MANILA, Philippines,
Aug. 12, 2024 /PRNewswire/ -- Empuls,
a SaaS platform from Giift Inc. and a leader in AI-led employee
rewards and engagement solutions, launched its latest "Employee
Recognition and Rewards (R&R) Trends 2024" report at the
Xoxoday Convergence in Bangalore,
India. This report provides trends and innovative practices
from global organizations to help businesses benchmark and enhance
their R&R programs.
Drawing data from 4,087 companies worldwide, the report
highlights a shift from traditional rewards to strategic approaches
promoting employee appreciation, celebration, well-being, and
inclusivity. It offers best practices by leveraging data from
Empuls and insights from external research and industry experts.
This comprehensive approach encourages organizations to rethink
their recognition strategies, driving sustained behavioral change
and enhancing employee engagement.
The report covers key aspects of R&R programs, such as
designing effective recognition frameworks, balancing monetary and
non-monetary rewards, and celebrating an employee's life at work
and beyond. It also explores diverse reward options and redemption
methods, providing HR professionals with data-driven insights to
update their R&R programs to meet the unique preferences of
their workforce.
Key Takeaways:
- Future of Rewards: Innovative rewards are essential to
meet the demands of younger generations as Baby Boomers and Gen X
transition out of the workplace.
- Comprehensive Benefits Strategy: Rewards are evolving
into holistic benefits programs integrating talent development and
culture building.
- Holistic Recognition Experience: A diverse mix of
rewards enhances the recognition experience, as 40% of employees
are inclined to quit if not appropriately recognized.
Manoj Agarwal, Chief Product
& Operating Officer – Giift, stated, "The shift is clear -
engagement and R&R programs are no longer a checkbox on the HR
to-do list. Instead, companies now use them as a strategic lever to
reinforce desired behaviors, build a sense of belonging, and
cultivate a genuine culture of appreciation. Our inaugural Employee
Recognition & Rewards Trends 2024 provides insights on R&R
practices across industries and geographies to help organizations
benchmark and optimize their R&R initiatives."
Download the full report here and get insights
on maximizing the potential of your R&R programs to drive
positive outcomes.
About Giift:
Giift offers end-to-end SaaS solutions for managing engagement,
loyalty, incentives, rewards, and marketplaces. Our suite of SaaS
solutions - LBMS, Marketplace, Xoxoday, Empuls, and Compass - helps
businesses drive growth with their customers, employees, sales
teams, channel partners, and merchants. Headquartered in
Singapore, Giift's 500-member team
is spread across 15 global offices and works with over 3000 clients
and 150 million users. For more details, visit
www.giift.com.
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