How to tailor your staff reward scheme to suit your company's needs

Monday, 26 March 2012 08:15

Motivate your staff with reward schemes

Motivate your staff with reward schemes

Looking after your workers is vital if you want your business to function efficiently and if you want to retain talent. Employee benefits are a cost-effective and popular way in which to motivate your team, but how can you find a solution that's right for you?

Who are the rewards for?

The first thing to think about before choosing an employee reward scheme is who you intend to offer benefits to. Do you want to set up a programme for recognising long service, or even those who are leaving your company to retire? Alternatively, you can choose a benefits package that is available to all staff members, whether you want to hand out monthly gifts to recognise hard work or just want to say thank you to the entire team for their contribution to your company's success.

In addition to this, you should also consider who your employees are, as this may affect the type of benefits you offer. If your workforce consists of lots of parents, for instance, choosing a scheme that provides discounts at a range of high-street retailers might help them stretch their paycheque a little further each month – which is bound to be appreciated when they have children to take care of.

Another option is to offer your workers discount codes for a selection of products, such as home insurance, groceries and even clothing. In a tough economic climate, this can be a big help for tight household budgets.

What do you want to achieve?

Offering employee schemes that confer a host of benefits is great, but you need to be clear in your mind about how you want it to impact your business. Are you keen to boost productivity? Do you want to reward people for working extra hours on a big project or do you feel the morale in your firm simply needs a boost?

If you intend to recognise one-off achievements, you'll need to take a slightly different approach than if you hope to provide a general lift to your workforce. For instance, providing benefits that last for months, or even a year, such as discounts in high-street stores, is a fantastic way to make your staff members feel valued all the time.

Rewards for individual employees or teams who have gone the extra mile for your firm, meanwhile, can be more personal. By selecting a flexible scheme, you will be able to choose from a host of options, from vouchers and gift cards to a points system that enables workers to collect credits in order to receive rewards.

Whatever route you choose to go down for your employee benefit scheme, you will discover your workforce is happier, more engaged and willing to work even harder for your firm as a result.



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  • Low cost ways to improve employee benefits schemes

    Opportunities to reward your workforce will be in short supply if your company has been hit by the recession. However, there are still some small steps you can take to improve employee benefits packages without putting too much financial strain on the business.

  • Why set up a staff retention scheme?

    Staff retention is an issue all companies have to deal with, as losing key workers is both expensive and disruptive. There are ways to reduce the number of employees who leave and not all of them will break the bank.

  • How should staff reward schemes be organised?

    With money tight in the current tough economic climate, companies are looking at alternatives to pay rises to keep their employees motivated. Among the options to consider are staff reward schemes that demonstrate to workers that they are valued by the business.

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