It’s true; engaged, happy and rewarded employees will increase revenue and can in fact increase profits by $2,400 per employee per year. Crazy right? For Instance, Delta reported a 564% return on investment from their recognition program! Could you imagine your investment banker saying invest in yourself and you could earn a 500% ROI! Unthinkable, but possible! Therefore, we’re going to explore some ways that help achieve desired ROI and employee engagement within an organization.
The What’s
I’m not here to sell you that my company is the only company that you should use for employee recognition, although GGB does have plenty to choose from! There are many ways you can celebrate or reward your backbone. Many occasions merit a gift, but you need to have the right selection in order to distinguish the level of recognition. More importantly, you must know the intent to answer what you should give. A few hours of PTO may be acceptable for a job well done or a “Thank You” for going above and beyond. However, there are many other occasions and ways to show appreciation.
Delta Airlines developed a whole system to ensure that proper employee recognition goes out to the right people at the right time. They have standards for most if not all events that require employee recognition. Delta even went as far as making exclusive clubs for top performers who are voted on by the executive committee. I’m not saying that all companies need to go that far, but this case shows that going above and beyond with an Employee Recognition Program pays.
The Why’s
To engage your employees to produce above expected results. Highly engaged business teams result in 21% greater profitability and a 26% annual increase in revenue! The why is simple, happy people make profitable companies!
There are many occasions which qualify for a why, here are just a few:
- New Hire
- Work Anniversary
- Birthday
- Closing a big deal
- Going above and beyond
- Holiday’s
- Appreciation Weeks
- Weddings
- New Baby
We work with many companies who use one or two ways to show employees recognition. The most popular is the holiday gift. I would argue that it say’s more to receive a birthday gift. A personal holiday that shows care, compassion, and recognition.
The How’s
So many ways, so I will narrow it down to a few effective ways that companies are using. Some are using Perks and award points. Those are good overall benefits and serve there purpose, but Delta was the pioneer of this systems and allows for points to be added for going above and beyond on a daily basis. These points go towards things like athletic gear, trips, and gift cards.
Service awards are a nice way to say thank you, typically done in 5 year increments. We have clients that include service awards in our baskets as a total package of Corporate Branded gifts that include some awesome gourmet foods. Let us include their 5/10/15/20 year accomplishment gift and pair that with some wine & chocolates that they can enjoy with others.
Holiday gifts are always nice, but a birthday gift is much more personal. 68% of HR Manager’s & Executives believe an employee recognition program helps with retention. We have many clients who send us the roster and we send their employee a nice delicious thoughtful gift for them on their birthday.
Let Me Teach You
The How is a part that so many organizations struggle with. It can be a daunting task to set up a recognition program, and tasking someone with that on top of an already large workload can be unfair. Good news is, we have made the process easy. Let me show you how to start an employee recognition program. I will go over how to create and implement an employee recognition program and how we can help make it easy on you!
The Details
If you’re still reading this, thank you! I would love to thank you for the read. A share and a quick conversation on how GGB can help you build a seamless and practically maintenance free employee recognition program! I’ll send you a 1 gallon popcorn tin if you share my blog and agree to quick conversation on how we can help!
For Your Gift
Please share this article and then, give me a call 603-418-7575, or send me an email BMacarthur@gourmetgiftbaskets.com to book 15 minutes. As a result, you’ll get to know more about ROI and gifting, some good conversation and some great popcorn!
© Featured Photo by GourmetGiftBaskets.com