12:00 AM, 08 01, 2016

How Can HR Increase Staff Loyalty?

Pay freezes, wage decreases, low morale and an uncertain future are the situations HR professionals have to battle against – and if you’ve been tasked with ‘increasing employee engagement’ or ‘increasing the NPS score’ for your business, you might feel like you’re starting the project from the worst point in history.

You have to improve the loyalty of staff you already have not only to increase the bottom line but to reduce the costs associated with hiring and re-training.

Your boss has surely discovered that stat that “companies with engaged workers grew revenues two and a half times as much as those with low engagement levels” and now wants to you to put a reward and recognition system in place.

So where do you begin?

 

1.   Agree you all want to build a culture of rewards and recognition

Work with everyone in the business at a manager level to ensure everyone is on the same page. Explain the benefits of rewarding and show them the stats. Explain your current predicament and where you hope to be – for example, you want to be rated as 5* on Glassdoor.com, or have an increased NPS score by September.

 

2.   Choose your Reward Platform

A reward platform is easy to set up and simple to administer, and it also creates a buzz in the office. Alternatively, you might want to bulk buy gift cards, hampers or a similar incentive. Get all the options in place and then set the how in motion.

 

3.   Agree how it will be managed

Whatever method you have chosen  - ensure everyone is trained on how, when and why to reward and recognise. HR can do the legwork, but the day to day recognition is down to managers. You can come together to decide things like:

·       What rules will you put in place?

·       What is the budget?

·       Who approved the rewards?

·       What is the ceremony attached- would you prefer email delivery of a reward code with a personalised note, or something verbal? 

 

4.   Sell the benefits!

If you’ve committed to being a more grateful workplace that values employees – tell people! Make sure you launch the programme with videos and images. Perhaps your CEO could present why it’s here, and what the goals are.

 

5.   Finally – check it’s working.

If you have a rewards platform, check you can see reports on usage. You want to know if employees are using rewards, or receiving them. Is it working for you? If not – why not? Speak to an office manager or someone close to the heart of the business to see if they can keep an ‘ear to the ground’. See what your employees think!

 

We hope this has helped you see how HR can easily and effectively get the ball rolling towards a culture of rewards and recognition. If you’re interested in your options for a Rewards Platform, speak to us today. Email hello@svmglobal.com and we will get back to you immediately. 

 

Wendy


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