COVID-19 has changed the way many work and live. With the future uncertain, the morale of employees has been affected. As a result, many companies are exploring ways to motivate their employees so that they perform at their best. One viable solution is to provide financial incentives.
Here are 5 reasons why providing financial incentives will help to increase your employees’ work performance.
Financial incentives refer to another form of direct compensation beyond salary. They are given as performance-based compensation. UNIQGIFT E Vouchers in Singapore are a good choice of such incentives as we offer many choices to your staff, making such incentives more attractive than the usual e gift cards.
Work motivation is the driving force for employees to work effectively and cooperatively to achieve optimal job performance and satisfaction. Research has examined and verified the relationship between job satisfaction, motivation, and low burnout level in employees (Papasotiriou et al., 2018).
In a recent 2018 study, Novianty and Evita found a strong correlation between giving financial incentives to employees and employee motivation, as it fuels them to have the willingness to exert high levels of effort toward organizational goals.
Financial incentive programs that target wellness, physical well-being or fitness, in the form of, for example, distributing gift vouchers or e vouchers in Singapore related to sportswear, gyms, wellness centres, nutrition, etc., are proven to have stimulated changes in health behavior by increasing the likelihood of employees taking to new and healthier lifestyles (Basu & Kiernan, 2016).
Investing in your employees’ health and wellbeing is crucial to better work performance and one great way you can motivate your staff to live healthier is through these voucher rewards.
Employees appreciate it when their companies make an effort to ask them for their opinions and preferences. Therefore, when the HR department conducts quick surveys about which products or services are most popular among your employees, and then find the corresponding gift vouchers to fit these preferences, employees will know that they are cared for and that their opinions matter.
In fact, if survey results show varied preferences, HR could give out different e vouchers or gift vouchers each time to specific groups of employees depending on what they prefer. In this regard, UNIQGIFT has a huge range of e voucher products to choose from.
Imagine this. HR buys the vouchers with ease; there are no worries about operations, logistics, or delays. Our vouchers have a short lead time and are extremely easy for your HR department to distribute to your employees.
Furthermore, there is no need to carve out storage space to store these vouchers. This leads to another amazing benefit of using UNIQGIFT e vouchers as financial incentives.
Now, your employees are free to spend it however they want and use it at any time they want. They can even do it in the comfort of their own homes by shopping online with our online merchant partners. UNIQGIFT vouchers cater to various lifestyles, hobbies, and interests. It makes life a lot easier for you and your employees.
Ready to reward your employees?
Send in a corporate enquiry for our UNIQGIFT gift vouchers and e vouchers in Singapore today.