Elite Rewards compared recruitment and retention incentives in commentary published on March 25, 2022, describing a points-based rewards platform alongside hiring and retention bonuses. The discussion reflected the labour-market pressures employers faced at that time.
The article described a hiring incentive as part of attracting a candidate to accept a role, while a retention incentive focused on keeping an existing employee. It discussed recognition for established or high-performing staff as one use for the latter.
Elite Rewards also presented a points-based alternative to an immediate cash reward. Its platform description said an employer could determine point values and qualifying actions, with recipients exchanging earned points for items in a product menu.
The company listed a dedicated programme URL, custom branding, administration tools and customer support among the platform features. These were the existing capabilities described in the post, rather than a new product announcement.
The article did not compare measured hiring or retention results from specific employers. It presented the company’s perspective on the choice between recruitment and retention objectives and the role rewards might play in either.
Sources and documents
Collapse
- Hiring Bonuses vs Retention Bonuses - Which Is Best? — eliterewards.biz