This is generally broken down by a cost per year of service. On average, companies spend about $20 per year of service. Thus, a 10-year service award gift should be around $200. After 1-year of service, service award budgets average $10 to $15. As you approach the 25-year mark, service award program budgets tend to skew higher often reaching more than $25 per year of service as you approach the 35-year mark.
Global Recognition Programs: Delivering Thanks, Globally
Delivering Thanks – Globally: Global Recognition Programs With CoreCentive In the modern economic world, it is essential to make sure your employees feel like they are part of a family – not just cogs in a big, soulless machine. A global recognition program can be the answer. These days, making sure that their morale is […]
The Benefits of Social Recognition for Employee Incentives
The Benefits of Social Recognition for Employee Incentives In today’s age of instant gratification, employees have another incentive to work harder thanks to online offerings such as social media. Though employers should still offer other incentive options, such as a plaque for employee of the month, social recognition should be a primary focus. Many benefits […]
Why Turnover Is Higher Without Employee Recognition Programs
Why Turnover Is Higher Without Employee Recognition Programs When employees aren’t recognized, they feel unappreciated. It’s one of the reasons millennials have significantly higher turnover rates. If you’re an employer and you’re seeing a high turnover or hear that your employees are unhappy, you might need a better employee recognition program or employee incentive strategy. […]
5 Ideas to Appreciate, Energize and Recognize Your Employees
5 Ideas to Appreciate, Energize and Recognize Your Employees The threat of complacency is real in any workplace because, as any human can attest, complacency is so insidious you hardly realize you’re slipping into it until you’re steeped in it. For business owners, the obvious cure is to discover how to motivate and energize your […]
5 Top Tips for Creating a Superior Sales Incentives Program
Top 5 Tips for Creating a Superior Sales Incentives Program Have your employee sales incentives programs fulfilled their potential for your organization and your sales team? If not, it is time to reassess how your technology is delivering the proverbial carrot for optimum performance. This time-honored, proven method of incentivizing behavior now has a modern […]
Effective Peer to Peer Recognition
The data is very clear, an employee recognition program, including a peer-to-peer component, is a great tool in your organization’s tool belt for your overall employee recognition strategy. However, if not done correctly, there are issues that can pop up limiting their overall effectiveness. Here are a few key areas to address when creating or evaluating a peer-to-peer program.
Recognize Employees During COVID-19
Companies and employees around the world are currently faced with the uncertainty of what a “new normal” will ultimately be in the short-run and the long-term. The big question is what will business leaders have learned that will prompt them to change their business models and employment models to maintain productivity and the ability to be agile enough to react when the next COVID-19 pandemic appears. There is one thing that is apparent right now, and that is you have to recognize employees during COVID-19 as it is critical to keep your employees engaged during this troubling time.