The International Women’s Day commemorates the invaluable contribution made by women to the society. This year, the theme of the day is - #BeBoldForChange. In the corporate context, this phrase can have multiple interpretations.
For starters, it could mean encouraging a workforce reflecting gender-balance. Women deserve equal opportunity for learning, performance management, career development, achieving progressively difficult milestones and effectively, realizing their full potential.
Another interpretation could be that organizations strive to make their workplace more women-friendly for bringing the best out of them. In such a scenario, they would need to customize their employee-efficacy metrics such as performance evaluation, training and development, career aspirations, compensation and benefits, work-life balance and rewards and recognition (RnR) according to the insights gathered.
Rewards and recognition for women
RnR forms a significant component of any organization’s strategy. A well-designed RnR includes appreciating your employees for their hard work and performance. Motivated employees are more likely to stay engaged with their organizations and work for a longer period of time.
The big question is – should organizations keep common rewards and follow common recognition methods for all the employees, or should they customize the same by department, seniority, or even gender? The correct option would be to customize since the motivational needs of different segments of employees tend to be different. In the case of women, for example, the manner in which recognition is expressed could mean more than the monetary value of the reward.
The next question is – what are the right rewards and recognition for women employees? The fact remains that though there is no single answer to this question, there are certain rewards that are more likely to be accepted better vis-à-vis others.
Experiences as rewards for women
Modern workforce in the corporate arena is multi-generational, comprising of the Gen X, the Gen Y, the millennials and now the Gen Z as the newest entrant. Women employees prefer to invest their time pursuing hobbies and activities that cater to their passion and interests. Hence, when it comes to rewards, they prefer to avail experiences over tangible assets and freedom over stereotypes as experiences create cherishable memories.
Experiences fit naturally into their scheme of things as the women of today look for an occasional adrenaline rush, a frequent deep relaxation, an increasingly-good conversation, an unpredictable journey to an unknown land, a chance to defy the laws of nature, an opportunity to be different, an excuse to bend rules and break stereotypes; some lip-smacking food with a great ambience, a knack to learn something new, a constant escape from boredom and a desire to embrace newer ways of life every single day.
Why select Xoxoday?
This Women’s Day, Xoxoday wants you to treat your women leaders and employees with unique experiences and create unforgettable memories. From Skydiving in Delhi to Flying a microlight plane in Bangalore to getting a personal online stylist in Mumbai, we have curated extraordinary experiences for bold women across India. To know more about experiential rewards for women,reach out to us now!