Trends in Employee Incentive Programs in New Jersey

By
jasonhunterdesign
Posted
December 6, 2022

Employee recognition, which results in retailing the most efficient employees, can be seen as a transformative force that helps a business reach its strategic objectives. Retaining employees is, however, a daunting task, with stiffening competition for the employee pool in New Jersey. Total employment in the state jumped by 6,700 jobs in November 2014, according to data quoted in an article published by the Department of Labor and Workforce Development for New Jersey. In fact, this trend in evident from the number of people quitting their jobs - not just in NJ, but across the US. Quits, which were confined mostly to the private sector, surged to 2.6 million in 2014, according to data released by the US Bureau of Labor Statistics. So, how does one hang onto employees who make significant contributions to the value being offered by a company? Employee incentives can be considered to retain talented employees. Here are some trends:

Increase in Social Recognition

Companies are using innovative ways to appreciate the contribution of employees. While appreciation in the presence of peers does a lot for the morale, the intensity of the feel-good factor can be strengthened by recognition on social media platforms, like Facebook and Twitter. These messages go out not only to colleagues but to family and friends, who then shower their praises, further boosting an employee's self esteem. Recognition apps on smartphones are becoming more popular, where appreciation can be sent to a group. In both these solutions, an image of the employee can be sent to attract more attention. Thus, employee recognition has become more effective and less time consuming.

Custom Gifts for Recognition

Rewarding employees with personalized gifts is a more tangible way to express recognition. It's important to remember that quality counts a lot here. If your employees see you opting for substandard products, they begin to believe you accept low quality. There is a growing trend of custom apparel being a part of employee incentive programs. This is because apparel is personal, yet can be highly professional, depending on the color, type of apparel (like collared t-shirts or sweatshirts) and quality of printing being chosen.

Qualities Being Recognized

While traditionally, employees have been recognized for their length of service and performance measured in quantitative terms, the trend has been changing to recognition for exhibiting the right set of values. This trend of companies designing programs to motivate specific behavior was noted in a report by WorldatWork published in 2013.

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