The workplace experience of employees is directly proportional to the company’s success. According to a recent report by Gallup, engaged employees can increase productivity by up to 17%.
Organizations worldwide adopted several employee reward programs to incentivize and recognize their efforts and contribution to the company. However, these organizations no longer only rely on ‘employee of the month’ or service awards to appreciate their employees.
Instead, they opt for more modern reward systems like the spot awards program.
What is a spot awards program?
Like other reward programs, spot awards or ‘on-the-spot awards’ are also a form of employee recognition. However, unlike most rewards, this one is conferred within a short period or immediately after completing impressive work.
Spot awards programs give employees an impression that you care for them, and recognizes their hard work and dedication and it also boosts employee engagement.
Since there is no rule-of-thumb when it comes to reward programs, the specifics of spot award programs may vary with organizations.
Here are the basics of any spot award program:
👉 Spot awards are instant
As the name suggests, the employees get recognition for their work ‘on the spot’ through this award program. It means the selected employees do not have to wait for a month or a year to receive a reward.
Instant gratification boosts employee engagement the confidence of employees, especially millennials, who appreciate immediate acknowledgment more for their good work.
👉 Spot awards include monetary or non-monetary rewards
Spot awards programs can involve either monetary or non-monetary perks. However, it depends primarily on the organization you work with.
For the non-monetary spot award program, employees may get a social shout-out, company merchandise, a certificate, or even a medal!
On the other hand, monetary appreciation may include a cash prize, gift voucher, bonuses, or discount code for certain brands. It also works great with a point-based reward system.
It allows the qualifying employees to receive monetary incentives for what they have achieved for the company.
👉 Best techniques to build a spot awards program
The sole purpose of introducing the spot awards program is to identify and empower employees for their latest achievements. On the other hand, employers can follow some best tried-and-tested practices to create a spot awards program which boosts employee engagement.
Take a look!
Typically, employees have a love-hate relationship with their manager. Training the managers to offer spot awards to employees will help build a healthy work culture from the ground level.
Employees also feel confident and happy if their leaders appreciate their work. Providing managers with digital tools for employee recognition will ensure that spot recognition is easy and successful.
Likewise, giving managers an adequate budget and allowing them to curate a recognition program that requires minimal approvals will also add to your program’s success.
Once the managers are trained to give spot awards at the right time, recognizing and rewarding your employees will become second nature.
Set eligibility criteria
Just adopting the spot awards program is not enough. Managers also need guidelines for giving recognition. Therefore, it is necessary to set transparent and well-defined criteria to win these awards.
Once you specify the criteria or quality you expect from employees, it will be easier for employees to follow or work towards them.
When specifying your criteria for giving spot awards, consider which of the following common behaviors will work best for your organization:
✔️Collaboration and teamwork
✔️Giving new ideas
✔️Expertise in the job role
✔️Treatment of co-workers
✔️Rate of achieving goals.
Make the announcement visible
Spot recognition can be private or public. However, it works best when done publicly.
When you call out an employee for good work in public, he/she will feel proud. At the same time, other employees will also be encouraged to work harder towards their goals.
You can make the recognition visible and memorable through social media announcements, team meetings, or even a digital recognition platform.
Try to incorporate monetary benefits
Another efficient way to build a successful spot awards program is by offering monetary benefits to employees. The amount can be anything that is within the reward budget but should be adequate to motivate the awardee.
You can also make the experience better if you allow reward points to be saved along with spot awards. This way recipients can accumulate the reward points and redeem them to purchase an e-gift card or something of their choice later.
Leverage digital reward program platforms
The moments where spot awards are appropriate, happen quickly. This makes it difficult for managers or HR, to go to every employee and thank them frequently. Things can become even more difficult in a remote working environment.
In such cases, digital reward program platforms work the best. These platforms engage employees better, expedites the spot recognition process, and makes it hassle-free.
If you are an employer and are looking for the best solution for the spot awards program, you can try professional reward and recognition program platforms like Ovation. We are not just a traditional reward platform. We can help you curate the best possible spot awards program for your organization that boosts productivity and empowers employees.
Book a Demo at Ovation to get a suitable spot awards program for your employees and improve engagement and retention.