Member Article

Online retail vouchers most popular choice for rewarding and incentivising employees

Research proves that smaller ad-hoc rewards can go further than year-end bonuses

Latest statistics from Sodexo Engage, specialists in employee and consumer engagement, show that online retailers top the list when looking at the most popular voucher incentives chosen by businesses to reward their employees.

This was closely followed by department stores including John Lewis and Marks & Spencer, supermarkets such as Sainsbury’s and Tesco, electrical retailers including Currys PC World and DIY and home improvement shops including the likes of B&Q and Ikea who all appear in the top five choices.

TOP 5 VOUCHER INCENTIVES

1. Online retailers
2. Department stores
3. Supermarkets
4. Electrical retailer
5. DIY & Home Improvement

Sodexo Engage research indicates a growing trend away from year-end bonuses, with only 25% of 18-24 year olds and 27% of 25-34 year olds saying they feel motivated by them. That compares to 35% of workers aged 55 or more. Instead, research found that more than four out of 10 (41%) felt that smaller rewards throughout the year would be a more popular approach to rewarding staff.

According to recent research, 79% of employees quit because they feel unappreciated*. eVouchers and reloadable gift cards offer an effective way to say thank you and incentivise performance this Christmas, helping to improve workplace engagement and contribute to a positive company culture.

Jamie Mackenzie at Sodexo Engage says: “Financial rewards can easily become absorbed into an employees’ personal monthly spend and run the risk of going unnoticed or becoming expected after a while. Ad-hoc non-monetary rewards can serve as a reminder of your employee’s achievement and help them to feel distinguished.

Underestimating the power of a thank you is one of the biggest mistakes a company can make. Once upon a time it was all about cash rewards, but our research shows that nowadays employees’ favour towards something more personal. It’s about understanding your workforce and knowing what makes them tick.

Giving staff the benefits they deserve goes a long way to helping improve employee engagement, motivation and all-round morale – but that only works if employees are actually making use of what’s available to them. Our eVouchers and reloadable gift cards are a popular choice because they are easy to issue, and straightforward for employees to access and enjoy.“

Sodexo Engage provide single and multi-vouchers on behalf of 50+ retailers across the UK including high street shops, department stores and clothes shops. Dining gift cards are also a firm favourite as employees encourage a healthy work-life balance as well as cinema and Sky Store vouchers.

Sodexo Engage has a global partner network which allows them to deliver the biggest choice of products as part of their employee rewards and incentives packages.

This was posted in Bdaily's Members' News section by Sodexo Engage .