In the last post, we talked about the versatility of an employee program - the fact that details can be changed according to the position of the company or the needs they are currently facing. Companies put an employee recognition program into place for a host of reasons including the need or desire to raise employee morale and increase production as a result. They choose prize incentives, they define the goals that will determine eligibility and the employees within the company that will be eligible to participate. At any time any of these parameters can be changed - lending incentive programs a flexibility that is unrivaled.

The staying power of an employee recognition program - how it is able to grow along with a company - is defined by this flexibility simply because company owners and management teams are able to customize the program to meet their needs year to year rather than choosing a cookie-cutter program that may or may not hold up over time. The ways in which a rewards program can grow with a company include:

Employees can be added to program participation based upon the number of employees or the particular goals that the company wishes to meet and the employees that would be involved.

Goals can be redefined to reflect what is important to a company at that time. Plans evolve and change over the years. An employee recognition program can help you outline your goals for that particular time period and communicate those goals to your employees.

The prize incentives can be changed or added to depending on a company’s budget. Like any company, there are times when you have more money to spend than others. Your employee program can reflect your budget in that you can choose bigger, more expensive prizes when your cash flow dictates or scale back the prizes during times when you have less to invest in the program.

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There is not one business in this current economy that has the time or financial resources to spend second-guessing themselves or continually trying to find things that work in helping them reach their goals. In other words, when it comes to making a financial investment in a company program, the powers that be want to know that this investment will cover them for awhile and that they won’t have to reinvent the wheel a year from now. In this regard, a strong employee program is among the best investments a company can make in their employees and their production as a whole.

An employee recognition program, as its name suggests, provides tiered prizes that are available for employees to choose from if they are meet particular goals. The strength of such a program rests with its versatility and - through this versatility - its ability to grow along with the company.

Incentive programs are completely company-driven. Company owners and/or management teams sets the parameters of the employee recognition program - determining what goals employees must meet in order to be eligible for prizes, what prize incentives will be included for each program and each tier, what employees within the company are eligible for the program and more.

An employee recognition program can be adjusted as often as warranted or wanted. Because the parameters of the program are set by the company, they can be redefined at any time. This means that prizes can be changed according to budget or particular goals, employee eligibility can be changed and goals can be adjusted as necessary. Whatever a company wants to create from this program can be done.

In the next post, we’ll talk about how this enormous versatility can benefit a company - in any industry - now and well into the future. More to come…

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It may only be October, but the holidays - for all intents and purposes - are just around the corner. For companies that work in seasonal stock this means that production is increasing as the wind up begins. The holidays also present a great time to take advantage of an employee program.
An employee recognition program allows employees to work towards particular goals that are defined by their company. When those goals are met, the employees are then eligible to choose from a tier of prize incentives. It is up to the company’s ownership and management to define the parameter of the employee recognition program - the type of prizes, the cost of the program, the goals that they want employees to reach and the employees that will be eligible to participate in the program.

An employee program can work wonders for any business in any industry throughout the year but it can be particularly effective during the holiday season. Why? Because employees are naturally looking for ways to earn extra money and the opportunity to earn cash and prizes simply by working hard to achieve particular goals can be enormously enticing.

If you haven’t already considered including an employee recognition program in your place of business why not consider it now prior to the holidays? This will give you the opportunity to:

Give your hardworking employees the opportunity to earn prizes and extra cash that will benefit them and their families during the holiday season. Additionally, this is always a great opportunity to recognize those employees that work so hard for you throughout the year.

Improve morale. As you slide into the end of the year and the holidays are on everyone’s mind, sometimes production can suffer. Morale can be improved through a rewards program.

End the year with a bang. In addition to honoring your employees, an employee recognition program naturally increases production as people work hard to achieve particular goals. This allows companies to rev up their business and close out the calendar year with high energy and high production.

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In the last post we talked about the fact that business owners may at some point be introduced to - or choose to seek out - an employee recognition program. As with any other program that we examine to determine its appropriateness for our company, an employee recognition program must include benefits that will make sense for your particular company and for your particular employees. We already talked about the purpose of an employee recognition program - to reward employees with a choice of prize incentives if they reach particular goals that you have defined as a company. We also talked about the prizes themselves - about how they can be chosen to fit the personality of your company, the interests of your employees and your budget and how they can be changed as your needs or your budget changes.

What is also important to talk about is the setting of goals. Business owners and management are able to determine what level of employees are eligible for what tier of prizes and what goals must be realized in order to be eligible for those prizes. Again, that is all customizable according to your needs and what you want to achieve. No matter what your specific circumstances, however, you will find that a rewards program has certain benefits across the board including:

The ability to raise morale. Nothing gets morale going more than employees having the opportunity to win prizes - compensation over and above their salary and existing bonus structure. If the prizes are interesting to them and worth winning they will work hard to make sure that they are eligible to choose from among them. Never underestimate the power of incentive.

The ability to promote teamwork. Oftentimes goals must be achieved by teams within the organization so while one person may work hard to reach the level where they are eligible for prize incentives, it is ultimately necessary for the whole team to rise to the challenge in order for goals to be met. Cooperation and teamwork are necessary for success.

The ability to increase production. Of course the runoff benefit of all this work is that production is increased. Ultimately that should mean that your company recoups any investment that you make in an employee recognition program - and much more.

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