37% of employees say that they are not rewarded or recognised at work.
At Blackhawk Network, we know that offering an inclusive, diverse reward and benefits package needs to be a crucial part of every business’ strategy. Never has there been a better time for employers to listen to their employees’ wants and needs, than in the months following a global pandemic. Together, we can reduce the number of UK employees who never receive recognition for their daily efforts.
Our many years of experience have taught us that providing choice is the most effective and inclusive driver of employee engagement. But in order to get to the bottom of what could be deemed the best reward and benefits strategy for the present and future workforce, we had to first assess the current state of play.
We wanted to understand how benefits and rewards are perceived as we enter a post-pandemic landscape, so we conducted comprehensive research comprised of data from 2,000 UK respondents. The results are fascinating and provide great insight into the future of employee satisfaction.
Split across three key areas, we’ve compiled insights, tips, and product recommendations. We refer to this as our guide to the ultimate employee engagement strategy.
In our report, you can expect to gain a deeper knowledge of the following areas, with some thought-provoking insights from our Blackhawk Network experts.
Rewards for all
In this section of the guide, we look at how often employees would like to be rewarded at work vs how often they actually are, what employees want to be rewarded for, and what would be the most valuable type of reward. We also explore the impact of COVID-19 and whether there has been a bigger shift for some more than others.
Following this, we look at using rewards for non-performance-based occasions and whether a large proportion of UK employers are missing a trick by overlooking personal milestones.
There is evidence to show that UK employees would like their rewards and benefits to link in with their personal interests. We delve into what those interests are, and how important it is to consider this approach.
Physical and mental wellbeing
As the inevitable return to the workplace will look different to the previous norm, employers will need to plan ahead and consider future ways of working. What might have been appreciated before the pandemic may not continue to resonate.
In this part of the whitepaper, we further explore this notion and look at how employers can support physical and mental wellbeing wherever employees are carrying out their work.
Financial wellbeing
There’s a growing need for employers to support their employees with money management. Whilst there is a difference in the cost and logistics between mandatory and optional rewards and benefits, the data clearly shows the employee demand for both. We explore the types of rewards and benefits that employees would find most useful.
As we mentioned above, choice-based rewards and benefits are key to offering a diverse and inclusive employee engagement strategy. When it comes to financial wellbeing, it’s about knowing your employees well enough to provide rewards that resonate and that are actually helpful for budgeting or saving money. In this chapter of the report, we look at how to offer the right type of support when you need to cater for the masses.
Closing thoughts
Providing a well-rounded, accessible and simple-to-understand workplace rewards and benefits programme is fundamental.
In this final conclusion, we touch upon the demand for flexible working as our data reveals that more than four in ten employees are looking for flexible working options. We also discuss how your duty of care doesn’t have to take up hours of time or use extensive amounts of budget.
If you’d like to learn more about how our solutions could support your rewards and benefits strategy, visit www.Blackhawknetwork.co.uk
