Workplace rewards can come in various forms such as birthdays, work anniversaries, service awards, incentive prizes, etc. Whilst reward systems are a thoughtful and effective way to boost workplace engagement. Simply offering rewards for the sake of it won’t have the positive effect you might think. They can be pretty damaging. It is essential to understand that Unilever employee benefits will have a perceived value attached to them, even if they are of the cashless or experiential variety. This is why it is said that ensuring fairness in your rewards strategy is key to success. It is important to remember when a business succeeds because of the people who work there – and every single one of them will play their part. It is not just an individual that delivers the presentation, signs the contract, posts the earnings report, or sits at the top of the ladder; a positive workplace culture recognises success at all levels. If you want to implement a fair global reward strategy, make sure you follow the below-listed steps- ● Have a simple and strong logic for implementing a global rewards strategy and identify any key organisational issues that could impact it. From the very beginning, be clear on how it will benefit your organisation and its employees. ● Make sure you contact a reputed company that has been in the business for the longest time, offering reliable global reward solutions UK. ● Identify how the reward strategy will fit with any overarching business strategies you might have and involve your HR teams in any initial planning that takes place. ● Look out for a key measure of success for your organisation to match your reward strategy- this ensures everyone is pulling in an appropriate direction. ● Make sure to review pre-existing reward practices you may already have implemented- if they are not working, don’t shy away to bin them and start from scratch. ● Always remember getting input from key stakeholders and involving your employees in deciding what rewards will be the most effective motivators. In conclusion, these above-stated are some of the steps that ensure a fair global reward strategy for all employees.
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April 2021
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