The Society for Human Resource Management reports that companies experience a turnover rate of 18%. With nearly 1/5 of your staff turning over every year you need to be proactive about keeping them engaged. You can use tools like Givenly’s redemption platform to help retain your staff. Keep reading to learn the benefits of adding Givenly’s redemption portal to your employee onboarding.
1. Improve the Employee Experience
Employee engagement rises as a result of rewards and recognition. This can also improve retention and fosters a happier workplace environment.
Implementing a rewards and recognition program aids in boosting employee engagement. Employees say receiving personal praise improves their quality of work. You can show your praise by offering gifts.
Offering incentives for good work will increase motivation. This helps keep staff stay on task and remain upbeat.
These initiatives promote teamwork and give workers a goal to strive for. When people are rewarded for doing something well, they are more likely to continue doing it.
Gifting your staff is a great way to praise their successes. With Givenly rewards programs, you can make it clear that you and the business as a whole value them. Employees that feel appreciated are content and eager to put in a lot of effort to advance the business.
2. Boost Employee Retention Rates
Measuring the proportion of employees who stay on staff over a given period is called the employee retention rate. Your company’s retention rate acts as a compass. Your retention stats should guide your team in determining the efficacy of their retention tactics.
Test employee engagement by calculating the percentage of employees who stay at the company. Prioritizing employee retention can reduce company costs, improve productivity, and strategize workforce tactics.
Although employee turnover is a normal part of every organization, it may be problematic for the HR department when it is significant. The time it takes to handle each employee’s departure is considerable, not to mention the time it takes to find a replacement.
Employers need to work to incentivize employee loyalty. You can do this by using the Givenly Redemption portal so your employees can handpick their gifts.
3. Attract Talent
The performance of an organization is directly impacted by its ability to recruit new talent. A company is likely to struggle with low productivity and poor decision-making. Without a talented applicant pool, you will have uninspired personnel.
It thinks forward when it comes to hiring talent. Talent acquisition teams can let potential hires know about the Givenly incentive programs. This lets new recruits know your business takes care of its employees.
You can attract top candidates with an engaging onboarding program. This will show you care about your staff from the start of their career.
Offering incentives helps to show how much a company cares for its staff. Employers need to prioritize a smooth onboarding to attract talented staff.
When people enjoy working at a company and feel truly seen and appreciated they are more likely to recommend the company to their peers.
The Givenly Redemption Portal lets you show your staff how much you care and collect their preferences. These small details of onboarding can make a huge difference when retaining talent.
Make sure to include new employees in your employee referral program. After they have a pleasant onboarding they will be eager to share the opportunity with their talented networks.
Employee recommendations are a crucial avenue for recruiting candidates. Employee recommendations are recognized to be easier, quicker, and less expensive to employ. They also onboard quicker and remain longer.
4. Build a Stronger Company Culture
You can attract and keep successful employees by creating a strong, deliberate corporate culture. This is done by intentionally communicating during the recruitment and onboarding phases. Employers can work to build a stronger company culture through intentionality during onboarding.
An organization’s culture defines its internal and external identity. Your company’s culture shows how it does business with others and interacts with employees, clients, and partners. When you are bringing in new employees you need to make this clear from the get-go.
Companies that dig into company culture during employee onboarding indicate that it is simpler for new hires to fit in. In the early stages of the employee lifecycle, often communicate your business’s purpose, vision, and values.
To help new employees become engrained in the company culture, you should opt to use introductory meetings and training. This helps cut through barriers and establish a sense of unity amongst employees.
5. Amplify Productivity
For new recruits to reach their maximum production, it normally takes around a year. It takes time to adapt to a new job. A smooth onboarding can cut down on the learning curve needed to establish a collaborative work environment.
With an intentional onboarding process, you can skip the “learning curve” for new employees. Investing in employee onboarding can help new hires gain a sense of confidence and enthusiasm for their work. Helping staff feel empowered is essential for workplace productivity levels.
Integrating the Givenly Redemption portal into your onboarding can help you find rewards for their good work. Having an incentive to work is important for morale. A successful onboarding procedure enhances new hires’ integration into the company.
Utilize Employee Onboarding
Onboarding is a great opportunity to show your employees that you care. Seize the opportunity to use employee onboarding to improve the employee experience. With Givenly you can collect employee preferences and provide meaningful incentives.
Contact us to integrate Givenly into your employee onboarding process.