All organizations realize the importance of having a solid employee total rewards program in place. For, it is the key to successfully reinforce and drive employees to fulfill an organization’s mission and business goals. However, implementing an effective employee total rewards statement is anything but easy.
What’s more, outdated employee rewards programs that are paper-based are not only redundant but also trivial. To make their employee rewards process effective, organizations need to shift their focus and make it futuristic instead of taking a retrospective stand. And, employers need to think beyond monetary rewards to keep their employees engaged.
While an archaic rewards program can help you reward top performers of the past, automation can help you get a step beyond that. It can help businesses take their employee satisfaction to the next level with factors like recognition for achievement, learning and development opportunities, and career advancement possibilities.
Listed below are three ways that automation can make your employee total rewards statement provide the impact you always dreamed of.
1. Focus more on strategic execution
Manual employee rewards and recognition programs are labor-intensive. From creating nomination forms to printing them and forwarding the nominations to the committee which is incharge of selecting and rewarding employees, it relies on the manual effort exerted by the HR team and functional managers.
Automation eases the administrative burden involved in the process, reduces the need to chase after stakeholders, and provides HR managers more time to focus more on the strategic parts of their employee recognition process. Reduced manual intervention will not only enable process accuracy but also ensure 100% on-time completion of the nomination process.
2. Eliminate bias and favoritism
Businesses that rely on outdated tools like paper forms and spreadsheets to run their employee rewards program pose a higher risk of bias and favoritism running rampant since it is hard to perform due diligence on every stage of the employee rewards program.
Whereas, an automated employee rewards statement which is supported by rule-based workflows will prevent erroneous and inappropriate nominations eliminating the chance for any bias or compliance risks completely. With detailed audit trails and 360-degree visibility, business leaders can overcome the recency effect and make an accurate decision that is backed by data.
3. See if your employee rewards are impactful
Rolling out your employee rewards program and failing to measure the impact it leaves on your employee morale is equivalent to throwing away your hard-earned money down the drain. While you can easily measure the cost of your employee rewards program, in a manual environment, it is impossible to track the data that is required to measure the impact your program creates.
With automation, you can easily know who was recognized and who wasn’t, how well the program is received in each of your internal departments, and other critical data points at the touch of a button. With built-in reports, HR leaders can turn their data into actionable insights based on which they can make informed improvements to their existing employee rewards program.
Automating your employee rewards program can provide your employees the experience they are looking for and the impact you’re trying to create. Instead of looking at it as an unnecessary investment, SMBs need to understand that it is a growing necessity. For, without it, businesses can not do justice to their employee rewards statement.
Using automation can eliminate repetitive tasks involved in the employee rewards process and improve your employee satisfaction rates significantly. The ability to digitize nominations can improve employee experience, the transparency of your selection process can imbibe trust, and data analytics can make sure that your employee rewards statement remains in top shape.
What’s more, automating your employee rewards process will neither dehumanize it nor will it replace the interactions that you have with your employees. It helps HR leaders and functional managers to leverage the power of technology to break conventional barriers in your employee rewards program to achieve greater efficiency, improve employee trust, and eventually motivate your employees to do their best possible work.
If you’re searching for ways to transform your employee rewards and recognition statements for the better, embracing automation must be your first choice to make your dream come true.