This website uses cookies to ensure you have the best experience. Learn more

12 Ways To Optimize Your Employee Benefits Program

2472 words - 10 pages

12 Ways to Optimize Your Employee Benefits Program:
Low-cost employee incentives, recognition programs and employee rewards
Sign up for Business Management Daily's e-letter for Leaders & Managers now and receive aFREE copy of 12 Ways to Optimize Your Employee Benefits Program ...view middle of the document...

Sign up for Business Management Daily's Leaders & Managers e-letter now and receive aFREE copy of 12 Ways to Optimize Your Employee Benefits Program with advice on:
* Low-cost employee incentives
* Meaningful employee recognition programs
* Inspiring employee rewards
* And much more...
-------------------------------------------------
Top of Form
 
We value your privacy.

Bottom of Form
 
...view middle of the document...

Good employee rewards and recognition programs provide employees with:
* A fair return for their efforts
* Motivation to maintain and improve their performance
* Clarification of what behaviors and outcomes the organization values.
Here are eight guidelines for employee recognition and rewards programs that managers can use in their departments, according to an Adecco management report:
1. Specify employee rewards criteria.
2. Reward everyone who meets the criteria.
3. Individualize employee rewards.
4. Say “thank you” frequently.
5. Nurture self-esteem.
6. Foster intrinsic rewards.
7. Reward the whole team.
8. Remember: You get what you reward.
The bottom line: Remember that employee incentives come in many forms, not just cash. For top performers, increased responsibility and lessened supervision can be rewards in themselves, as can flexible schedules, additional time off, first pick of desirable assignments, and so on.
The point is that employees must indeed feel that you are rewarding them for both working hard and getting results.

Sign up for Business Management Daily's Leaders & Managers e-letter now and receive aFREE copy of 12 Ways to Optimize Your Employee Benefits Program with advice on:
* Low-cost employee incentives
* Meaningful employee recognition programs
* Inspiring employee rewards
* And much more...
-------------------------------------------------
Top of Form
 
We value your privacy.

Bottom of Form
Employee Benefits Program: Tip #2
Employee recognition: Have you hugged your employees today?
You might think that employee recognition is about the rewards you give workers for long years of service or for retiring after a notable career. It’s really not.
Employee recognition is about engagement. And employee engagement starts with employer engagement. How engaged are you with your employees? Do you know their names? Their goals? What makes them tick?
Recognition doesn’t have to be about gold watches or cash bonuses. It’s even more effective when it’s about relationships.
Continue (or start) to appreciate your employees and recognize them for what they do. Know their names, their stories. Let them know yours. Let them in on the organization’s mission, vision and values. Establish trust.
Learn the Golden rule of employee recognition in 12 Ways to Optimize Your Employee Benefits Program: Low-cost employee incentives, recognition programs and rewards.
Employee Benefits Program: Tip #3
6 low-cost employee appreciation strategies that work
Here are 6 low-cost ways—suggested by Business Management Daily's HR Specialist Compensation & Benefits readers—that your organization can show gratitude to your employees all year.
 
1. Embarrassment committees. To celebrate a person’s annual anniversary on the job, form an “embarrassment committee” to make a ruckus as colleagues deliver a cookie bouquet and gift card.
 
2. Employee Appreciation Week. During...

Other Papers Like 12 Ways to Optimize Your Employee Benefits Program

Evaluate a Range of Ways to Embed Elements of Functional Skills in Your Specialist Area

595 words - 3 pages Evaluate a range of ways to embed elements of Functional Skills in your specialist area Functional skills are defined as ‘practical skills in English, information and communication technology (ICT) and mathematics that allow individuals to work confidently, effectively and independently in life.’ (The Qualifications and Curriculum Development Agency, 2009). These skills are often termed ‘transferable skills’ as they can be applied (or

Discuss the View That Children’s Understanding of Friendship Is Determined Largely by Age. Refer to Evidence in Your Answer. (12 Marks)

873 words - 4 pages Discuss the view that children’s understanding of friendship is determined largely by age. Refer to evidence in your answer. (12 marks) There are many different definitions of friendship that have been developed by different theorists. Hartup said; Friendship is a relationship where there is attention, reciprocity and commandments between people who see themselves as equals. Smith et al’s definition was; a close relationship between 2 people

Why You Think It Is Important – and Part of Your Responsibility – to Promote Appropriate Behaviour and Respect for Others and Ways You Would Go About Promoting Equality and Value Diversity Through...

771 words - 4 pages Why you think it is important – and part of your responsibility – to promote appropriate behaviour and respect for others and ways you would go about promoting equality and value diversity through your approaches to education and training The most important task for teacher is to educate the learner. To do so the better learning environment has to be created in the classroom. Positive behaviour or good behaviour of students motivates

As a New Hr Representative, You Have Been Asked to Facilitate a Session on Attribution Theory to a Group of Perspective Managers Participating in a Management Development Program. Your Manager Has...

