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Top Employee Benefits and Reward Schemes

Employee benefits and rewards are a great way to attract and retain talent and keep your workforce motivated. As the workforce needs are evolving, hence having effective employee rewards and recognition programs in place is vital for businesses. 

Employee Reward and Benefit Ideas

1. Insurance Plans

One of the most sought-after benefits, especially in the current environment is holistic employee well-being and a strong healthcare program lays a strong foundation for it. Offering insurance benefits to employees is an excellent way to show that organizations care. Organizations can pick insurance packages for employees’ medical care, in addition to their salary benefits. The insurance policies can cover losses from accidents, illnesses, sudden death, disability, etc. It can also include additional medical benefits like dental checkups and covid treatment cover for employees and their families.

2. Paid Vacation Days

It is important for organizations to encourage employees to take time off. Taking a break from stressful workday routines is crucial for employees’ mental as well as physical well-being. Taking time to rest and unwind helps avoid work-induced burnout and helps manage anxiety and stress better.

3. Digital Gift Cards

Digital employee benefits and corporate gifting solutions have been taking over ever since the pandemic hit in 2019. Digital gift cards offer a win-win situation for both the sender, as well as the receiver. It is a brilliant option if you are looking to appraise your employees with experiences rather than traditional gifts. Digital gifting options like Sodexo gift cards offer them the flexibility of choice. The Premium Pass Celebration is the perfect choice for special occasion rewards. The gift cards can be tailored to an organization’s needs and can add a personal touch through customization by adding the recipient’s and organization’s names to the card.

4. Mindfulness and Wellness App Subscriptions

Instead of going for conventional gifts, employers can choose thoughtful gifts like wellness app subscriptions that would help their employees get healthier physically, emotionally, and mentally. Calm and Cult mind fit are two mobile apps that provide daily meditation courses to aid with anxiety, attention, sleep, and other issues. These apps also offer guided meditation audios and videos, soothing sleep stories, calming nature scenes, and sounds, etc.

5. Home Office Budget

With hybrid work setups becoming a more permanent arrangement, people require an office space at home. To create a home office, employees would require furniture, gadgets, and accessories that would increase the burden on their income. Organizations can support their employees by offering a home office budget that would help to create a productive workspace at home. 

6. Performance Bonus

Although monetary employee benefits and incentives make a limited impact on the workforce, they are still an effective way to appraise employees. By tying rewards to results, performance bonuses give employees a sense of achievement, tangible ownership, and control. The bonuses also act as a motivator to achieve organizational success.

Employee rewards and recognition programs were once seen as an added benefit. However, they are now fundamental for any business to have a productive workforce. Employers can build an organization that cares for employees and is a great place to work by offering employee benefits and rewards.

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