This is a 2019 SHRM Annual Conference and Exposition (#SHRM19) interview is with Benefit One USA, an employee recognition company. Below is a quick Q&A with them.
Who is Benefit One USA!? Tell us everything, just as you would someone approaching your booth and asking you this question at #SHRM19 in Las Vegas.
Benefit One is a leading employee reward and recognition program in Japan with over 7500 companies including government organizations trusting us to retain their top talent.
We have launched a new platform specifically designed keeping the U.S. market in mind. We are passionate about helping organizations motivate, inspire and recharge their workforce and achieve their business goals. Our platform will help you appreciate and reward your employees and boost overall employee engagement.
Let us in on the magic. What’s the recognition process like at Benefit One? How do you utilize your own tech and processes to ensure employees feel appreciated?
At Benefit One, we utilize our recognition platform in two different ways.
Since we work with the modern workforce where employees aren’t necessarily always in the office, we understand the need for greater focus on recognition. Our recognition platform enables all our members including peers to recognize the efforts of an employee along with a meaningful message. Recognition from co-workers helps foster better team relationships. Since the platform is open to all, they have greater visibility of the process and how the system works.
Managers and executives have the authority to reward employees. There is a standard set of rewards such as birthdays, anniversaries, and service awards from a company, but we go a step beyond. Since managers work on a myriad of projects at any given time, they might have different benchmarks for rewards for different departments. Our platform empowers managers to create different award criteria within their department and reward their employees.
These two separate recognition and reward structure coming from employees and management makes Benefit One the ideal platform to create a unique corporate culture and lead the modern workforce.
What are the biggest challenges companies face when rewarding their employees? How do they overcome those challenges?
The biggest challenge in rewarding employees is effective recognition. The traditional approach to recognize employees was purely result-based. Such as employee of the month, long term service awards, and achievements. These still work great but as we’ve already mentioned, we work with the modern workforce, where employees can have multiple job description or be handling different projects, and recognition solely by the result isn’t enough in the current workforce. To overcome this, we chose to combine “process-based recognition” and “result-based recognition.” This is often not easy to implement since we have to work with rules and budget constraints. At Benefit One, we carry large case studies and use cases for the team to understand and create the best structures for our clients.
What do you wish more HR professionals and recruiters knew about incentives and recognition?
That the time for traditional employee incentives such as cash-based rewards or gift cards has passed. Budget considerations and approvals make the process of rewarding employees a long-drawn one. An effective employee recognition program which enables real-time recognition and rewards can help motivate your workforce and boost their productivity. Organizations need a recognition partner that allows organizations to define their goals, measure employee performance and customize the platform to meet their unique needs.
How important is recognition in employee retention?
The adage ‘Employees do not quit jobs, they quit managers’ could not be truer in today’s competitive labor market. One of the most prevalent causes of dissatisfaction amongst employees is the lack of recognition.
When employees are recognized for the good work they do, they feel valued and appreciated by their leadership as well as peers. They are motivated to work harder and keep up their good performance. Employees recognition helps boost their overall job satisfaction which in turn leads to reduced employee turnover.
For anyone who won’t be able to make it to the Benefit One booth booth #1026 in Las Vegas, what do you want them to know?
To begin with, hey there! Sorry, we missed each other. We are Benefit One USA a company working to transform the employee recognition industry. We believe that traditional forms of employee incentives are no longer as effective and the need of the hour is greater employee recognition and instant rewards. Our completely customizable platform will empower you to engage your employees and inspire them to reach their true potential.
Brett Farmiloe is the Founder and CEO – and currently CHRO - of Terkel.io, a platform where business leaders can answer questions related to their expertise and get published in articles featuring their
insights. Brett is a #SHRM22Influencers and has also been a keynote speaker at several state SHRM conferences around the topic of employee engagement.
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