Why money doesn’t matter in employee engagement
Posted on November 15, 2019 by Anthony Mortimer
When it comes to rewarding your employees, there’s much more you can do than simply adding a bonus to their next pay cheque. Money talks, but can feel a little like an easy, thoughtless reward in a world where many crave a more personalised and human way of doing things. In fact, 78% of employees would not work significantly harder in exchange for a bonus equivalent to 10% of their annual salary1. So, what will keep your employees engaged and achieving their full potential?
The power of “thanks”
There’s plenty of ways to create happiness within your workplace. Making your employees feel great about coming to work and getting involved in the business is essential to keeping them engaged and productive, and 72% of employees say that having more work benefits would increase job satisfaction.2 However, no matter what benefits are offered, sometimes something as simple as a ‘thank you’ from a line manager or senior member of staff is enough to make 48% of workers feel valued in their company.3
Greater flexibility in working hours
Show your employees that you value their lives outside of work hours by offering flexible working and keep them engaged with your business. There’s evidence to show that workers who are offered a more fluid business day take less leave and work more productively, with three-quarters of these employees saying they’d be reluctant to leave their current place of work if the new one didn’t offer a similar package.4
Give employees new experiences
Encouraging productivity through team bonding experiences can be a novel way to bring your employees together and working towards a single goal. From things like escape rooms, it gives everyone a chance to take on a role they wouldn’t normally do. If you’re stuck for away day ideas there are plenty out there. Consider things like cookery lessons, go karting, axe throwing, water assault courses and even charity challenges.
Keeping it simple with a gift
Of course, there’s no need to overcomplicate rewarding your employees. Trying to go too far above and beyond can not only become expensive, but become more of a burden than necessary. We’ve taken the hassle out of employee gifting with our range of M&S Corporate Gift Cards. You can give your employees the option to receive a physical card, e-Gift Card and e-Codes to purchase a reward that they’ll love. From lovely home comforts to delicious food, they can choose how to spend it well.