When relevant research crosses our desk, whereever it may come from, we want to let you know about it This summer, SVM, released the results from its survey of human resource professionals that explored the attitudes, needs and trends among employee incentive programs. Through the study, SVM was able to identify the current practices, future needs and areas of opportunity about how HR professionals are driving positive behaviors. The Employee Incentive Market Trends survey was distributed via email prior to and during the 2013 Society of Human Resource Management (SHRM) Annual Conference and Exposition. Here are 6 employee incentives that work:
- 84 percent of companies offer gift cards as part of their employee incentive program.
- Gasoline and retail gift cards are viewed by decision-makers as the most popular incentives among recipients and the most convenient to implement.
- 81 percent of respondents find physical cards more rewarding than electronic cards.
- Measurement and perceived value among recipients are the top challenges in employee incentive programs.
- Compared to value and everyday incentives, trophy incentives are not an effective employee incentive.
- The most important criteria for decision-makers is that incentive programs make employees feel valued, recognize achievement and increase morale.
Virtual Incentives provides solutions that help businesses connect with their most valuable employees, customers and partners in ways never before possible. Our prepaid platform is powered by a simple, customizable virtual solution that closes the gap between action/achievement and rewards, rebates and offers. If these survey results were valuable, we can help you plan and execute your next employee incentive effort in way that provide more motivation than ever. Did these results teach you something new about employee incentives?