How to improve employee engagement without breaking the bank
Did you know that 85% of employees are disengaged at work?
And this is worrying, as there is a strong correlation between employee engagement and business performance.
One report discovered that teams in the top quartile in employee engagement outperformed bottom quartile teams by 21% in terms of productivity.
So, to be more productive as a company you need staff to be engaged.
But how can businesses improve staff engagement easily and efficiently, especially as we enter the festive period?
In this blog, we will look at how you can create a positive work environment and boost morale without breaking the bank.
But first, what do we mean by employee engagement?
What is employee engagement?
Employee engagement refers to the emotional connection and commitment that employees have towards their work, their organisation, and its goals.
It encompasses their motivation, job satisfaction, and their sense of purpose within the company.
Engaged employees are:
- Highly productive
- Loyal, so less likely to move
- Actively contributing to the organisation's success
- Highly valued and recognised
- Looking for opportunities to grow and develop their role (and by extension, your business)
How to improve engagement at work
Too often, business owners think that they can buy one product, or engage in one activity, and “fix” their problem with engagement.
To truly improve engagement, it is not enough to buy a single product or offer a Christmas bonus and be done with it. Engagement will only improve if you develop a recognition strategy.
What is a recognition strategy?
A recognition strategy in the workplace is a deliberate and structured approach to acknowledging and rewarding the efforts and achievements of your employees. It normally includes a range of practices and programmes designed to appreciate and motivate staff members for their contribution.
Typically, recognition strategies involve:
- Regular feedback (for example, from line managers)
- Tangible rewards (such as bonuses, promotions, or awards).
The primary goal of a recognition strategy is to create a positive and motivating work environment, boost employee morale, enhance job satisfaction, and ultimately improve productivity and retention rates.
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Why is it difficult to do?
As with any deliberate strategy within the workplace, it can be difficult to set up and maintain a robust recognition strategy.
The modern workplace is increasingly a hybrid workplace, and as such colleagues are rarely gathered together in any one place. Hybrid working can make issuing praise hard.
In addition, the rise of flexible working (seen as a real benefit by most employees), means that colleague’s hours may not all sync together. Flexible working can make regular feedback difficult, as well as working against efforts to create a positive work culture.
In addition, in today’s economic climate, budgets are stretched and sometimes it can be difficult to source a cost-effective tangible reward, one that employees really enjoy.
How Bravo Benefits can help
At Bravo Benefits, we believe that developing a recognition strategy is an effective and affordable way of demonstrating your appreciation for your team’s work and improving engagement in your workplace.
After listening carefully to your goals, our Employee Benefits Consultants draw on their decades of experience to build a bespoke and cost-effective package of reward and recognition benefits, one that offers a comprehensive solution for your team and can work as part of your recognition strategy.
No matter your circumstances, our solutions can help.
Interested? See our range of reward benefits
What cost-effective reward solutions are out there?
As we approach the festive season, one effective element to consider including as part of your recognition programme is eGifting.
As part of a robust recognition strategy, here's how eGifting can help you improve engagement without causing financial strain.
1. Affordable Appreciation
We know how tight budgets are at the moment, but tangible rewards don’t need to break the bank.
eGifting is a cost-effective way to show your gratitude. It forms an important cornerstone of our reward and recognition offering, loved for its affordability by our clients, and really valued by the employees who become the recipients.
With a personalised message, eGifts are sent directly to employees via email. They can access and control their eGift cards through an app, either using the full amount or saving part for later.
2. Personal Touch
eGifting doesn't have to be generic.
In fact, it can be more personal than traditional gifts!
You can customise eGifts according to individual preferences. For example, from "The Foodie" to "The Tech Lover," you can tailor eGifts to suit your team's preferences.
Whether it's a favourite coffee shop, an online bookstore, or a streaming service subscription, your hard-working staff will appreciate the thought you put into it.
3. Immediate Gratification
eGifting offers immediate gratification, making it a powerful tool to improve staff engagement.
Traditional rewards often take time to reach employees. With eGifts, the rewards are instantly available for them to use, enhancing the positive impact on their motivation.
eGifts remove that barrier that remote, hybrid or flexible working can sometimes create; as you are not reliant on staff being physically present to issue the rewards, your staff’s working pattern does not prevent you from including them in your recognition programme.
4. Flexibility and Variety
eGifts provide flexibility and variety, ensuring you can cater to the diverse interests of your hard-working staff.
With over 130 top retailers like John Lewis, ASOS and Uber on offer, you can truly be flexible in your gifting.
You can offer a range of options, allowing employees to choose the gift that resonates most with them.
This flexibility is a great way to boost engagement without causing financial strain.
5. Easy to Implement
Bravo Benefits makes eGifting simple and hassle-free.
Our team provides full support for scheme setup, promotion, and management. We also offer staff education on scheme benefits and account access.
Setting up an eGifting programme doesn’t require a significant investment of time or resources, making it a practical solution to engagement for businesses of all sizes.
Improve employee engagement with a recognition strategy today
At Bravo Benefits, we believe that eGifting is an effective and affordable way of demonstrating your appreciation for your team’s work and improving engagement in your workplace. But taken in isolation, the impact will only go so far.
To get the result, eGifting should form part of a robust recognition strategy within your business.
The positive feelings and motivation it generates can last past the festive season and throughout the year. Employees will remember the appreciation shown to them, which can continue to fuel their dedication and hard work. Remember, engaged employees are more productive, and investing in their happiness is an investment in the success of your business.
So, don't break the bank – eGift your way to a happier and more engaged workforce this festive season!