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The Impact of Experiential Rewards [RESEARCH]
3 MIN READ
Morgan Chaney
January 5, 2017

Here at Blueboard, we value employee rewards that are memorable, personal, shareable, and most importantly, that make an impact. That's why we offer all customers the ability to conduct baseline and post-experience employee surveys to effectively measure changes in key engagement metrics after your employees complete their Blueboard reward experience. We monitor how experiential rewards (like learning a new language, going skydiving, or taking a family getaway), change their feelings of appreciation, their motivation levels, and their plans to stay at your company. After culling through hundreds of post-experience surveys that your employees submitted through 2016, our results are in and are looking better than ever.

Blueboard Post-Experience Survey Analysis, 2016

99% of Employees Feel More Appreciated

What good is an employee recognition program if the employee doesn't feel genuinely appreciated? At Blueboard, we offer the ability for managers to distribute rewards that are both relevant and personal - the employee's choice of over 300 hand-curated experiences. And we arm you with printed thank you cards so that you can also take a moment to share what the employee did to deserve their reward, in-person. This builds your manager-to-employee relationship and by describing their achievement, helps to identify and reinforce the employee's positive behavior. Compared to 99% in 2015.

96% of Employees Are More Motivated to Perform

Employee motivation is key to your company's continued business health. In fact, Kenexa Research Institute shares that companies with engaged and motived employees outperform their unengaged peers by 5X! That's some serious dough. And motivated employees also serve as a bright, guiding light for their teammates, helping to enforce a culture of teamwork and performance that is easily contagious. Compared to 92% in 2015.

97% of Employees Believe Blueboard Rewards Positively Impact Company Culture

The best part about experiences as employee rewards? They're extremely shareable. We've curated experiences that blow up Instagram feeds and have employees wanting to come in early on Monday to share all the details of their weekend adventure. Can you remember the last time someone on your team humble-bragged about their Amazon gift card? There’s a good chance it’s collecting dust in their desk drawer as we speak. Unlike cash or gift cards, experiences are anything but quiet, meaning your employees feel comfortable and excited to celebrate their achievements with others, helping to foster a healthy company culture built on positive and authentic employee recognition. Compared to 100% in 2015.

98% of Employees Agree That Blueboard Rewards Help Retain Top Talent

Employee turnover is no fun - it's time-consuming to recruit and very expensive, according to reports from SHRM, six- to nine-months salary expensive. That means for a manager making $100,000 annually, you might lose up to $75,000 to replace them, when factoring in recruiting fees and the company's loss in productivity while the role is empty, and as the new replacement hire ramps up. Experiences like a much-needed date night, pottery class or series of guitar lessons to reconnect with their creative side might seem small, but can greatly benefit the employee both in- and outside of work, showing them that your company values their growth and well-being, ultimately mitigating employee turnover. Compared to 97% in 2015.

How are your employee rewards stacking up? We'd love to hear your feedback in the comments below. And if you're interested to learn more about Blueboard's experiential rewards offering, head on over to our Experiences page.

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