It has often been said that satisfied employees are highly motivated employees. Considering today’s competitive landscape, it makes sense to keep workers loyal at all times. This often comes in the form of a reward for a job well done. Let’s take a look at one unique approach, and its benefits.
The Notion of Electronic Vouchers
Often referred to as e-vouchers, these unique offers have become commonplace throughout many industries. The main point here is to provide efficient workers with a reward for their ongoing efforts. One relevant example involves the flexible nature of Pluxee vouchers. What are the main benefits of these packages? There are actually several ways to answer this question. One is associated with the perspective of the employee, and the other centers around the business model itself. Let us take a closer look at both sides of the equation.
Recognition of a Job Well Done
There is little doubt that fostering a motivated workforce is often easier said than done. However, it is also a well-known fact that workers who feel that they are being rewarded for their efforts are much more likely to perform at a higher level. This is particularly the case when referring to commission-based salaries, and employees who are obliged to meet specific sales targets.
These observations actually make perfect sense. After all, why continue to work hard if the efforts themselves seem generate little interest? Employees are instead much more likely to remain “under the radar”; performing just hard enough to keep their jobs, but rarely seeking to meet thresholds that they might consider to be unjustified. Simply stated, those who feel that they are employed in a thankless position will hardly rise to the occasion.
Accommodating Unique Salary Requirements
Many workers state that they find it increasingly difficult to make financial ends meet. This is once again when the versatile nature of e-vouchers come into play. These can be used to provide real-world discounts at thousands of real-world locations (for example, Pluxee offers are recognized at more than 150 retail chains). Workers can therefore pick and choose where they wish to use their voucher. This provides a sense of personalization that is not often possible with a one-time gift card, or even an end-of-year salary boost.
A Passive Form of Incentivization
A recent study undertaken by the Harvard Business School found that employees who are highly motivated may perform up to 50% more efficiently when compared to the average worker. E-vouchers represent a tangible means to ensure that they continue shooting for specific targets. Ongoing incentives are also excellent ways to keep an office performing at its peak when difficult target margins need to be met; a common scenario within numerous sales-oriented environments.
Hidden Benefits
As highlighted previously, businesses also stand to benefit from the use of e-vouchers as gifts. There are many times when these actually represent much more cost-effective solutions when compared to other cash-based rewards. To put it simply, they make perfect sense from a purely pragmatic point of view. Let us also not fail to mention that the money saved through such vouchers can thereafter be channelled directly back into other core operations such as:
- New employee onboarding programs
- Ongoing training modules
- Sales pipelines
- Marketing
- Product development
All of these metrics represent individual facets of a well-rounded business model. Of course, employees who feel that they are working within a highly efficient workplace are also much more likely to remain loyal over time.
The bottom line is that there are many ways in which managers can boost in-house satisfaction. E-vouchers represent flexible, cost-effective and personalized solutions that will certainly not fall upon deaf ears. Employees are the heart of any business model, so it makes a great deal of sense to address their needs.