Virtual Incentives recommended three elements for employee incentive programmes in commentary published on November 29, 2021: visible recognition, recipient choice and prompt delivery. The advice was framed around the US worker turnover concerns of that period.
The company suggested celebrating an employee’s contribution with colleagues, so the reward was connected to a specific achievement. It presented the acknowledgement itself as part of the incentive experience.
For the reward, Virtual Incentives advised offering more than a single gift card brand. It argued that a range of choices allowed employees to select something more relevant to their own preferences.
Delivery options discussed included email, text, retailer applications and direct deposit. The company said it could adapt programme and delivery arrangements to an employer’s needs.
The article cited a contemporary Engage2Excel survey in which 58% of respondents said they were likely to work for a new employer within six months. That figure represented stated intentions in the survey referenced in November 2021, rather than a subsequent measured departure rate or a finding about Virtual Incentives clients.
Sources and documents
Collapse
- How to Use Incentives to Engage, Motivate, and Retain Employees — virtualincentives.com