10 benefits of online reward programmes

Online networking is on the rise, but many businesses are missing the opportunities Web 3.0 presents for staff reward and recognition. As your staff (and likely yourself) increasingly use online communications channels as a daily routine, you have to consider if providing reward programmes online will be more convenient, beneficial and even cost-effective.

The key benefits are:

1. Reach - It’s a familiar channel with a larger reach. Most people already use online channels outside, and sometimes inside, of working hours – from online shopping to social media.
2. Channel of Choice – People (your reward recipients) increasingly demand choice, to be treated as individuals and to do things on their terms. Online channels give you more opportunities to personalise these rewards & communications.
3. Ease – People don’t want to have to work hard to redeem rewards and they want the process to be fun & rewarding. Online takes the hassle out of the reward process for reward giver & recipient.
4. Engaging – Online reward programmes are more engaging due to the speed, ease and variety of options. This can help build engagement not just with the scheme itself but the scheme brand owner and can be further developed when managers are entrusted with local reward and recognition budgets.
5. Sharing – Online channels enable successes to be shared with others quickly to help create ripples of great performance and behaviours that spread across a community or business.
6. Consistent – It is possible to ensure consistent delivery of message, irrespective of location or shift patterns.
7. Flexible – Content changes as business strategy/goals/objectives change. the speed of online channels allows a more flexible programme which can grow and adapt with the business.
8. Immediate – Access to an immediate, complete and consolidated picture of the programme through detailed reporting and controls.
9. More than money – Reward and recognition doesn’t have to be about money. Online opens up more opportunities for non-monetary recognition, such as e-cards, thank you communications and certificates.
10. Measurability – online provides greater visibility of the reward process & therefore improved reporting and analysis on ROI, so essential in today’s environment.

Reward and recognition is evolving quickly. It is an important ingredient in the wider pursuit of increased engagement & performance. Check back on the eHub later this week when we will look at implementing peer-to-peer recognition.