1778 words - 8 pages and easy to search information needed. Moreover, it must continuously be up-to-date for most recent information about the company; customers like to see modification in the website. Products/services available should be represented clearly by key words or images on the Web site. Programs should be set up to find out which kind of customers are interested and what can keep customers coming back. This is the key of marketing strategy to know your

Discuss Eysenck’s Theory of Criminal Personality – Refer to Evidence in Your Answer (12 Marks)

653 words - 3 pages The term ‘personality’ is generally used to refer to relatively stable characteristics of a person that make their behaviour consistent across situations (but many other definitions are possible, depending on the approach being taken). Hans Eysenck (1964) put forward a theory of criminal behaviour based on a very influential theory of personality he had earlier devised. Although this theory is usually referred to as a personality theory of

Discuss Issues of Equality and Diversity and Ways to Promote Inclusion with Your Learners. Review Other Points of Referral Available to Meet the Potential Needs of Learners

638 words - 3 pages It is important as a tutor that you acknowledge and respect the needs of all your learners. By adapting to their needs and altering your teaching to suit, you are able to include a variety of learners, and not directly or indirectly exclude learners. Being aware of inequality will involve you understanding that learners have the right to attend and participate without feeling discriminated on the grounds of their ethnic origin, gender and race

Role Of Compensation In Human Resources Management

773 words - 4 pages Compensation and Benefits: Definition and Importance Compensation, Benefits, Employee Benefits, fringe benefits, compensation and benefits Posted by Numan Nazir on Friday, 02/12/2010 12:07 am     Human Resource Management (HRM) has never been as significant as it is today. Companies want to attract, retain and motivate brains to meet objectives. Today Humans are regarded as one of every company’s assets so they need to be efficiently and

Zendal Pharmaceuticals

1285 words - 6 pages , etc). Employee turnover in business units where managers participated in the program can then be evaluated, comparing pre-program turnover levels and turnover 6-12 months following the program. Hopefully this number would decline, allowing the savings to be added to the program benefits. Once program costs and benefits are known, you can calculate the benefit/cost ratio (BCR), which is done by dividing program benefits by program costs. This

Management Appraisal

632 words - 3 pages UNIT 3 INDIVIDUAL PROJECT Presented in Partial Fulfillment Of the Requirements for the Class Program Capstone: MGMT499 – 1501B-01 By Pamela A. Ward AIU Online April 12, 2015 Introduction This paper will show a manager’s performance appraisal evaluation form that will give you the guideline of what manager should be doing to be successful in managing their employees and the objectives and goals of the

Maxis Best Practice

2592 words - 11 pages excellent pass through the evaluation processes will be converted to permanent employee and automatically enjoy benefits and remunerations like other permanent employees. In addition, the company could implement Employee Referral Program, a rewards program to employee whose recommendation leads to an employment. The employee would recommend qualified friends, relatives or colleague that can be an excellent source of candidates for the company (4

Mar 19, 2011

1092 words - 5 pages morale among employees.  Four basic factors that play an important role in increasing employee retention include salary and remuneration, providing recognition, benefits and opportunities for individual growth. But are they really positively contributing to the retention rates of a company? Basic salary, these days, hardly reduces turnover. Today, employees look beyond the money factor. | employee retention can be increase by inculcating

Related Essays

Cost Benefits Analysis Of Employee Trng. Program

2374 words - 10 pages will be introduced to an oil distribution company undergoing costly problems because of poorly trained employees. These problems have resulted in repeated environmental violations. An analysis of the company was conducted to weigh the cost/benefits of incorporating an effective employee-training program to address the problem. The outcome of the analysis will determine whether the training is financially feasible, or if another project should

Actual Cost Of Employee Turnover & Ways To Improve Retention

2816 words - 12 pages each of the items listed above to show how these three simple steps could improve employee retention and reduce future turnover for companies if followed properly. Employee turnover is an incredibly costly expense to a company that can be controlled to some extent. So if there are ways to do this why not do it and see the benefits that will come by keeping the people you have and retaining the new ones that come aboard. When it comes to

Out Of Stock? It Might Be Your Employee Payroll Not Your Supply Chain That's To Blame

2160 words - 9 pages product brand and prices was the biggest driver of consumer perception of availability. Consumers think that it is not available to buy if there is no associate to explain the product, if there is no assistance when they need it. When we asked, 'Was there anything on your trip to the store that you couldn't find?' and then tried to get to the bottom of it, the biggest driver was employee knowledge and assistance. The actual presence of the product is

Outline Some Of The Ways Cultural Deprivation May Lead To Educational Under Achievement For Working Class Pupils (12 Marks)

547 words - 3 pages can change your position through your own efforts.Sugarman also believed in the idea of present-time orientation. This is where someone sees the present as more important than the future and therefore does not set long-term goals or plans. This view is also usually held by working class people in contrast to middle-class culture that has a future-time orientation that sees planning for the future as important as the present.Douglas suggested