Different ways for employers to provide effective employee rewards in 2022
Martech Outlook | Monday, February 07, 2022
Employers must do more to provide employees with their wellbeing as The Great Resignation continues — and may even worsen in 2022
FREMONT, CA: Employers must do more to provide employees with what they want and need, so many are rethinking their reward and recognition programmes and looking for new methods to make employees feel seen, heard, and rewarded for their contributions. Here's why Compt's creator and CEO, Amy Spurling, believes stipend payments could be crucial to future growth. For many people, the pandemic meant more work. According to a Robert Half poll, approximately 70 percent of remote workers now work on weekends, and 45 percent work longer hours during the week than they did previously.
Employers must do more to provide employees with their wellbeing as The Great Resignation continues — and may even worsen in 2022. They must understand what it entails in terms of remote work, flexible hours, and mental health care. Employers are reevaluating employee awards and searching for ways to guarantee that employees feel seen, recognised, and valued for their efforts in order to improve the employee experience, worker productivity, and prospective business outcomes.
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Amy Spurling, the founder and CEO of Compt, a company that helps employers reward and support their employees through stipend payments, talked about the next step in the evolution of employee rewards. The problem of supporting employees at the start of the pandemic meant putting in place the technology (hardware and software) that they required to be productive from home, and one thought of it as a temporary detour on the way to getting back to normal.
Providing employees what they want isn't a new concept in the rewards world. Employers have been adding perks and advantages, such as gym memberships, childcare reimbursement, student loan assistance, product discounts, and so on, for years in an attempt to extend the appeal. Any benefit firms introduce, just 2-5 percent of people will use it, Spurling added. Childcare, school debt repayment, and other great benefits are underutilized. Giving employees’ money to spend as they choose can have a significant impact on the employee experience and can aid in retention.
See Also : Employee Wellness Solutions Companies
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