How Can Employee Rewards Support A New Company Culture?

Putting a new company culture in place is never a case of "out with the old, in with the new". 

In fact, trying to shift the attitudes and behaviours of your internal stakeholders by revving up your engines for a fad-like overhaul of the existing culture will have an adverse effect.

You need a long term strategy based on feedback from your employees, as well as a deep understanding of what encourages them to deliver results for your business. Investing in the right tools and systems to support the improvement of internal processes and communications will affirm your commitment to the proposed changes. 

A reward scheme that supports that intention will go a long way to ensuring that the new culture is embraced by all existing and incoming team members - here’s how...

People want more than a paycheck

While your employees may rely on their monthly salary to cover expenses and support their lifestyles, money isn't the single motivating factor that drives productivity and job satisfaction. 

People live longer, healthier lives as a result of advances in modern medicine; the work we do in the current knowledge-based economy also changes employee's expectations of what an employer should provide. It's important for the individuals who invest their time and talents into your business to feel valued and appreciated; so, it’s equally important to recognise those who deserve rewarding, too.

Enabling genuine human interactions where hard work is recognised and rewarded makes people feel like their time and efforts are more than commodities that can be exchanged for cash. Acknowledgement speaks to us intrinsically; it inspires us to show up and be the best versions of ourselves in whatever we are doing. 

Encourage long-term outlook for employees

By introducing a reward scheme that aligns with your company's values and mission statement, you’ll create transparency about the goals you set for your workforce and how you reward and recognise the positive contributions that teams and individuals make towards meeting those targets. 

Mapping out the direction you’d like your organisation to head in and incentivising staff to be proactive about helping you get there will keep things on course.

Encouraging your team to have a broader perspective on how their daily actions drive your business towards success makes them feel included and motivated to perform. 

Improves communication

One of the legacies of traditional work cultures is the siloing of different departments throughout the organisation. Everyone knows that they work for the same company, but collaboration isn't actively supported. This can result in a lack of visibility and understanding of the pressures that different departments face, sometimes resulting in friction as projects and tasks move through the pipeline. 

If your goal is to make a change in the way employees and management communicate with each other, a reward platform could be the perfect tool to help you facilitate this step. You’ll enhance visibility and encourage teams to share news updates, progress, achievements or even encourage colleagues to reach out for support when necessary. 

When workers feel listened to, you'll find increased rates of job satisfaction and engagement. This is because you’re sending a clear message to employees that your company values new ideas, celebrates success and high achievement, and includes everyone in critical organisational decisions. 

Free downloadable resource: Culture-Based Employee Rewards Cheat Sheet  Take the next step towards a positive company culture and download your free  Culture-Based Employee Rewards Cheat Sheet to get started right away! Check it  out!

Helps core values become more than words in a presentation

We often encounter the term "core values". It's repeated throughout business school or at the start of a new job. It's one of those aspirational, ambiguous concepts that many businesses claim to have incorporated into their processes, but little evidence exists to support that they practice what they preach. 

For some organisations, this is a perfunctory element of the induction process that's briefly glossed over in order to tick a box. Such outlooks can be hugely disappointing for employees who were initially attracted to the prospect of working for a company that seemingly resonated with their own values, only to find that what they've actually signed up for is a lot more superficial. 

If you aim to build a work culture that attracts talented individuals who’ll grow your profits sustainably, this can't be your attitude. 

A reward scheme naturally relies on a solid set of core values, as it's entirely built around the act of encouraging employees to conduct themselves in a manner that reflects what your company seeks to represent in your respective industry. That's a true investment in the longevity of your business. 

With an effective culture-based reward scheme, you could achieve tangible and measurable results that continuously boost the performance of your organisation.

By truly understanding what motivates your internal stakeholders, increases their level of job satisfaction and, in turn, boosts their loyalty towards your company, you can enjoy sustainable business growth. Furthermore, you’ll establish a strong reputation that helps you recruit the most talented individuals to your enterprise. 

We've made a helpful cheat sheet to guide you towards creating your own culture-based employee reward scheme. Just click the link below view it and start implementing impactful changes through a more focused approach to rewarding and recognising your employees.

Take the next step towards a positive company culture - download your free culture-based employee rewards cheat sheet