Tech companies are innovative by their very nature. But the giants of silicon valley (and beyond) aren’t just reshaping the products and services we use everyday, they’re also changing the way we work. With demand for digital talent at an all time high, tech companies have had to adjust their employment strategies to attract and retain the very best people. In this increasingly competitive market, traditional incentives like high salaries, stock options and corner offices simply won’t cut it. Instead employee rewards programs have become the key battleground for tech companies looking to recruit top talent.
An effective employee rewards program has been proven to not only attract and retain the best people, but to keep them engaged in their work - helping to stoke the fires of inspiration that are the lifeblood of tech.
But in an industry where innovation comes as standard, offering the same old tired employee rewards simply doesn’t work. Instead it’s vital to customize your employee rewards program so that it stands out from the crowd.
Google regularly features in lists of the world’s best places to work, and for good reason. Since its first inception the search engine giant has had a progressive approach to employee engagement. Offering everything from free food to a proportion of paid time given over to side-hustles and passion projects, Google has blazed a trail for employee rewards and recognition programs.
One of the key things that Google has discovered along their way to becoming a great employer is that money alone doesn’t motivate staff. Indeed the company actually found that cash incentives actually made people less happy while rewards like gifts or experiences were far more effective at motivating its people.
Another interesting aspect of Google’s employee rewards program is its focus on recognizing teams. Indeed alongside its suite of individual awards, Google makes a point of rewarding entire groups within the organization in order to emphasize the vital role that collaboration plays within their operation. The company’s “no name program” was specifically designed for executives to recognize whole teams for outstanding performance with incentives ranging from parties to group trips.
It’s another example of the focus on customization that Google has woven into its rewards and recognition activity. They have even developed a host of awards that are specifically designed to reinforce the company’s culture. One of the most famous of these is the Founder’s award, which recognizes the kind of entrepreneurial achievements that are central to Google’s continued success.
If you’re looking to follow Google’s path, here are a couple of suggestions to help you customize your own employee rewards for the tech industry.
Innovation awards - Customized awards are a great way to incentivize innovation. Whether you reward people for fresh ideas or new product development, it can ensure your tech company stays at the front of the pack.
Sales superstars - Tired of the same old sales targets? Why not freshen up your rewards and recognition with awards that better represent the culture you’re trying to create. Quarterly Awards that recognize salespeople who exceed their quotas is a great way of ensuring people at every level are engaged. Likewise, awards that recognize sales teams that deliver exceptional service, can help your people to look beyond the bottom line.
Process pioneers - Even the most finely tuned processes can always be improved, so why not recognize people who go above and beyond to boost the efficiency and effectiveness of your operations?
However you choose to customize your approach, one thing that’s clear is that employee recognition and rewards will be more important than ever in tech as we move into 2022. The very best tech companies won’t just recognize the power of their people but harness it, to create engaged and cohesive teams that succeed in an ultra-competitive landscape.
This is where Bucketlist can help. Bucketlist’s employee rewards platform is customizable to your business, making it easy and fun for managers to recognize and reward your peoples’ milestones, achievements and hard work.
To find out more visit https://bucketlistrewards.com/product. Alternatively, you can contact us for a free demo to find out how Bucketlist’s employee reward and recognition software can help you keep your workers happy and engaged.