our employees experiences. Moreover,the analytics report from portal helps us keep a tab on our employees involvement level in the initiatives.”
- Neha Kothari, HR Head, Infosys
Have we have piqued your interest? Do you want to know more about Xoxoday?
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Xoxoday is a SaaS commerce company with products for employee and channel management.