A study highlighting the reasons SME’s offer rewards to their workforces has prompted Prevision Acquisitions Direct to release a statement on why they are offering weekly rewards and competitions to their team of young professionals.

Over the years, numerous companies have created cash rewards or incentive programs to encourage team members and prevent employees from being lured to rival companies. In 2016, money spent on cash rewards in the US amounted to roughly $77billion, a substantial sum considering how many industries are yet to equal this amount in value. However, when it comes to achieving employee loyalty as a business, it seems working professionals now expect more than just money.

In light of this subject, Precision Acquisitions Direct have provided advice on building loyalty to achieve better results:

  • Give employees invaluable experiences

By providing employees the types of experiences money can not buy, a business will be able to show employees that they care and support their wellbeing inside and outside of the workplace. Taking an empathetic approach to employees, e.g. making a concerted effort to appear more caring and invested in their team members, will bolster employee faith both personally and within the brand.

  • Set customised goals

Precision Acquisitions recommend setting goals and responsibilities in the most efficient manner possible to achieve your brand’s ultimate objective, by tailoring parts of the objective to the specific skills of each employee. This will drive up overall efficiency and also allows each individual the opportunity to tackle the tasks in a way best fitted to their own strengths and weaknesses.

  • Give employees a part of the company

An example of this is establishing a profit sharing system which can give employees a sense of ownership. This will grant them a stronger feeling of responsibility and belonging, with the company. Furthermore, it will give employees a better a sense of appreciation for their work, regardless of how much they chip in.

Based in London, Precisions Acquisitions Direct are direct marketing campaigns specialist. The firm specialises in connecting with clients to understand and deliver bespoke campaigns with pinpoint accuracy to the public. This tailored approach delivers the best service possible while establishing a long lasting connection with consumers. The demanding marketing campaigns has led Precision acquisitions to adopt a wide range of incentives and rewards for their representatives. Previously the firm took their team to Tenerife for a relaxing weekend, team ping pong nights and hosted fancy galas to celebrate their team’s unstoppable work ethic.

Source: http://www.huffingtonpost.com/entry/cash-isnt-always-king-ways-to-reward-your-employees_us_59774368e4b0c6616f7ce516