The benefits of providing rewards for employees

In the wake of UK’s apparent productivity slump, employee happiness and engagement has never been more relevant. Positivity and happiness is infectious, and services like VoucherBin provides a means of celebrating UK businesses who are leading the way in creating a positive, motivated and happy work environment.

Companies like Voucherbin provide business and employees discount vouchers for high-street and online retailers like Currys , EE, 1&1 UK, Simply Business. As well as entertainment brands like Disney, Lego and Ticket Master.

These voucher rewards from VoucherBin boost employee happiness and engagement, as these rewards can be provided by the employer.

 

But why is employee engagement important to businesses? It’s simple: to make higher profits. Businesses with more engaged employees perform better. Need convincing? Need a business case for employee engagement?

• Businesses with more engaged employees have 51% higher productivity
  • (Harter, J.K., Schmidt, F.L., & HayesT.L., Psychology, 2002 Vol. 87, No. 2)
• Businesses with higher engagement have 9% higher shareholder returns
  • (Towers Watson, 2009)
• Companies with the most effective employee communication have 47% higher shareholder returns over the last five years
  • (Towers Watson, 2010)
• Engaged employees outperform disengaged employees by 20-28%
  • (The Conference Board, 2006)
• Organizations with engaged employees showed a 19% increase in operating income over a 12-month period, compared to a 33% decrease in companies with disengaged employees
  • (Towers Perrin, 2008)
• Organizations with highly engaged employees achieve twice the annual net income of organizations whose employees lag behind on engagement
  • (The Impact of Employee Engagement – Kenexa)
• In companies where 60 to 70 percent of employees were engaged, average total shareholder’s return (TSR) stood at 24.2 percent; in companies with only 49 to 60 percent of their employees engaged, TSR fell to 9.1 percent; companies with engagement below 25 percent suffered negative TSR
  • (Employee engagement at double-digit growth companies, Hewitt Research Brief)

 

These research items show that there are clear advantages of having a highly engaged team. To get these results, your business does not need to invest large amount of funds right away.

Start with reward vouchers from VoucherBin.