Digital economy presents new ways to inspire and reward your workforce

Companies are shifting to a hybrid workplace model and, with an ongoing focus on digital, data and automation, there are now multiple ways to strengthen the employer-employee bond. Recognition and reward are more important than ever before.

It is a fact that the pandemic really put the relationship between employer and employee to the test. The dynamic completely changed because companies had to adapt policies, make allowances and seriously consider the wellbeing of employees.

For many this was unchartered territory.

Employees had to continue to perform and deliver on expectations, and do so amid complex socio-economic conditions.

Both parties had to adapt to the reality of hybrid work and strike a balance between work and personal responsibilities, on-and offsite.

We underline the importance of recognition as more businesses adapt to tough post-COVID conditions. Why? Because it encourages productivity, and stimulates ideas, creativity and a positive energy.

Simply reward hard workers

In the current tough economic conditions, the ability to attract and retain skills is critical. A business that actively uses digital resources to recognise and reward is far more likely to attract the interest of talented job-seekers.
Business leaders have a wide range of options available through which to reward, including virtual – some that will require a level of investment, others not so much.

For example, a company can offer flexibility with working hours, training and upskilling opportunities, and team building initiatives. Or it could simply communicate employee achievements across the business. Alternatively, a business can simply reward hard workers with gifts or gestures to say ‘Hey, thank you for your hard work, your contribution, we recognise the effort and value you put in’.

Never underestimate the power of encouragement and a word of praise.

It may be a cliché, but there is truth in the notion that a happy employee is a productive employee.
Companies can use the web to host certification ceremonies, virtual socials and brainstorming sessions, online gifts and awards, and much more. There is a lot to be said for online gift vouchers to restaurants, shows, movies and stores.

Another major advantage for companies is the growth in popularity of e-commerce sites, which also gives business owners more options to recognise and reward employees.

In a nutshell, as economies digitally transform and businesses follow suit, the reality is traditional human resource practices have become less relevant. Today, the focus is on sustaining operations and incentivising workers – and virtual is the foundation of this going forward.