Rewards and Recognition: The Most Effective Way of Engaging Employees - Vantage Circle

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Rewards and Recognition: The Most Effective Way of Engaging Employees
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Rewards and Recognition: The Most Effective Way of Engaging Employees

Rewards and Recognition: The Most Effective Way of Engaging Employees

10th February, 2021

HR functions are transforming dynamically and rapidly. Today’s employees, consisting of mostly of Millennials and Gen Z, want to be rewarded and appreciated for their contribution and efforts. For this reason, rewards and recognition solutions are becoming increasingly popular among organizations worldwide. In particular one company has been redefing the way employers recognize and reward their workforce on the go, using data driven analytics, driving employee engagement and enhancing company culture.

Vantage Circle Driving Employee Engagement @Workplace

Whether its simply enabling employers to reward their employees for outstanding contributions or making employees feel valued, Vantage Circle has been simplifying one of the most essential HR tasks worldwide – meaningful recognition.

Why are rewards and recognition crucial? With the ever changing workplace requirements, the functions of HR are also evolving. Thus, employee recognition is more a mere HR task; it plays a vital role in the organization’s growth and development. Employees need to be constantly motivated to perform their best, and frequent and on-the-spot recognition is what they seek.

Rewards and Recognition denote the proper acknowledgement, appreciation, and prompt incentivization of an employer’s effort. By simply recognizing employees can maximize productivity, reduce employee turnover and increase employee loyalty.

Point Rewarding

Allocating vantage reward points to employees has been one of the most fruitful outcomes of our rewards and recognition solution. Every employee is different and so are their needs. Thus, employees should get the flexibility to choose the rewards they want. With the help of a global catalog, when they get to redeem their points to purchase gift cards on a wide range of products and services, it is definitely a win-win situation. The points being redeemable without any expiry date is an added advantage.

On Spot Recognition

Vantage Circle’s on-spot recognition gives a real boost to employee morale. Acknowledging the efforts of employees and recognizing them for their performance helps build and promote the culture of recognition and motivation across the organization. The notion of on-spot recognition is so much better than waiting a month for that “thank you” note on ones desk. Besides, instant recognition helps influence the staff to go above and beyond their job for the company.

Peer-to-Peer Appreciation

Recognition hold more significance when peers are provided a platform to appreciate each other for their performance. Making the process of appreciation more impactful, Vantage Circle creates a robust peer recognition program, which delivers a fast and agile way of building a company culture of continuous appreciation. Good team spirit and amicable work relationships enhance overall team performance and is seen as a result of implementing a modernized peer appreciation system.

Apart from the features mentioned above, Vantage Circle has several other aspects to its reward and and recognition system. The automating rewarding feature celebrates the employee’s birthdays and anniversaries by giving them tokens of appreciation on their special day. Subsequently, unique awards are created with innovative ideas and used to further enhance recognition efforts.

Contrary to popular beliefs, implementing a rewards and recognition program is not expensive for any company, be it small or big. Like Vantage Rewards, most awards and recognition platforms, offer a pricing plan that best fits your budget. Thus, even small businesses or startups are capable of boosting their employee engagement levels and ensuring job satisfaction – all without impacting their finances in a major way.

Our downloadable guide on Employee Rewards and Recognition gives you a comprehensive walkthrough on selecting and building an effective R&R platform to drive employee engagement.

The webinar on ‘Rebooting Employee Recognition Program is the backbone for Higher Impact’ talks about developing an effective R&R program to have the maximum impact on your people.

To sum up, a robust recognition program is the backbone of employee engagement in any organization. Through the R&R program, Vantage Circle aims to build a happy and productive workforce