Outdated Employee Rewards Philippine SMEs Need to Get Rid Of
Keeping your employees motivated after they’ve adjusted to their working environment and juggle their tasks with ease is not easy. Once the 9-5 grind becomes routine, workers get complacent or bored. A strategic incentive program is a good way to reward employees for their effort and keep them engaged.
However, the problem with rewards and benefits is that businesses tend to rely on processes that they’re accustomed to, rather than seek new programs that will benefit their employees. Here are the outdated rewards that Philippine businesses need to replace:
Outdated Employee Rewards in the Philippines
Cash, Cash, Cash
When asked what employees want the most for their incentive, the answer would always be “cash.” However, study shows that monetary incentives don’t always work.
Rewards shouldn’t always be monetary. As much as cash incentives sound appealing and convenient, money is an ineffective motivator. Money alone cannot satisfy recognition, acceptance, and self-esteem. It has no trophy value and no tangible reminder of the hard work you’ve exerted.
Gift Certificates and Sodexho Vouchers
Gift certificates and Sodexho vouchers have become the standard rewards for incentive programs. From a business perspective, they’re easy to avail from the vendor and give out to the employees.
However, workplaces have evolved and these rewards are outdated in a time of automation. Automation is still in its infancy in the Philippines, but there are companies who have come up with innovative solutions. Businesses can now avail of an online-based rewards program that eliminates the need for paperwork and storage.
More importantly, this automated rewards program provides employees a tangible reward that is more exciting to look forward to than a piece of paper. They don’t need to think about how they will be able to avail they’re reward, they can instantly use it.
Locally owned business may not be able to give amazing perks as free food and laundry service like Google, but there are affordable alternatives. Locally owned businesses need to step up in providing incentives to employees because there are plenty of outsourcing companies that can do so. There are also overseas-based or foreign-owned companies that can provide travel opportunities for local talent. The rewards don’t necessarily have to be extravagant and recognition goes a long way.